Roivant Sciences (NASDAQ:ROIV) CEO Sells $7,324,000.00 in Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CEO Eric Venker sold 200,000 shares of the business’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $36.62, for a total transaction of $7,324,000.00. Following the transaction, the chief executive officer owned 1,599,154 shares in the company, valued at approximately $58,561,019.48. This represents a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, August 28th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The stock was sold at an average price of $35.77, for a total value of $7,154,000.00.
• On Monday, July 27th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The shares were sold at an average price of $34.95, for a total value of $6,990,000.00.

Roivant Sciences Price Performance

Shares of NASDAQ ROIV opened at $35.72 on Monday. The business’s 50-day moving average price is $36.58 and its two-hundred day moving average price is $32.60. Roivant Sciences Ltd. has a one year low of $15.25 and a one year high of $42.50. The company has a market capitalization of $25.80 billion, a P/E ratio of -67.40 and a beta of 1.10.

Roivant Sciences (NASDAQ:ROIV) last issued its earnings results on Friday, August 7th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.04. The company had revenue of $1.44 million for the quarter, compared to analyst estimates of $2.06 million. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%. On average, equities analysts anticipate that Roivant Sciences Ltd. will post -2 EPS for the current year.

Hedge Funds Weigh In On Roivant Sciences

A number of institutional investors have recently made changes to their positions in the business. Waverly Advisors LLC lifted its holdings in shares of Roivant Sciences by 2.3% during the second quarter. Waverly Advisors LLC now owns 12,869 shares of the company’s stock worth $455,000 after buying an additional 291 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Roivant Sciences by 8.7% in the first quarter. Fifth Third Bancorp now owns 4,686 shares of the company’s stock valued at $130,000 after acquiring an additional 376 shares during the period. Bessemer Group Inc. grew its stake in shares of Roivant Sciences by 21.8% in the first quarter. Bessemer Group Inc. now owns 2,465 shares of the company’s stock worth $69,000 after acquiring an additional 441 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in shares of Roivant Sciences by 4.6% in the first quarter. Fifth Third Wealth Advisors LLC now owns 10,166 shares of the company’s stock worth $282,000 after acquiring an additional 445 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in Roivant Sciences by 13.9% during the second quarter. Versant Capital Management Inc now owns 3,995 shares of the company’s stock worth $141,000 after acquiring an additional 487 shares during the period. 64.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 24th. TD Cowen boosted their target price on shares of Roivant Sciences from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Jefferies Financial Group increased their price target on shares of Roivant Sciences from $42.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, September 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Roivant Sciences in a report on Wednesday, August 19th. Finally, Sanford C. Bernstein raised shares of Roivant Sciences to a “strong-buy” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Roivant Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $45.64.

About Roivant Sciences

Roivant Sciences Ltd. (NASDAQ:ROIV) is a biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with serious or underserved diseases. The company operates through a network of subsidiary companies, known as “Vants,” each dedicated to specific therapeutic areas, drug candidates or commercial opportunities.

Roivant’s research and development activities have included treatments for immune-mediated diseases, rare disorders, oncology and conditions affecting the nervous system.