Roivant Sciences Ltd. (NASDAQ:ROIV) CEO Sells $23,382,600.03 in Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CEO Matthew Gline sold 1,983,257 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $23,382,600.03. Following the sale, the chief executive officer now directly owns 17,870,543 shares in the company, valued at approximately $210,693,701.97. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Roivant Sciences Price Performance

NASDAQ:ROIV traded down $0.21 during trading hours on Tuesday, hitting $11.69. 20,026,589 shares of the stock were exchanged, compared to its average volume of 6,111,174. The firm’s fifty day moving average price is $11.47 and its 200 day moving average price is $11.06. Roivant Sciences Ltd. has a 52-week low of $8.24 and a 52-week high of $13.24. The company has a market cap of $8.64 billion, a P/E ratio of 2.31 and a beta of 1.25. The company has a current ratio of 27.91, a quick ratio of 27.91 and a debt-to-equity ratio of 0.05.

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

Institutional Investors Weigh In On Roivant Sciences

A number of hedge funds have recently modified their holdings of the business. nVerses Capital LLC acquired a new stake in shares of Roivant Sciences in the second quarter valued at approximately $34,000. Point72 Hong Kong Ltd acquired a new stake in shares of Roivant Sciences in the 2nd quarter worth $36,000. Quarry LP purchased a new position in shares of Roivant Sciences during the 2nd quarter worth $53,000. Acadian Asset Management LLC acquired a new position in shares of Roivant Sciences during the 1st quarter valued at about $72,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Roivant Sciences in the second quarter valued at about $101,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on ROIV. Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a research note on Thursday, September 19th. Bank of America lifted their price target 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, Piper Sandler increased their price target on Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.39.

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.