Insider Selling: Roivant Sciences (NASDAQ:ROIV) CEO Sells 683,818 Shares of Stock

Key Points

• Roivant Sciences CEO Eric Venker sold 683,818 shares of stock, totaling approximately $10.22 million, which marked a 25.77% decrease in his ownership.
• The company's stock traded down 1.3% to $14.74, with a 12-month high of $16.05 and a market capitalization of $10.07 billion.
• Analysts remain optimistic with price target increases; Bank of America raised their target from $12 to $16.50, reflecting a consensus rating of "Buy."

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) CEO Eric Venker sold 683,818 shares of the company's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $14.95, for a total value of $10,223,079.10. Following the sale, the chief executive officer directly owned 1,969,767 shares of the company's stock, valued at approximately $29,448,016.65. This represents a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, September 23rd, Eric Venker sold 611,000 shares of Roivant Sciences stock. The shares were 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 Wednesday, August 20th, Eric Venker sold 100,000 shares of Roivant Sciences stock. The shares were sold at an average price of $11.72, for a total value of $1,172,000.00.
• On Monday, July 21st, Eric Venker sold 100,000 shares of Roivant Sciences stock. The shares were sold at an average price of $11.52, for a total value of $1,152,000.00.

Roivant Sciences Stock Down 1.3%

Shares of Roivant Sciences stock traded down $0.20 during trading on Tuesday, reaching $14.74. The company's stock had a trading volume of 8,043,594 shares, compared to its average volume of 8,748,874. Roivant Sciences Ltd. has a 12-month low of $8.73 and a 12-month high of $16.05. The company has a market capitalization of $10.07 billion, a P/E ratio of -21.06 and a beta of 1.15. The business has a 50 day moving average price of $12.35 and a 200-day moving average price of $11.34.

Institutional Investors Weigh In On Roivant Sciences

Several hedge funds have recently made changes to their positions in ROIV. Perceptive Advisors LLC acquired a new stake in shares of Roivant Sciences during the second quarter worth $37,546,000. Nuveen LLC acquired a new position in Roivant Sciences in the first quarter valued at $31,988,000. Orbimed Advisors LLC acquired a new position in Roivant Sciences in the second quarter valued at $31,324,000. Rubric Capital Management LP boosted its holdings in Roivant Sciences by 14.7% in the second quarter. Rubric Capital Management LP now owns 20,370,336 shares of the company's stock valued at $229,574,000 after acquiring an additional 2,603,260 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in Roivant Sciences by 2,580.0% in the second quarter. Squarepoint Ops LLC now owns 2,211,675 shares of the company's stock valued at $24,926,000 after acquiring an additional 2,129,150 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ROIV shares. Bank of America lifted their price target on Roivant Sciences from $12.00 to $16.50 and gave the company a "neutral" 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. 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. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $19.94.

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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