Roivant Sciences (NASDAQ:ROIV) Stock: Insider Eric Venker Sells 187,943 Shares

Key Points

• Roivant CEO Eric Venker sold 187,943 shares for about $7.62 million at an average price of $40.53, reducing his direct stake by 18.81% to 811,211 shares. The sale was made under a pre-arranged Rule 10b5-1 plan and follows several 200,000-share sales in recent months.
• Analysts maintain a “Moderate Buy” consensus on ROIV, with an average price target of $46.64; recent targets range as high as $55.
• Shares traded at $39.99 in Thursday midday trading, below the recent $42.50 12-month high.

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) CEO Eric Venker sold 187,943 shares of the stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $40.53, for a total transaction of $7,617,329.79. Following the completion of the sale, the chief executive officer directly owned 811,211 shares of the company's stock, valued at $32,878,381.83. This represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, November 3rd, Eric Venker sold 200,000 shares of Roivant Sciences stock. The stock was sold at an average price of $36.31, for a total transaction of $7,262,000.00.
• On Wednesday, October 28th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The shares were sold at an average price of $36.59, for a total transaction of $7,318,000.00.
• On Tuesday, October 20th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The shares were sold at an average price of $35.11, for a total transaction of $7,022,000.00.
• On Wednesday, September 30th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The stock was sold at an average price of $36.62, for a total transaction of $7,324,000.00.
• 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.

Roivant Sciences Stock Performance

Shares of NASDAQ ROIV traded down $1.86 during midday trading on Thursday, reaching $39.99. The stock had a trading volume of 8,744,046 shares, compared to its average volume of 8,291,942. The stock has a 50-day moving average of $37.20 and a 200-day moving average of $32.16. Roivant Sciences Ltd. has a 12-month low of $19.96 and a 12-month high of $42.50.

Analysts Set New Price Targets

A number of brokerages have issued reports on ROIV. Guggenheim increased their price target on Roivant Sciences from $42.00 to $46.00 and gave the stock a "buy" rating in a research note on Wednesday, September 9th. HC Wainwright raised their price target on Roivant Sciences from $47.00 to $48.00 and gave the company a "buy" rating in a report on Tuesday. Bank of America restated a "neutral" rating on shares of Roivant Sciences in a research report on Friday, July 31st. Jefferies Financial Group upped their price objective on Roivant Sciences from $42.00 to $52.00 and gave the stock a "buy" rating in a research note on Tuesday, September 8th. Finally, UBS Group set a $55.00 price objective on Roivant Sciences in a research note on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $46.64.

Institutional Trading of Roivant Sciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. grew its position in shares of Roivant Sciences by 18.2% during the second quarter. Assenagon Asset Management S.A. now owns 8,362,952 shares of the company's stock valued at $295,965,000 after purchasing an additional 1,286,464 shares in the last quarter. Perceptive Advisors LLC increased its holdings in shares of Roivant Sciences by 3.8% in the first quarter. Perceptive Advisors LLC now owns 8,285,461 shares of the company's stock worth $229,507,000 after purchasing an additional 300,000 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Roivant Sciences by 20.3% in the third quarter. Pictet Asset Management Holding SA now owns 4,173,123 shares of the company's stock worth $152,597,000 after purchasing an additional 704,783 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Roivant Sciences by 179.0% in the second quarter. Wellington Management Group LLP now owns 2,687,870 shares of the company's stock worth $95,124,000 after purchasing an additional 1,724,588 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Roivant Sciences by 8.0% in the first quarter. Bank of America Corp DE now owns 3,163,821 shares of the company's stock worth $87,638,000 after buying an additional 235,493 shares in the last quarter. 64.76% of the stock is currently owned by institutional investors.

About Roivant Sciences

Roivant Sciences is a biopharmaceutical company that develops medicines through a network of subsidiary companies, which it calls “Vants.” These businesses focus on advancing drug candidates in areas such as immunology, oncology, neuroscience and rare diseases. Founded in 2014, Roivant has built and supported subsidiaries to develop treatments, manage clinical programs and pursue partnerships. Its portfolio has included both internally developed candidates and medicines licensed from other companies.

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