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

Key Points

• CEO Eric Venker sold 200,000 Roivant Sciences shares at an average price of $36.59, generating $7.32 million. The Rule 10b5-1 transaction reduced his holdings by 14.29% to approximately 1.2 million shares.
• Venker has also sold 200,000 shares in each of three earlier transactions since August, indicating a recurring pattern of insider selling.
• ROIV traded near $36.91, while analysts maintained a “Moderate Buy” consensus with an average price target of $46.55; the company continues to report losses despite beating its latest earnings-per-share estimate.

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) CEO Eric Venker sold 200,000 shares of the firm's stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $36.59, for a total transaction of $7,318,000.00. Following the completion of the sale, the chief executive officer owned 1,199,154 shares of the company's stock, valued at $43,877,044.86. This trade represents a 14.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 Tuesday, October 20th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The stock was sold at an average price of $35.11, for a total value of $7,022,000.00.
• On Wednesday, September 30th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The shares were 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 shares were sold at an average price of $35.77, for a total transaction of $7,154,000.00.

Roivant Sciences Stock Performance

ROIV traded down $0.61 during trading on Friday, hitting $36.91. The stock had a trading volume of 4,574,470 shares, compared to its average volume of 6,449,964. The company's 50-day moving average price is $36.64 and its 200 day moving average price is $31.38. The firm has a market capitalization of $26.66 billion, a P/E ratio of -69.64 and a beta of 1.10. Roivant Sciences Ltd. has a twelve month low of $19.30 and a twelve month high of $42.50.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last released its earnings results on Friday, August 7th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.04. The firm had revenue of $1.44 million during the quarter, compared to analyst estimates of $2.06 million. Roivant Sciences had a negative net margin of 3,534.96% and a negative return on equity of 22.94%. As a group, equities analysts expect that Roivant Sciences Ltd. will post -2.00 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on ROIV shares. Wolfe Research downgraded Roivant Sciences from an "outperform" rating to a "peer perform" rating in a research note on Monday, October 12th. Citigroup increased their target price on Roivant Sciences from $46.00 to $56.00 and gave the stock a "buy" rating in a research note on Wednesday. Jefferies Financial Group boosted their price target on Roivant Sciences from $42.00 to $52.00 and gave the stock a "buy" rating in a report on Tuesday, September 8th. HC Wainwright raised their target price on shares of Roivant Sciences from $41.00 to $47.00 and gave the company a "buy" rating in a research report on Tuesday, September 8th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Roivant Sciences in a research report on Thursday, September 24th. One 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $46.55.

Institutional Trading of Roivant Sciences

Institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund raised its position in shares of Roivant Sciences by 20.5% during the third quarter. Oregon Public Employees Retirement Fund now owns 112,252 shares of the company's stock worth $4,105,000 after purchasing an additional 19,100 shares during the period. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Roivant Sciences in the third quarter worth approximately $35,624,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Roivant Sciences in the third quarter worth $1,550,000. Profund Advisors LLC lifted its position in shares of Roivant Sciences by 10.7% during the 3rd quarter. Profund Advisors LLC now owns 62,821 shares of the company's stock valued at $2,297,000 after buying an additional 6,070 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Roivant Sciences by 10.3% during the 3rd quarter. ProShare Advisors LLC now owns 45,632 shares of the company's stock valued at $1,669,000 after acquiring an additional 4,261 shares during the period. 64.76% of the stock is currently owned by institutional investors and hedge funds.

About Roivant Sciences

Roivant Sciences Ltd. NASDAQ: ROIV is a biopharmaceutical company focused on discovering, developing and commercializing medicines. The company organizes its activities through subsidiaries and partner companies, often referred to as “Vants,” which specialize in particular therapeutic areas and stages of drug development.

Roivant's research and development activities have included immunology, dermatology, women's health, rare diseases and other specialty-care fields. Its portfolio has included Vtama (tapinarof) cream, a nonsteroidal topical treatment approved in the United States for plaque psoriasis and atopic dermatitis.

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