Insider Selling: Roivant Sciences Ltd. (NASDAQ:ROIV) COO Sells 100,000 Shares of Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) COO Eric Venker sold 100,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $11.49, for a total transaction of $1,149,000.00. Following the completion of the sale, the chief operating officer now owns 595,580 shares in the company, valued at $6,843,214.20. This represents a 14.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Eric Venker also recently made the following trade(s):

• On Wednesday, November 20th, Eric Venker sold 100,000 shares of Roivant Sciences stock. The stock was sold at an average price of $11.32, for a total value of $1,132,000.00.
• On Monday, October 21st, Eric Venker sold 100,000 shares of Roivant Sciences stock. The shares were sold at an average price of $11.65, for a total transaction of $1,165,000.00.

Roivant Sciences Stock Performance

Shares of NASDAQ ROIV remained flat at $12.00 during trading on Thursday. The stock had a trading volume of 3,300,963 shares, compared to its average volume of 5,778,284. The firm has a market capitalization of $8.74 billion, a PE ratio of 2.12 and a beta of 1.25. Roivant Sciences Ltd. has a 1-year low of $9.69 and a 1-year high of $13.06. The stock has a 50 day simple moving average of $11.91 and a 200 day simple moving average of $11.51.

Analysts Set New Price Targets

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

Institutional Trading of Roivant Sciences

Several institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in shares of Roivant Sciences by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,686,538 shares of the company’s stock worth $28,397,000 after buying an additional 58,541 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Roivant Sciences by 85.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 130,631 shares of the company’s stock worth $1,381,000 after acquiring an additional 60,221 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Roivant Sciences by 27.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,287 shares of the company’s stock worth $838,000 after acquiring an additional 17,248 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in Roivant Sciences in the second quarter worth about $218,000. Finally, nVerses Capital LLC acquired a new position in Roivant Sciences in the second quarter valued at approximately $34,000. Institutional investors own 64.76% of the company’s stock.

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.