Roivant Sciences (NASDAQ:ROIV) CEO Sells 200,000 Shares of Company Stock

Key Points

• Roivant Sciences CEO Eric Venker sold 200,000 shares at an average price of $36.62, generating $7.324 million. The Rule 10b5-1 transaction reduced his direct ownership by 11.12% to 1.599 million shares.
• Venker has also sold 200,000 shares in both August and July, for combined proceeds of more than $21.4 million across the three transactions.
• Roivant shares recently traded near $35.72, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $45.64.

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) CEO Eric Venker sold 200,000 shares of Roivant Sciences stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $36.62, for a total value of $7,324,000.00. Following the sale, the chief executive officer directly owned 1,599,154 shares of the company's stock, valued at approximately $58,561,019.48. This trade represents a 11.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, August 28th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The stock was sold at an average price of $35.77, for a total transaction of $7,154,000.00.
• On Monday, July 27th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The stock was sold at an average price of $34.95, for a total transaction of $6,990,000.00.

Roivant Sciences Price Performance

NASDAQ ROIV traded up $0.22 during midday trading on Friday, hitting $35.72. 4,365,817 shares of the company traded hands, compared to its average volume of 6,426,182. Roivant Sciences Ltd. has a 52 week low of $15.25 and a 52 week high of $42.50. The company's 50-day simple moving average is $36.57 and its 200-day simple moving average is $32.55. The company has a market cap of $25.80 billion, a PE ratio of -67.40 and a beta of 1.10.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last posted its earnings results on Friday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.04. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%.The company had revenue of $1.44 million for the quarter, compared to analyst estimates of $2.06 million. On average, research analysts predict that Roivant Sciences Ltd. will post -2 earnings per share for the current year.

Institutional Investors Weigh In On Roivant Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Waverly Advisors LLC boosted its stake in Roivant Sciences by 2.3% in the 2nd quarter. Waverly Advisors LLC now owns 12,869 shares of the company's stock worth $455,000 after purchasing an additional 291 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Roivant Sciences by 8.7% in the 1st quarter. Fifth Third Bancorp now owns 4,686 shares of the company's stock valued at $130,000 after buying an additional 376 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Roivant Sciences by 21.8% during the 1st quarter. Bessemer Group Inc. now owns 2,465 shares of the company's stock worth $69,000 after purchasing an additional 441 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in Roivant Sciences by 4.6% during the first quarter. Fifth Third Wealth Advisors LLC now owns 10,166 shares of the company's stock worth $282,000 after buying an additional 445 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Roivant Sciences by 13.9% in the second quarter. Versant Capital Management Inc now owns 3,995 shares of the company's stock valued at $141,000 after buying an additional 487 shares during the last quarter. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on ROIV shares. TD Cowen upped their price target on shares of Roivant Sciences from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, September 9th. UBS Group set a $55.00 target price on shares of Roivant Sciences in a report on Wednesday, September 9th. HC Wainwright increased their price target on Roivant Sciences from $41.00 to $47.00 and gave the stock a "buy" rating in a research report on Tuesday, September 8th. Jefferies Financial Group lifted their target price on shares of Roivant Sciences from $42.00 to $52.00 and gave the company a "buy" rating in a research report on Tuesday, September 8th. Finally, Citigroup increased their price objective on Roivant Sciences from $42.00 to $46.00 and gave the company a "buy" rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Roivant Sciences currently has an average rating of "Moderate Buy" and a consensus price target of $45.64.

About Roivant Sciences

Roivant Sciences Ltd. NASDAQ: ROIV is a biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with serious or underserved diseases. The company operates through a network of subsidiary companies, known as “Vants,” each dedicated to specific therapeutic areas, drug candidates or commercial opportunities.

Roivant's research and development activities have included treatments for immune-mediated diseases, rare disorders, oncology and conditions affecting the nervous system.

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