Roivant Sciences (NASDAQ:ROIV) CEO Eric Venker Sells 200,000 Shares of Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CEO Eric Venker sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $36.59, for a total value of $7,318,000.00. Following the sale, the chief executive officer directly owned 1,199,154 shares in the company, valued at $43,877,044.86. This trade represents a 14.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, October 20th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The shares were sold at an average price of $35.11, for a total value of $7,022,000.00.
• On Wednesday, September 30th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The stock was sold at an average price of $36.62, for a total value of $7,324,000.00.
• On Friday, August 28th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The stock was sold at an average price of $35.77, for a total value of $7,154,000.00.

Roivant Sciences Trading Down 1.6%

Shares of NASDAQ ROIV opened at $36.91 on Friday. Roivant Sciences Ltd. has a twelve month low of $19.30 and a twelve month high of $42.50. The stock has a 50 day moving average of $36.65 and a two-hundred day moving average of $31.46.

Roivant Sciences (NASDAQ:ROIV) last announced its earnings results on Friday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping 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 analyst estimates of $2.06 million. On average, equities research analysts forecast that Roivant Sciences Ltd. will post -2.00 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ROIV. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Roivant Sciences during the second quarter worth about $2,166,000. Squarepoint Ops LLC purchased a new position in Roivant Sciences in the second quarter valued at about $16,830,000. Arizona State Retirement System increased its holdings in Roivant Sciences by 24.4% in the second quarter. Arizona State Retirement System now owns 128,364 shares of the company’s stock valued at $4,543,000 after buying an additional 25,199 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Roivant Sciences in the first quarter valued at about $3,957,000. Finally, Bank of America Corp DE lifted its position in shares of Roivant Sciences by 8.0% during the 1st quarter. Bank of America Corp DE now owns 3,163,821 shares of the company’s stock valued at $87,638,000 after acquiring an additional 235,493 shares during the period. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on ROIV. HC Wainwright raised their price target on Roivant Sciences from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, September 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Roivant Sciences in a research report on Wednesday, August 19th. Stifel Nicolaus started coverage on Roivant Sciences in a research note on Wednesday, September 16th. They issued a “buy” rating and a $51.00 target price on the stock. Wolfe Research lowered Roivant Sciences from an “outperform” rating to a “peer perform” rating in a report on Monday, October 12th. Finally, Sanford C. Bernstein upgraded Roivant Sciences to a “strong-buy” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.55.

Roivant Sciences Company Profile

Roivant Sciences Ltd. (NASDAQ: ROIV) is a biopharmaceutical company focused on discovering, developing and commercializing medicines. The company organizes its activities through subsidiaries and partner companies, often referred to as “Vants,” which specialize in particular therapeutic areas and stages of drug development.

Roivant’s research and development activities have included immunology, dermatology, women’s health, rare diseases and other specialty-care fields. Its portfolio has included Vtama (tapinarof) cream, a nonsteroidal topical treatment approved in the United States for plaque psoriasis and atopic dermatitis.