Elevate Capital Advisors LLC Invests $2.12 Million in Roivant Sciences Ltd. (NASDAQ:ROIV)

Elevate Capital Advisors LLC purchased a new position in shares of Roivant Sciences Ltd. (NASDAQ:ROIV) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 178,853 shares of the company’s stock, valued at approximately $2,116,000. Roivant Sciences accounts for 1.9% of Elevate Capital Advisors LLC’s portfolio, making the stock its 15th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its stake in shares of Roivant Sciences by 39.4% during the 2nd quarter. Cetera Investment Advisers now owns 100,288 shares of the company’s stock worth $1,060,000 after buying an additional 28,324 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in Roivant Sciences during the third quarter worth $2,267,000. ORG Wealth Partners LLC acquired a new position in Roivant Sciences during the third quarter worth $113,000. Creative Planning boosted its position in shares of Roivant Sciences by 47.5% during the 3rd quarter. Creative Planning now owns 23,541 shares of the company’s stock worth $272,000 after purchasing an additional 7,579 shares in the last quarter. Finally, BTS Asset Management Inc. acquired a new position in shares of Roivant Sciences during the 3rd quarter worth $450,000. 64.76% of the stock is owned by hedge funds and other institutional investors.

Roivant Sciences Trading Up 0.2 %

Roivant Sciences stock opened at $10.89 on Monday. The firm has a market capitalization of $7.93 billion, a P/E ratio of 1.93 and a beta of 1.25. Roivant Sciences Ltd. has a 52 week low of $9.76 and a 52 week high of $13.06. The stock has a fifty day moving average price of $11.51 and a 200 day moving average price of $11.60.

Insider Activity at Roivant Sciences

In other news, COO Eric Venker sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $11.28, for a total value of $1,128,000.00. Following the transaction, the chief operating officer now directly owns 732,294 shares in the company, valued at $8,260,276.32. This trade represents a 12.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sciences Ltd. Roivant bought 16,845,010 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were acquired at an average cost of $20.00 per share, with a total value of $336,900,200.00. Following the transaction, the director now owns 96,650,341 shares in the company, valued at approximately $1,933,006,820. This represents a 21.11 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 1,942,629 shares of company stock worth $23,034,486. 7.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on ROIV shares. Cantor Fitzgerald upgraded shares of Roivant Sciences to a “strong-buy” rating in a research note on Thursday, January 30th. HC Wainwright reiterated a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a research report on Wednesday, November 13th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $17.93.

About Roivant Sciences

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.