Insider Selling: Roivant Sciences (NASDAQ:ROIV) Director Sells 917,282 Shares of Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) Director Daniel Allen Gold sold 917,282 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $23.04, for a total value of $21,134,177.28. Following the transaction, the director directly owned 17,130,445 shares in the company, valued at $394,685,452.80. The trade was a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Daniel Allen Gold also recently made the following trade(s):

• On Wednesday, December 17th, Daniel Allen Gold sold 777,332 shares of Roivant Sciences stock. The stock was sold at an average price of $23.07, for a total transaction of $17,933,049.24.
• On Wednesday, November 19th, Daniel Allen Gold sold 1,300,000 shares of Roivant Sciences stock. The stock was sold at an average price of $20.23, for a total value of $26,299,000.00.

Roivant Sciences Stock Performance

ROIV traded down $0.91 during midday trading on Thursday, reaching $21.79. The company had a trading volume of 8,173,006 shares, compared to its average volume of 7,547,139. The business has a 50-day moving average of $19.88 and a two-hundred day moving average of $14.99. Roivant Sciences Ltd. has a 1 year low of $8.73 and a 1 year high of $23.47.

Wall Street Analyst Weigh In

A number of research firms recently commented on ROIV. Guggenheim reiterated a “buy” rating and issued a $28.00 target price on shares of Roivant Sciences in a research report on Thursday. Wall Street Zen raised shares of Roivant Sciences from a “strong sell” rating to a “hold” rating in a research note on Sunday, November 16th. Bank of America lifted their price objective on shares of Roivant Sciences from $12.00 to $16.50 and gave the stock a “neutral” rating in a research note on Thursday, September 18th. Citigroup boosted their target price on Roivant Sciences from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings upgraded shares of Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.19.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ROIV. Jones Financial Companies Lllp raised its stake in Roivant Sciences by 226.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,656 shares of the company’s stock valued at $25,000 after purchasing an additional 1,148 shares during the last quarter. Allworth Financial LP boosted its position in Roivant Sciences by 48.1% during the third quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock worth $27,000 after acquiring an additional 583 shares during the last quarter. Bessemer Group Inc. grew its stake in Roivant Sciences by 41.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock valued at $28,000 after acquiring an additional 543 shares in the last quarter. CWM LLC raised its holdings in Roivant Sciences by 44.6% in the 2nd quarter. CWM LLC now owns 2,984 shares of the company’s stock valued at $34,000 after acquiring an additional 920 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Roivant Sciences by 94.8% in the 1st quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company’s stock worth $46,000 after purchasing an additional 2,233 shares in the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

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.