Insider Selling: Roivant Sciences Ltd. (NASDAQ:ROIV) COO Sells 315,522 Shares of Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) COO Eric Venker sold 315,522 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $11.06, for a total transaction of $3,489,673.32. Following the completion of the transaction, the chief operating officer now owns 959,457 shares in the company, valued at approximately $10,611,594.42. This trade represents a 24.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, March 24th, Eric Venker sold 434,478 shares of Roivant Sciences stock. The stock was sold at an average price of $10.82, for a total transaction of $4,701,051.96.
• On Thursday, February 20th, Eric Venker sold 100,000 shares of Roivant Sciences stock. The stock was sold at an average price of $10.65, for a total transaction of $1,065,000.00.
• On Thursday, February 13th, Eric Venker sold 218,041 shares of Roivant Sciences stock. The stock was sold at an average price of $10.42, for a total value of $2,271,987.22.
• On Tuesday, January 21st, Eric Venker sold 100,000 shares of Roivant Sciences stock. The shares were sold at an average price of $11.28, for a total value of $1,128,000.00.
• On Monday, December 30th, Eric Venker sold 177,704 shares of Roivant Sciences stock. The stock was sold at an average price of $11.54, for a total value of $2,050,704.16.
• On Friday, December 27th, Eric Venker sold 176,900 shares of Roivant Sciences stock. The shares were sold at an average price of $11.82, for a total transaction of $2,090,958.00.

Roivant Sciences Stock Up 0.4 %

ROIV opened at $10.83 on Tuesday. The company has a 50 day moving average of $10.79 and a two-hundred day moving average of $11.45. Roivant Sciences Ltd. has a 52-week low of $9.93 and a 52-week high of $13.06. The company has a market cap of $7.73 billion, a P/E ratio of -72.20 and a beta of 1.26.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.04. Roivant Sciences had a negative return on equity of 14.05% and a negative net margin of 119.54%. Research analysts anticipate that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ROIV. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a research report on Tuesday, February 11th. Cantor Fitzgerald upgraded Roivant Sciences to a “strong-buy” rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Roivant Sciences has a consensus rating of “Buy” and an average price target of $18.08.

Institutional Investors Weigh In On Roivant Sciences

Several hedge funds have recently modified their holdings of ROIV. Norges Bank purchased a new position in Roivant Sciences in the 4th quarter worth approximately $52,443,000. TOMS Capital Investment Management LP purchased a new position in shares of Roivant Sciences in the third quarter valued at $46,333,000. Invesco Ltd. increased its stake in Roivant Sciences by 49.7% during the 4th quarter. Invesco Ltd. now owns 9,515,058 shares of the company’s stock worth $112,563,000 after buying an additional 3,159,603 shares during the period. FMR LLC lifted its holdings in Roivant Sciences by 5.6% in the 3rd quarter. FMR LLC now owns 49,145,056 shares of the company’s stock worth $567,134,000 after buying an additional 2,593,910 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Roivant Sciences by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 44,087,287 shares of the company’s stock valued at $521,553,000 after buying an additional 2,404,232 shares during the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

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.