Roivant Sciences (NASDAQ:ROIV) CEO Eric Venker Sells 187,943 Shares of Company Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CEO Eric Venker sold 187,943 shares of the business’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $40.53, for a total transaction of $7,617,329.79. Following the completion of the transaction, the chief executive officer directly owned 811,211 shares of the company’s stock, valued at $32,878,381.83. The trade was a 18.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, November 3rd, Eric Venker sold 200,000 shares of Roivant Sciences stock. The shares were sold at an average price of $36.31, for a total transaction of $7,262,000.00.
• On Wednesday, October 28th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The stock was sold at an average price of $36.59, for a total transaction of $7,318,000.00.
• On Tuesday, October 20th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The stock was sold at an average price of $35.11, for a total transaction of $7,022,000.00.
• On Wednesday, September 30th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The shares were sold at an average price of $36.62, for a total transaction of $7,324,000.00.
• On Friday, August 28th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The shares were sold at an average price of $35.77, for a total transaction of $7,154,000.00.

Roivant Sciences Stock Performance

Shares of NASDAQ ROIV opened at $39.99 on Friday. Roivant Sciences Ltd. has a 1 year low of $19.96 and a 1 year high of $42.50. The firm’s 50 day moving average price is $37.20 and its 200 day moving average price is $32.16.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in Roivant Sciences in the third quarter valued at $2,478,000. Meeder Advisory Services Inc. raised its holdings in shares of Roivant Sciences by 15.3% in the 3rd quarter. Meeder Advisory Services Inc. now owns 8,899 shares of the company’s stock worth $325,000 after purchasing an additional 1,182 shares during the period. Benjamin Edwards Inc. raised its holdings in shares of Roivant Sciences by 79.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 11,145 shares of the company’s stock worth $408,000 after purchasing an additional 4,947 shares during the period. First Trust Advisors LP lifted its stake in shares of Roivant Sciences by 98.3% in the 3rd quarter. First Trust Advisors LP now owns 929,263 shares of the company’s stock valued at $33,983,000 after purchasing an additional 460,640 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new stake in shares of Roivant Sciences during the 3rd quarter worth about $4,926,000. 64.76% of the stock is owned by hedge funds and other institutional investors.

Roivant Sciences News Roundup

These are some of the ROIV news items that stood out recently:

• Positive Sentiment: HC Wainwright raised its price target on ROIV, and recent analyst commentary has been bullish. A separate analysis points to pipeline momentum and potential contributions from trial results and drug-launch revenue. HC Wainwright price-target article Analyst commentary Pipeline momentum analysis
• Neutral Sentiment: A recent article discusses how clinical-trial outcomes and drug-launch revenue could affect Roivant’s stock, but the provided headline does not specify new trial results or revenue figures. Article on trial wins and launch revenue
• Negative Sentiment: CEO Eric Venker sold about 188,000 shares, reducing his position by 18.81%; the transaction was made under a pre-arranged Rule 10b5-1 plan. CFO Richard Pulik sold 125,000 shares on November 10 and another 175,000 on November 11, reducing his position by 44.08%. The sizable insider sales could pressure sentiment, though Venker’s sale was pre-scheduled. CEO SEC filing CFO SEC filing

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ROIV shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 24th. Bank of America reissued a “neutral” rating on shares of Roivant Sciences in a research note on Friday, July 31st. HC Wainwright lifted their price target on Roivant Sciences from $47.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Roivant Sciences in a research note on Wednesday, August 19th. Finally, Wolfe Research lowered shares of Roivant Sciences from an “outperform” rating to a “peer perform” rating in a report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Roivant Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $46.64.

Roivant Sciences Company Profile

Roivant Sciences is a biopharmaceutical company that develops medicines through a network of subsidiary companies, which it calls “Vants.” These businesses focus on advancing drug candidates in areas such as immunology, oncology, neuroscience and rare diseases. Founded in 2014, Roivant has built and supported subsidiaries to develop treatments, manage clinical programs and pursue partnerships. Its portfolio has included both internally developed candidates and medicines licensed from other companies.