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 stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $36.62, for a total value 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 trade represents a 11.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 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.
• 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 transaction of $6,990,000.00.

Roivant Sciences Stock Up 0.6%

Shares of NASDAQ:ROIV traded up $0.22 during trading on Friday, reaching $35.72. 4,365,817 shares of the company traded hands, compared to its average volume of 6,426,182. The firm has a market capitalization of $25.80 billion, a PE ratio of -67.40 and a beta of 1.10. Roivant Sciences Ltd. has a 52 week low of $15.25 and a 52 week high of $42.50. The company’s 50 day moving average is $36.57 and its two-hundred day moving average is $32.55.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings data 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 business had revenue of $1.44 million during the quarter, compared to the consensus estimate of $2.06 million. As a group, research analysts anticipate that Roivant Sciences Ltd. will post -2 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Jefferies Financial Group upped their price target on shares of Roivant Sciences from $42.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, September 8th. HC Wainwright boosted their price objective on shares of Roivant Sciences from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, September 8th. Guggenheim increased their price objective on Roivant Sciences from $42.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Bank of America reaffirmed a “neutral” rating on shares of Roivant Sciences in a research report on Friday, July 31st. Finally, Stifel Nicolaus initiated coverage on Roivant Sciences in a report on Wednesday, September 16th. They set a “buy” rating and a $51.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Roivant Sciences has an average rating of “Moderate Buy” and a consensus target price of $45.64.

Hedge Funds Weigh In On Roivant Sciences

Hedge funds and other institutional investors have recently modified their holdings of the business. Waverly Advisors LLC increased its stake in shares of Roivant Sciences by 2.3% during the 2nd quarter. Waverly Advisors LLC now owns 12,869 shares of the company’s stock worth $455,000 after purchasing an additional 291 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Roivant Sciences by 8.7% during the 1st quarter. Fifth Third Bancorp now owns 4,686 shares of the company’s stock valued at $130,000 after buying an additional 376 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Roivant Sciences by 21.8% during the 1st quarter. Bessemer Group Inc. now owns 2,465 shares of the company’s stock valued at $69,000 after acquiring an additional 441 shares during the period. Fifth Third Wealth Advisors LLC increased its position 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 valued at $282,000 after acquiring an additional 445 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of Roivant Sciences by 13.9% during the second quarter. Versant Capital Management Inc now owns 3,995 shares of the company’s stock valued at $141,000 after acquiring an additional 487 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

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.