Roivant Sciences (NASDAQ:ROIV) CEO Eric Venker Sells 611,000 Shares

Key Points

• Roivant Sciences CEO Eric Venker sold 611,000 shares of the company's stock for a total of approximately $9.06 million, reducing his position by nearly 29%.
• Following recent trades, Venker owns approximately 1.5 million shares valued at around $22.3 million, indicating substantial personal stake in the company.
• Roivant Sciences' shares are currently priced at $14.74, reflecting a 1.3% decrease in trading, with analysts giving the stock an average rating of "Buy" and a consensus price target of $19.94.

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) CEO Eric Venker sold 611,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $14.83, for a total transaction of $9,061,130.00. Following the transaction, the chief executive officer owned 1,504,959 shares in the company, valued at approximately $22,318,541.97. The trade was a 28.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, September 22nd, Eric Venker sold 416,182 shares of Roivant Sciences stock. The stock was sold at an average price of $14.99, for a total transaction of $6,238,568.18.
• On Friday, September 19th, Eric Venker sold 683,818 shares of Roivant Sciences stock. The stock was sold at an average price of $14.95, for a total transaction of $10,223,079.10.
• On Wednesday, August 20th, Eric Venker sold 100,000 shares of Roivant Sciences stock. The stock was sold at an average price of $11.72, for a total transaction of $1,172,000.00.
• On Monday, July 21st, Eric Venker sold 100,000 shares of Roivant Sciences stock. The stock was sold at an average price of $11.52, for a total transaction of $1,152,000.00.

Roivant Sciences Trading Down 1.3%

Shares of NASDAQ:ROIV traded down $0.20 on Tuesday, reaching $14.74. 8,043,594 shares of the company's stock were exchanged, compared to its average volume of 8,748,874. The company has a fifty day moving average of $12.35 and a 200-day moving average of $11.34. Roivant Sciences Ltd. has a twelve month low of $8.73 and a twelve month high of $16.05. The company has a market capitalization of $10.07 billion, a price-to-earnings ratio of -21.06 and a beta of 1.15.

Hedge Funds Weigh In On Roivant Sciences

Several large investors have recently modified their holdings of the business. Rubric Capital Management LP raised its stake in shares of Roivant Sciences by 14.7% during 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. State Street Corp raised its stake in shares of Roivant Sciences by 4.8% during the second quarter. State Street Corp now owns 19,773,480 shares of the company's stock valued at $222,847,000 after acquiring an additional 911,827 shares during the last quarter. Two Seas Capital LP raised its stake in shares of Roivant Sciences by 4.6% during the second quarter. Two Seas Capital LP now owns 10,598,040 shares of the company's stock valued at $119,440,000 after acquiring an additional 461,733 shares during the last quarter. Invesco Ltd. raised its stake in shares of Roivant Sciences by 3.8% during the first quarter. Invesco Ltd. now owns 9,880,526 shares of the company's stock valued at $99,695,000 after acquiring an additional 365,468 shares during the last quarter. Finally, BlackBarn Capital Partners LP raised its stake in Roivant Sciences by 15.2% during the first quarter. BlackBarn Capital Partners LP now owns 4,750,000 shares of the company's stock worth $47,928,000 after buying an additional 625,000 shares during the last quarter. Institutional investors own 64.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Jefferies Financial Group increased their target price on shares of Roivant Sciences from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th. Bank of America increased their price target on shares of Roivant Sciences from $12.00 to $16.50 and gave the stock a "neutral" rating in a research report on Thursday, September 18th. JPMorgan Chase & Co. increased their price target on shares of Roivant Sciences from $16.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th. Leerink Partners increased their price target on shares of Roivant Sciences from $18.00 to $22.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. Finally, Citigroup began coverage on shares of Roivant Sciences in a research report on Tuesday, September 2nd. They set a "buy" rating and a $16.00 price target on the stock. One equities research 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 company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $19.94.

Roivant Sciences Company Profile

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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