Eric Venker Sells 104,940 Shares of Roivant Sciences (NASDAQ:ROIV) Stock

Key Points

• Eric Venker, CEO of Roivant Sciences, sold 104,940 shares of the company's stock for approximately $1.71 million, reducing his ownership by 6.52% to 1,504,959 shares.
• Since September, Venker has executed multiple stock sales totaling over $20 million, indicating significant trading activity just prior to this announcement.
• Analyst ratings for Roivant Sciences show a mixed outlook, with target prices ranging from $12.00 to $24.00, reflecting varying opinions on the stock's potential.

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) CEO Eric Venker sold 104,940 shares of the stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $16.30, for a total value of $1,710,522.00. Following the completion of the sale, the chief executive officer owned 1,504,959 shares of the company's stock, valued at $24,530,831.70. This trade represents a 6.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, October 13th, Eric Venker sold 20,727 shares of Roivant Sciences stock. The stock was sold at an average price of $16.25, for a total value of $336,813.75.
• 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 Monday, October 6th, Eric Venker sold 171,396 shares of Roivant Sciences stock. The stock was sold at an average price of $16.34, for a total value of $2,800,610.64.
• On Tuesday, October 7th, Eric Venker sold 355,161 shares of Roivant Sciences stock. The shares were 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 shares were 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 shares were 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 Performance

NASDAQ ROIV traded up $0.19 during trading hours on Tuesday, hitting $16.40. 5,174,761 shares of the company traded hands, compared to its average volume of 8,527,116. The business's 50-day moving average is $13.64 and its 200-day moving average is $11.87. Roivant Sciences Ltd. has a twelve month low of $8.73 and a twelve month high of $16.79. The stock has a market capitalization of $11.20 billion, a price-to-earnings ratio of -23.43 and a beta of 1.20.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Roivant Sciences in a research report on Wednesday, October 8th. Bank of America increased their target price on Roivant Sciences from $12.00 to $16.50 and gave the stock a "neutral" rating in a research note on Thursday, September 18th. HC Wainwright increased their target price on Roivant Sciences from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. The Goldman Sachs Group increased their target price on Roivant Sciences from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. Finally, Jefferies Financial Group increased their target price on Roivant Sciences from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $19.94.

Institutional Trading of Roivant Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC grew its holdings in shares of Roivant Sciences by 44.6% in the second quarter. CWM LLC now owns 2,984 shares of the company's stock valued at $34,000 after acquiring an additional 920 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Roivant Sciences by 94.8% during the first quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company's stock valued at $46,000 after buying an additional 2,233 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Roivant Sciences by 59.3% during the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock worth $52,000 after purchasing an additional 1,905 shares during the period. Osaic Holdings Inc. boosted its position in Roivant Sciences by 204.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,783 shares of the company's stock valued at $65,000 after acquiring an additional 3,882 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Roivant Sciences by 83.0% during the 1st quarter. GAMMA Investing LLC now owns 6,493 shares of the company's stock valued at $66,000 after acquiring an additional 2,945 shares in the last quarter. 64.76% of the stock is owned by 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.

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