Eric Venker Sells 414,683 Shares of Roivant Sciences (NASDAQ:ROIV) Stock

Key Points

• Eric Venker, CEO of Roivant Sciences, sold a total of 414,683 shares in a series of transactions between October 6th and October 17th, significantly reducing his ownership by 21.60%.
• Following these sales, Roivant Sciences' stock is currently trading at around $17.26, with a recent trading volume that exceeded its average volume.
• Multiple analysts have raised their price targets for Roivant Sciences, with estimates now ranging from $16.00 to $22.00, indicating a generally positive outlook despite different ratings of the stock.

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) CEO Eric Venker sold 414,683 shares of the firm's stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $16.93, for a total transaction of $7,020,583.19. Following the sale, the chief executive officer owned 1,504,959 shares of the company's stock, valued at $25,478,955.87. This trade represents a 21.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, October 17th, Eric Venker sold 118,418 shares of Roivant Sciences stock. The stock was sold at an average price of $17.06, for a total transaction of $2,020,211.08.
• On Thursday, October 16th, Eric Venker sold 318,282 shares of Roivant Sciences stock. The stock was sold at an average price of $17.05, for a total transaction of $5,426,708.10.
• 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 transaction of $336,813.75.
• On Thursday, October 9th, Eric Venker sold 104,940 shares of Roivant Sciences stock. The stock was sold at an average price of $16.30, for a total transaction of $1,710,522.00.
• 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 transaction 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 transaction of $2,800,610.64.
• 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 transaction 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 transaction 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 transaction 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 transaction of $10,223,079.10.

Roivant Sciences Stock Performance

Shares of NASDAQ ROIV traded up $0.15 during midday trading on Friday, reaching $17.26. The company's stock had a trading volume of 8,793,524 shares, compared to its average volume of 7,509,870. Roivant Sciences Ltd. has a fifty-two week low of $8.73 and a fifty-two week high of $17.33. The business's 50 day moving average price is $13.97 and its two-hundred day moving average price is $12.01. The company has a market cap of $11.79 billion, a P/E ratio of -24.66 and a beta of 1.20.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ROIV shares. JPMorgan Chase & Co. lifted their price target on shares of Roivant Sciences from $16.00 to $20.00 and gave the company an "overweight" rating in a research report on Thursday, September 18th. Leerink Partners lifted their price target on shares of Roivant Sciences from $18.00 to $22.00 and gave the company an "outperform" rating in a research report on Thursday, September 18th. Bank of America lifted their price target on shares of Roivant Sciences from $12.00 to $16.50 and gave the company a "neutral" rating in a research report on Thursday, September 18th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Roivant Sciences in a research report on Wednesday, October 8th. Finally, Citigroup started coverage on shares of Roivant Sciences in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $16.00 price objective on the stock. One 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 given a Sell rating to the company's stock. According to data from MarketBeat, Roivant Sciences currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.94.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Rubric Capital Management LP raised its position in Roivant Sciences by 14.7% during the second quarter. Rubric Capital Management LP now owns 20,370,336 shares of the company's stock valued at $229,574,000 after purchasing an additional 2,603,260 shares in the last quarter. State Street Corp increased its holdings in shares of Roivant Sciences by 4.8% during the second quarter. State Street Corp now owns 19,773,480 shares of the company's stock worth $222,847,000 after buying an additional 911,827 shares in the last quarter. Two Seas Capital LP increased its holdings in shares of Roivant Sciences by 4.6% during the second quarter. Two Seas Capital LP now owns 10,598,040 shares of the company's stock worth $119,440,000 after buying an additional 461,733 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Roivant Sciences by 3.8% during the first quarter. Invesco Ltd. now owns 9,880,526 shares of the company's stock worth $99,695,000 after buying an additional 365,468 shares in the last quarter. Finally, BlackBarn Capital Partners LP increased its holdings in shares of Roivant Sciences by 15.2% during 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 institutional investors and hedge funds.

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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