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

Key Points

• CEO Eric Venker sold 200,000 Roivant Sciences shares at an average price of $34.95, generating approximately $6.99 million. The sale reduced his direct ownership by 11.03% to 1.61 million shares.
• Roivant shares fell 2.9% to $32.87, though the stock remains near its 52-week high of $37.00. The company has a market capitalization of approximately $23.64 billion.
• Analysts maintain a generally positive outlook, with 10 Buy, one Hold, and one Sell rating; the consensus rating is “Moderate Buy,” with an average price target of $33.59. Institutional investors own 64.76% of the company.

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) CEO Eric Venker sold 200,000 shares of the company's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $34.95, for a total transaction of $6,990,000.00. Following the completion of the sale, the chief executive officer directly owned 1,613,063 shares of the company's stock, valued at approximately $56,376,551.85. This trade represents a 11.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, June 24th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The shares were sold at an average price of $33.16, for a total transaction of $6,632,000.00.
• On Friday, May 22nd, Eric Venker sold 200,000 shares of Roivant Sciences stock. The shares were sold at an average price of $30.27, for a total transaction of $6,054,000.00.

Roivant Sciences Trading Down 2.9%

Shares of ROIV traded down $0.97 during mid-day trading on Wednesday, hitting $32.87. The company's stock had a trading volume of 4,824,003 shares, compared to its average volume of 4,385,496. The company's 50-day moving average is $32.48 and its 200-day moving average is $28.93. Roivant Sciences Ltd. has a 52-week low of $10.90 and a 52-week high of $37.00. The firm has a market capitalization of $23.64 billion, a price-to-earnings ratio of -54.78 and a beta of 1.11.

Analysts Set New Price Targets

ROIV has been the topic of several recent research reports. Citigroup increased their target price on Roivant Sciences from $35.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. HC Wainwright reissued a "buy" rating and issued a $34.00 price target on shares of Roivant Sciences in a research report on Thursday, May 21st. Leerink Partners set a $42.00 price objective on Roivant Sciences in a research report on Thursday, May 21st. Weiss Ratings lowered Roivant Sciences from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday, May 22nd. Finally, TD Cowen lifted their target price on Roivant Sciences from $38.00 to $41.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $33.59.

Institutional Trading of Roivant Sciences

Several large investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB grew its position in Roivant Sciences by 51.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 177,209 shares of the company's stock worth $6,271,000 after purchasing an additional 60,200 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Roivant Sciences by 18.2% in the second quarter. Assenagon Asset Management S.A. now owns 8,362,952 shares of the company's stock worth $295,965,000 after buying an additional 1,286,464 shares during the last quarter. GAMMA Investing LLC grew its holdings in Roivant Sciences by 17.4% during the second quarter. GAMMA Investing LLC now owns 14,637 shares of the company's stock worth $518,000 after acquiring an additional 2,172 shares during the period. Versant Capital Management Inc grew its holdings in Roivant Sciences by 13.9% during the second quarter. Versant Capital Management Inc now owns 3,995 shares of the company's stock worth $141,000 after acquiring an additional 487 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Roivant Sciences by 37.1% during the first quarter. Pacer Advisors Inc. now owns 96,303 shares of the company's stock worth $2,668,000 after acquiring an additional 26,044 shares during the period. Hedge funds and other institutional investors own 64.76% of the company's stock.

About Roivant Sciences

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women's health.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.