Insider Selling: Roivant Sciences (NASDAQ:ROIV) CEO Sells 118,418 Shares of Stock

Key Points

• Eric Venker, CEO of Roivant Sciences, sold **118,418 shares** of stock on October 17th for a total of **$2,020,211.08**, reducing his ownership by **7.29%**.
• Over the past month, Venker has sold a significant number of shares, totaling **over $28 million** in transactions, signaling potential **insider selling** trends within the company.
• Roivant Sciences' stock recently traded at **$17.26**, with brokerages projecting a consensus target price of **$19.94** and several rating upgrades, indicating analyst confidence in the company's future.

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) CEO Eric Venker sold 118,418 shares of the firm's stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $17.06, for a total value of $2,020,211.08. Following the sale, the chief executive officer directly owned 1,504,959 shares of the company's stock, valued at $25,674,600.54. This represents a 7.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, October 15th, Eric Venker sold 414,683 shares of Roivant Sciences stock. The stock was sold at an average price of $16.93, for a total value of $7,020,583.19.
• 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 value 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 value 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 value 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 value 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 value 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 value 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 value 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 value 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 value of $10,223,079.10.

Roivant Sciences Stock Performance

Roivant Sciences stock traded up $0.15 during mid-day trading on Friday, reaching $17.26. The 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 stock's 50-day simple moving average is $13.97 and its 200-day simple moving average is $12.01. The firm has a market capitalization of $11.79 billion, a PE ratio of -24.66 and a beta of 1.20.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ROIV. HC Wainwright raised their price objective on Roivant Sciences from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, September 18th. JPMorgan Chase & Co. raised their price objective on Roivant Sciences from $16.00 to $20.00 and gave the company an "overweight" rating in a research note on Thursday, September 18th. Leerink Partners raised their price objective on Roivant Sciences from $18.00 to $22.00 and gave the company an "outperform" rating in a research note on Thursday, September 18th. Jefferies Financial Group raised their price objective on Roivant Sciences from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, September 18th. Finally, The Goldman Sachs Group raised their price objective on Roivant Sciences from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Roivant Sciences has an average rating of "Moderate Buy" and a consensus target price of $19.94.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Capricorn Fund Managers Ltd purchased a new position in shares of Roivant Sciences during the third quarter valued at approximately $3,003,000. Pacer Advisors Inc. purchased a new position in shares of Roivant Sciences during the third quarter valued at approximately $857,000. Voya Investment Management LLC boosted its position in shares of Roivant Sciences by 1,076.2% during the third quarter. Voya Investment Management LLC now owns 497,823 shares of the company's stock valued at $7,532,000 after buying an additional 455,497 shares during the last quarter. Wedmont Private Capital boosted its position in shares of Roivant Sciences by 19.3% during the third quarter. Wedmont Private Capital now owns 13,215 shares of the company's stock valued at $213,000 after buying an additional 2,136 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Roivant Sciences by 4.8% during the third quarter. Assenagon Asset Management S.A. now owns 59,764 shares of the company's stock worth $904,000 after acquiring an additional 2,731 shares during the period. Hedge funds and other institutional investors own 64.76% of the company's stock.

About Roivant Sciences

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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