PDT Partners LLC Raises Stock Holdings in Roivant Sciences Ltd. (NASDAQ:ROIV)

PDT Partners LLC boosted its holdings in Roivant Sciences Ltd. (NASDAQ:ROIV) by 116.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 399,107 shares of the company’s stock after purchasing an additional 215,000 shares during the period. PDT Partners LLC’s holdings in Roivant Sciences were worth $4,606,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ROIV. Mutual of America Capital Management LLC raised its stake in shares of Roivant Sciences by 0.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 327,079 shares of the company’s stock worth $3,457,000 after purchasing an additional 1,142 shares during the period. Acadian Asset Management LLC increased its holdings in Roivant Sciences by 23.2% during the second quarter. Acadian Asset Management LLC now owns 8,510 shares of the company’s stock worth $89,000 after buying an additional 1,603 shares during the last quarter. Covestor Ltd increased its holdings in Roivant Sciences by 9.1% during the third quarter. Covestor Ltd now owns 19,190 shares of the company’s stock worth $222,000 after buying an additional 1,605 shares during the last quarter. US Bancorp DE raised its position in Roivant Sciences by 146.5% in the third quarter. US Bancorp DE now owns 3,278 shares of the company’s stock worth $38,000 after acquiring an additional 1,948 shares during the period. Finally, Gladius Capital Management LP purchased a new position in Roivant Sciences in the third quarter valued at about $35,000. Institutional investors own 64.76% of the company’s stock.

Roivant Sciences Price Performance

NASDAQ:ROIV opened at $12.71 on Friday. Roivant Sciences Ltd. has a 1 year low of $9.34 and a 1 year high of $13.06. The stock’s fifty day moving average price is $11.76 and its two-hundred day moving average price is $11.38. The company has a market cap of $9.25 billion, a P/E ratio of 2.25 and a beta of 1.24.

Insider Activity at Roivant Sciences

In other Roivant Sciences news, CEO Matthew Gline sold 1,983,257 shares of Roivant Sciences stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $23,382,600.03. Following the completion of the transaction, the chief executive officer now owns 17,870,543 shares of the company’s stock, valued at $210,693,701.97. The trade was a 9.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Rakhi Kumar sold 250,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.89, for a total value of $2,972,500.00. Following the sale, the chief accounting officer now owns 209,322 shares in the company, valued at approximately $2,488,838.58. This represents a 54.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,677,309 shares of company stock worth $43,283,184. 7.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Bank of America raised their price target on shares of Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Roivant Sciences has a consensus rating of “Moderate Buy” and an average price target of $17.93.

Roivant Sciences 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.