Insider Selling: Roivant Sciences (NASDAQ:ROIV) CEO Sells $2,800,610.64 in Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CEO Eric Venker sold 171,396 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $16.34, for a total value of $2,800,610.64. Following the sale, the chief executive officer directly owned 1,504,959 shares of the company’s stock, valued at $24,591,030.06. This represents a 10.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Wednesday, October 8th, Eric Venker sold 138,602 shares of Roivant Sciences stock. The stock was sold at an average price of $16.20, for a total value of $2,245,352.40.
• On Tuesday, October 7th, Eric Venker sold 355,161 shares of Roivant Sciences stock. The stock was sold at an average price of $16.15, for a total value of $5,735,850.15.
• On Tuesday, September 23rd, Eric Venker sold 611,000 shares of Roivant Sciences stock. The stock was sold at an average price of $14.83, for a total value of $9,061,130.00.
• On Monday, September 22nd, Eric Venker sold 416,182 shares of Roivant Sciences stock. The stock was sold at an average price of $14.99, for a total value of $6,238,568.18.
• On Friday, September 19th, Eric Venker sold 683,818 shares of Roivant Sciences stock. The shares were sold at an average price of $14.95, for a total value of $10,223,079.10.
• On Wednesday, August 20th, Eric Venker sold 100,000 shares of Roivant Sciences stock. The shares were sold at an average price of $11.72, for a total value of $1,172,000.00.
• On Monday, July 21st, Eric Venker sold 100,000 shares of Roivant Sciences stock. The shares were sold at an average price of $11.52, for a total value of $1,152,000.00.

Roivant Sciences Stock Down 0.5%

Shares of NASDAQ ROIV opened at $16.04 on Friday. The business has a fifty day simple moving average of $13.45 and a two-hundred day simple moving average of $11.78. The firm has a market cap of $10.95 billion, a PE ratio of -22.91 and a beta of 1.20. Roivant Sciences Ltd. has a twelve month low of $8.73 and a twelve month high of $16.79.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ROIV shares. Jefferies Financial Group lifted their target price on Roivant Sciences from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. Leerink Partners lifted their target price on Roivant Sciences from $18.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. JPMorgan Chase & Co. lifted their target price on Roivant Sciences from $16.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. The Goldman Sachs Group boosted their price target on Roivant Sciences from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Finally, Bank of America boosted their price target on Roivant Sciences from $12.00 to $16.50 and gave the stock a “neutral” rating in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.94.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its stake in Roivant Sciences by 80.5% during the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company’s stock worth $25,000 after buying an additional 1,108 shares during the last quarter. CWM LLC grew its stake in Roivant Sciences by 44.6% during the 2nd quarter. CWM LLC now owns 2,984 shares of the company’s stock worth $34,000 after buying an additional 920 shares during the last quarter. UMB Bank n.a. grew its stake in Roivant Sciences by 112.7% during the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company’s stock valued at $42,000 after purchasing an additional 2,195 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Roivant Sciences by 94.8% during the 1st quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company’s stock valued at $46,000 after purchasing an additional 2,233 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in Roivant Sciences by 59.3% during the 1st quarter. Fifth Third Bancorp now owns 5,118 shares of the company’s stock valued at $52,000 after purchasing an additional 1,905 shares during the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

About Roivant Sciences

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.