Roivant Sciences (NASDAQ:ROIV) Director Sells $26,299,000.00 in Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) Director Daniel Allen Gold sold 1,300,000 shares of Roivant Sciences stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $20.23, for a total transaction of $26,299,000.00. Following the sale, the director directly owned 18,047,727 shares of the company’s stock, valued at $365,105,517.21. This represents a 6.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Roivant Sciences Trading Down 0.2%

Shares of NASDAQ:ROIV traded down $0.05 during midday trading on Friday, hitting $20.22. The company had a trading volume of 4,213,817 shares, compared to its average volume of 8,849,950. Roivant Sciences Ltd. has a 12 month low of $8.73 and a 12 month high of $21.35. The firm has a fifty day simple moving average of $17.66 and a 200 day simple moving average of $13.64. The stock has a market cap of $13.81 billion, a price-to-earnings ratio of -36.11 and a beta of 1.23.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ROIV. Wall Street Zen upgraded Roivant Sciences from a “strong sell” rating to a “hold” rating in a research report on Sunday, November 16th. Guggenheim reissued a “buy” rating and set a $25.00 price objective on shares of Roivant Sciences in a research note on Friday, November 14th. Jefferies Financial Group boosted their price objective on shares of Roivant Sciences from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, September 18th. Weiss Ratings upgraded shares of Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Roivant Sciences from $16.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.56.

Hedge Funds Weigh In On Roivant Sciences

Institutional investors and hedge funds have recently modified their holdings of the business. Rubric Capital Management LP raised its holdings in Roivant Sciences by 14.7% during the 2nd quarter. Rubric Capital Management LP now owns 20,370,336 shares of the company’s stock worth $229,574,000 after buying an additional 2,603,260 shares during the period. State Street Corp increased its position in shares of Roivant Sciences by 4.8% during the second quarter. State Street Corp now owns 19,773,480 shares of the company’s stock worth $222,847,000 after acquiring an additional 911,827 shares in the last quarter. Two Seas Capital LP raised its holdings in shares of Roivant Sciences by 4.6% during the second quarter. Two Seas Capital LP now owns 10,598,040 shares of the company’s stock worth $119,440,000 after acquiring an additional 461,733 shares during the period. Invesco Ltd. lifted its position in Roivant Sciences by 3.8% in the 1st quarter. Invesco Ltd. now owns 9,880,526 shares of the company’s stock valued at $99,695,000 after acquiring an additional 365,468 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Roivant Sciences by 18.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 9,308,710 shares of the company’s stock worth $140,839,000 after purchasing an additional 1,423,074 shares during the period. 64.76% of the stock is currently owned by institutional investors and hedge funds.

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.