Melqart Asset Management UK Ltd Sells 523,539 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV)

Melqart Asset Management UK Ltd trimmed its position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) by 41.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 742,070 shares of the company’s stock after selling 523,539 shares during the quarter. Melqart Asset Management UK Ltd’s holdings in Roivant Sciences were worth $8,563,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Gladius Capital Management LP bought a new stake in shares of Roivant Sciences during the third quarter valued at approximately $35,000. nVerses Capital LLC bought a new stake in Roivant Sciences in the 2nd quarter valued at $34,000. US Bancorp DE raised its stake in shares of Roivant Sciences by 146.5% in the 3rd quarter. US Bancorp DE now owns 3,278 shares of the company’s stock valued at $38,000 after buying an additional 1,948 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Roivant Sciences during the 2nd quarter worth about $36,000. Finally, Quarry LP bought a new stake in Roivant Sciences in the second quarter valued at about $53,000. Institutional investors and hedge funds own 64.76% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Roivant Sciences

In other Roivant Sciences news, COO Eric Venker sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $11.65, for a total value of $1,165,000.00. Following the completion of the sale, the chief operating officer now owns 617,470 shares of the company’s stock, valued at approximately $7,193,525.50. This represents a 13.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Gline sold 1,983,257 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total value of $23,382,600.03. Following the sale, the chief executive officer now directly owns 17,870,543 shares in the company, valued at $210,693,701.97. The trade was a 9.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,677,309 shares of company stock worth $43,283,184 in the last quarter. 7.90% of the stock is owned by company insiders.

Roivant Sciences Stock Performance

NASDAQ:ROIV opened at $12.12 on Wednesday. The stock’s fifty day moving average price is $11.78 and its two-hundred day moving average price is $11.39. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 2.15 and a beta of 1.25. Roivant Sciences Ltd. has a 52-week low of $9.48 and a 52-week high of $13.06.

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.