Roivant Sciences (NASDAQ:ROIV) Insider Mayukh Sukhatme Sells 243,177 Shares

Key Points

• Roivant Sciences insider Mayukh Sukhatme sold 243,177 shares at an average price of $36.23, generating approximately $8.81 million. He retained 18.63 million shares after the transaction and also reported two additional sales totaling about $15.35 million.
• ROIV shares rose 3.1% to $37.37, near the company’s 12-month high of $37.46. Roivant reported a quarterly loss of $0.26 per share, better than analysts’ expected $0.30 loss, but revenue of $1.44 million fell short of the $2.06 million consensus estimate.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $35.14, while institutional investors own 64.76% of the company.

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) insider Mayukh Sukhatme sold 243,177 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $36.23, for a total value of $8,810,302.71. Following the transaction, the insider owned 18,630,739 shares of the company's stock, valued at approximately $674,991,673.97. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mayukh Sukhatme also recently made the following trade(s):

• On Monday, August 17th, Mayukh Sukhatme sold 284,707 shares of Roivant Sciences stock. The shares were sold at an average price of $36.25, for a total value of $10,320,628.75.
• On Tuesday, August 18th, Mayukh Sukhatme sold 136,942 shares of Roivant Sciences stock. The shares were sold at an average price of $36.73, for a total value of $5,029,879.66.

Roivant Sciences Trading Up 3.1%

Shares of NASDAQ ROIV traded up $1.13 during midday trading on Tuesday, hitting $37.37. 6,409,504 shares of the company's stock were exchanged, compared to its average volume of 5,396,372. Roivant Sciences Ltd. has a 12-month low of $11.54 and a 12-month high of $37.46. The company has a market cap of $26.99 billion, a price-to-earnings ratio of -70.51 and a beta of 1.12. The business's fifty day moving average price is $34.16 and its two-hundred day moving average price is $30.17.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced its earnings results on Friday, August 7th. The company reported ($0.26) earnings per share for the quarter, beating analysts' consensus estimates of ($0.30) by $0.04. Roivant Sciences had a negative net margin of 3,534.96% and a negative return on equity of 22.94%. The business had revenue of $1.44 million for the quarter, compared to the consensus estimate of $2.06 million. Equities analysts expect that Roivant Sciences Ltd. will post -1.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

ROIV has been the subject of a number of analyst reports. Bank of America reissued a "neutral" rating on shares of Roivant Sciences in a research note on Friday, July 31st. Piper Sandler reaffirmed an "overweight" rating on shares of Roivant Sciences in a research note on Thursday, May 21st. Leerink Partners set a $42.00 price target on shares of Roivant Sciences in a report on Thursday, May 21st. Sanford C. Bernstein raised shares of Roivant Sciences to a "strong-buy" rating in a research report on Wednesday, July 29th. Finally, Citigroup raised their price target on shares of Roivant Sciences from $42.00 to $46.00 and gave the stock a "buy" rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $35.14.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ROIV. SBI Securities Co. Ltd. grew its position in shares of Roivant Sciences by 1,740.3% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,233 shares of the company's stock worth $27,000 after buying an additional 1,166 shares during the last quarter. Allworth Financial LP lifted its holdings in Roivant Sciences by 48.1% in the third quarter. Allworth Financial LP now owns 1,795 shares of the company's stock worth $27,000 after buying an additional 583 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Roivant Sciences in the 4th quarter worth about $47,000. Parallel Advisors LLC boosted its stake in Roivant Sciences by 33.7% in the 1st quarter. Parallel Advisors LLC now owns 2,065 shares of the company's stock worth $57,000 after purchasing an additional 520 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in Roivant Sciences by 7,614.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,700 shares of the company's stock worth $59,000 after buying an additional 2,665 shares during the last quarter. Institutional investors own 64.76% of the company's stock.

Roivant Sciences Company Profile

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women's health.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source