Rakhi Kumar Sells 227,500 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CAO Rakhi Kumar sold 227,500 shares of Roivant Sciences stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $10.43, for a total transaction of $2,372,825.00. Following the completion of the sale, the chief accounting officer now directly owns 163,264 shares in the company, valued at $1,702,843.52. This represents a 58.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Roivant Sciences Stock Up 1.1 %

Roivant Sciences stock opened at $10.68 on Wednesday. The company has a fifty day simple moving average of $11.31 and a 200-day simple moving average of $11.59. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 1.89 and a beta of 1.25. Roivant Sciences Ltd. has a 52-week low of $9.76 and a 52-week high of $13.06.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. Roivant Sciences had a net margin of 3,827.42% and a negative return on equity of 14.65%. On average, research analysts anticipate that Roivant Sciences Ltd. will post -1.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Roivant Sciences

A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Roivant Sciences in the 4th quarter worth $52,443,000. TOMS Capital Investment Management LP acquired a new position in shares of Roivant Sciences during the 3rd quarter valued at about $46,333,000. Invesco Ltd. grew its holdings in shares of Roivant Sciences by 49.7% in the fourth quarter. Invesco Ltd. now owns 9,515,058 shares of the company’s stock valued at $112,563,000 after purchasing an additional 3,159,603 shares during the period. FMR LLC increased its position in Roivant Sciences by 5.6% during the third quarter. FMR LLC now owns 49,145,056 shares of the company’s stock worth $567,134,000 after purchasing an additional 2,593,910 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Roivant Sciences by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 44,087,287 shares of the company’s stock worth $521,553,000 after purchasing an additional 2,404,232 shares during the period. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ROIV. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a research report on Tuesday, February 11th. Cantor Fitzgerald raised shares of Roivant Sciences to a “strong-buy” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $18.08.

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.