Eric Venker Sells 171,396 Shares of Roivant Sciences (NASDAQ:ROIV) Stock

Key Points

• Eric Venker, CEO of Roivant Sciences, sold a total of 171,396 shares on October 6th for approximately $2.8 million, leading to a 10.22% decrease in his ownership of the stock.
• Roivant Sciences' stock is currently priced at $16.03, down 0.6% from its previous trading session, with a market capitalization of $10.95 billion.
• Recent analyst ratings indicate a consensus of “Moderate Buy” for Roivant Sciences, with price targets ranging from $16.00 to $22.00 set by several brokerages.

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) CEO Eric Venker sold 171,396 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer directly owned 1,504,959 shares in the company, valued at $24,591,030.06. This trade represents a 10.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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 stock was 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 stock was 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 stock was sold at an average price of $11.52, for a total value of $1,152,000.00.

Roivant Sciences Stock Down 0.6%

Shares of Roivant Sciences stock traded down $0.09 on Wednesday, reaching $16.03. The company's stock had a trading volume of 5,850,620 shares, compared to its average volume of 9,553,693. The company has a market capitalization of $10.95 billion, a price-to-earnings ratio of -22.90 and a beta of 1.20. The firm's fifty day simple moving average is $13.26 and its two-hundred day simple moving average is $11.71. Roivant Sciences Ltd. has a 52 week low of $8.73 and a 52 week high of $16.79.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ROIV. Leerink Partners lifted their price objective on Roivant Sciences from $18.00 to $22.00 and gave the stock an "outperform" rating in a report on Thursday, September 18th. HC Wainwright lifted their price objective on Roivant Sciences from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, September 18th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Roivant Sciences in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Roivant Sciences from $16.00 to $20.00 and gave the stock an "overweight" rating in a report on Thursday, September 18th. Finally, Citigroup initiated coverage on Roivant Sciences in a report on Tuesday, September 2nd. They issued a "buy" rating and a $16.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Roivant Sciences presently has a consensus rating of "Moderate Buy" and an average price target of $19.94.

Hedge Funds Weigh In On Roivant Sciences

Several large investors have recently made changes to their positions in the business. Rubric Capital Management LP lifted its position in shares of Roivant Sciences by 14.7% in the second quarter. Rubric Capital Management LP now owns 20,370,336 shares of the company's stock valued at $229,574,000 after acquiring an additional 2,603,260 shares in the last quarter. State Street Corp lifted its position in shares of Roivant Sciences by 4.8% in the second quarter. State Street Corp now owns 19,773,480 shares of the company's stock valued at $222,847,000 after acquiring an additional 911,827 shares in the last quarter. Two Seas Capital LP lifted its position in shares of Roivant Sciences by 4.6% in the second quarter. Two Seas Capital LP now owns 10,598,040 shares of the company's stock valued at $119,440,000 after acquiring an additional 461,733 shares in the last quarter. Invesco Ltd. lifted its position in shares of Roivant Sciences by 3.8% in the first quarter. Invesco Ltd. now owns 9,880,526 shares of the company's stock valued at $99,695,000 after acquiring an additional 365,468 shares in the last quarter. Finally, BlackBarn Capital Partners LP lifted its position in shares of Roivant Sciences by 15.2% in the first quarter. BlackBarn Capital Partners LP now owns 4,750,000 shares of the company's stock worth $47,928,000 after buying an additional 625,000 shares in the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Roivant Sciences Company Profile

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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