Roivant Sciences (NASDAQ:ROIV) Stock: Insider Eric Venker Sells 200,000 Shares

Roivant Sciences Ltd. (NASDAQ:ROIV) CEO Eric Venker sold 200,000 shares of the company’s stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $36.59, for a total transaction of $7,318,000.00. Following the completion of the transaction, the chief executive officer owned 1,199,154 shares of the company’s stock, valued at approximately $43,877,044.86. This trade represents a 14.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, October 20th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The stock was sold at an average price of $35.11, for a total value of $7,022,000.00.
• On Wednesday, September 30th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The stock was sold at an average price of $36.62, for a total transaction of $7,324,000.00.
• 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 transaction of $7,154,000.00.

Roivant Sciences Trading Down 1.6%

ROIV stock traded down $0.61 during mid-day trading on Friday, reaching $36.91. The company’s stock had a trading volume of 4,574,470 shares, compared to its average volume of 6,449,964. The business’s 50 day moving average price is $36.64 and its 200 day moving average price is $31.38. The company has a market cap of $26.66 billion, a price-to-earnings ratio of -69.64 and a beta of 1.10. Roivant Sciences Ltd. has a 12 month low of $19.30 and a 12 month high of $42.50.

Roivant Sciences (NASDAQ:ROIV) last released its earnings results on Friday, August 7th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.04. Roivant Sciences had a negative net margin of 3,534.96% and a negative return on equity of 22.94%. The company had revenue of $1.44 million for the quarter, compared to analyst estimates of $2.06 million. As a group, equities analysts expect that Roivant Sciences Ltd. will post -2.00 EPS for the current fiscal year.

Hedge Funds Weigh In On Roivant Sciences

Several hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in Roivant Sciences by 18.2% during the second quarter. Assenagon Asset Management S.A. now owns 8,362,952 shares of the company’s stock worth $295,965,000 after purchasing an additional 1,286,464 shares in the last quarter. Perceptive Advisors LLC grew its stake in Roivant Sciences by 3.8% during the 1st quarter. Perceptive Advisors LLC now owns 8,285,461 shares of the company’s stock worth $229,507,000 after buying an additional 300,000 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Roivant Sciences by 8.0% during the first quarter. Bank of America Corp DE now owns 3,163,821 shares of the company’s stock valued at $87,638,000 after acquiring an additional 235,493 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Roivant Sciences by 6.1% in the first quarter. Janus Henderson Group PLC now owns 3,095,448 shares of the company’s stock worth $85,790,000 after buying an additional 177,339 shares during the period. Finally, Jennison Associates LLC increased its position in Roivant Sciences by 26.7% in the 1st quarter. Jennison Associates LLC now owns 2,982,799 shares of the company’s stock worth $82,624,000 after purchasing an additional 629,413 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ROIV. Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 24th. Citigroup upped their price target on Roivant Sciences from $46.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus assumed coverage on Roivant Sciences in a research report on Wednesday, September 16th. They issued a “buy” rating and a $51.00 price target on the stock. Bank of America reaffirmed a “neutral” rating on shares of Roivant Sciences in a report on Friday, July 31st. Finally, Sanford C. Bernstein raised 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 issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $46.55.

About Roivant Sciences

Roivant Sciences Ltd. (NASDAQ: ROIV) is a biopharmaceutical company focused on discovering, developing and commercializing medicines. The company organizes its activities through subsidiaries and partner companies, often referred to as “Vants,” which specialize in particular therapeutic areas and stages of drug development.

Roivant’s research and development activities have included immunology, dermatology, women’s health, rare diseases and other specialty-care fields. Its portfolio has included Vtama (tapinarof) cream, a nonsteroidal topical treatment approved in the United States for plaque psoriasis and atopic dermatitis.