Insider Selling: Roivant Sciences Ltd. (NASDAQ:ROIV) CAO Sells 250,000 Shares of Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CAO Rakhi Kumar sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.89, for a total transaction of $2,972,500.00. Following the sale, the chief accounting officer now owns 209,322 shares of the company’s stock, valued at $2,488,838.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Roivant Sciences Stock Performance

NASDAQ:ROIV traded down $0.21 during midday trading on Tuesday, reaching $11.69. The stock had a trading volume of 20,026,589 shares, compared to its average volume of 6,111,174. The stock has a market capitalization of $8.64 billion, a P/E ratio of 2.31 and a beta of 1.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 27.91 and a quick ratio of 27.91. Roivant Sciences Ltd. has a 1-year low of $8.24 and a 1-year high of $13.24. The firm’s fifty day simple moving average is $11.47 and its 200-day simple moving average is $11.06.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.33. Roivant Sciences had a negative return on equity of 17.23% and a net margin of 2,991.75%. The business had revenue of $55.10 million for the quarter, compared to analyst estimates of $30.72 million. During the same period in the previous year, the company posted ($0.38) earnings per share. The firm’s revenue for the quarter was up 155.1% on a year-over-year basis. On average, equities research analysts forecast that Roivant Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on ROIV. Piper Sandler increased their target price on shares of Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. Bank of America boosted their target price on Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a research report on Thursday, September 19th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Roivant Sciences has an average rating of “Moderate Buy” and an average target price of $17.39.

Institutional Investors Weigh In On Roivant Sciences

Several hedge funds have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Roivant Sciences by 26.7% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 18,742 shares of the company’s stock valued at $210,000 after buying an additional 3,955 shares during the period. Norges Bank acquired a new stake in shares of Roivant Sciences during the 4th quarter worth approximately $41,506,000. Dynamic Technology Lab Private Ltd grew its holdings in shares of Roivant Sciences by 35.1% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 17,155 shares of the company’s stock worth $193,000 after purchasing an additional 4,458 shares in the last quarter. Decheng Capital LLC bought a new stake in shares of Roivant Sciences during the fourth quarter valued at approximately $14,371,000. Finally, Treasurer of the State of North Carolina raised its stake in shares of Roivant Sciences by 3.4% in the fourth quarter. Treasurer of the State of North Carolina now owns 157,830 shares of the company’s stock valued at $1,772,000 after purchasing an additional 5,190 shares in the last quarter. 64.76% of the stock is owned by 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.