BTS Asset Management Inc. Makes New $348,000 Investment in Roivant Sciences Ltd. $ROIV

BTS Asset Management Inc. acquired a new stake in Roivant Sciences Ltd. (NASDAQ:ROIV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 30,906 shares of the company’s stock, valued at approximately $348,000. Roivant Sciences comprises about 0.4% of BTS Asset Management Inc.’s investment portfolio, making the stock its 21st largest holding.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Roivant Sciences in the 2nd quarter valued at approximately $864,000. Nordea Investment Management AB lifted its stake in Roivant Sciences by 0.7% in the 2nd quarter. Nordea Investment Management AB now owns 406,859 shares of the company’s stock valued at $4,583,000 after purchasing an additional 2,784 shares during the last quarter. TD Asset Management Inc bought a new position in Roivant Sciences in the 2nd quarter valued at approximately $1,830,000. Credit Industriel ET Commercial lifted its stake in Roivant Sciences by 3.3% in the 2nd quarter. Credit Industriel ET Commercial now owns 155,000 shares of the company’s stock valued at $1,747,000 after purchasing an additional 5,000 shares during the last quarter. Finally, CWM LLC lifted its stake in Roivant Sciences by 44.6% in the 2nd quarter. CWM LLC now owns 2,984 shares of the company’s stock valued at $34,000 after purchasing an additional 920 shares during the last quarter. Institutional investors own 64.76% of the company’s stock.

Insider Buying and Selling at Roivant Sciences

In other news, major shareholder Vivek Ramaswamy sold 1,195,000 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $12.50, for a total transaction of $14,937,500.00. Following the completion of the sale, the insider directly owned 36,089,108 shares in the company, valued at $451,113,850. This represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric Venker sold 683,818 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $14.95, for a total transaction of $10,223,079.10. Following the sale, the chief executive officer owned 1,969,767 shares of the company’s stock, valued at approximately $29,448,016.65. This trade represents a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,228,958 shares of company stock valued at $76,447,638 in the last ninety days. Insiders own 10.80% of the company’s stock.

Roivant Sciences Stock Performance

ROIV stock opened at $17.87 on Wednesday. The company has a fifty day moving average price of $14.23 and a 200-day moving average price of $12.13. The company has a market capitalization of $12.20 billion, a P/E ratio of -25.53 and a beta of 1.20. Roivant Sciences Ltd. has a 52-week low of $8.73 and a 52-week high of $18.06.

Wall Street Analysts Forecast Growth

ROIV has been the subject of several research reports. Leerink Partners increased their price objective on shares of Roivant Sciences from $18.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. JPMorgan Chase & Co. increased their price objective on shares of Roivant Sciences from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. HC Wainwright increased their price objective on shares of Roivant Sciences from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, September 18th. Guggenheim increased their price objective on shares of Roivant Sciences from $15.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, September 18th. Finally, Citigroup started coverage on shares of Roivant Sciences in a research note on Tuesday, September 2nd. They set a “buy” rating and a $16.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.94.

Roivant Sciences Company Profile

Roivant Sciences Ltd., a commercial-stage biopharmaceutical company, engages in the development and commercialization of medicines for inflammation and immunology areas. The company provides Vants, a model to develop and commercialize its medicines and technologies focusing on biopharmaceutical businesses, discovery-stage companies, and health technology startups.