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

Roivant Sciences Ltd. (NASDAQ:ROIV) CEO Eric Venker sold 200,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $33.16, for a total value of $6,632,000.00. Following the completion of the sale, the chief executive officer directly owned 1,613,063 shares of the company’s stock, valued at $53,489,169.08. This trade represents a 11.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Friday, May 22nd, Eric Venker sold 200,000 shares of Roivant Sciences stock. The shares were sold at an average price of $30.27, for a total transaction of $6,054,000.00.
• On Monday, April 20th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The stock was sold at an average price of $29.59, for a total transaction of $5,918,000.00.

Roivant Sciences Trading Up 0.1%

Roivant Sciences stock traded up $0.05 during midday trading on Friday, hitting $34.07. 12,406,494 shares of the stock were exchanged, compared to its average volume of 6,151,323. The stock’s 50-day simple moving average is $29.57 and its 200 day simple moving average is $26.72. Roivant Sciences Ltd. has a fifty-two week low of $10.70 and a fifty-two week high of $34.68. The stock has a market capitalization of $24.51 billion, a price-to-earnings ratio of -56.78 and a beta of 1.13.

Roivant Sciences (NASDAQ:ROIV) last posted its earnings results on Wednesday, May 20th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.57. The company had revenue of $2.52 million for the quarter, compared to analyst estimates of $3.41 million. Roivant Sciences had a negative net margin of 3,629.19% and a negative return on equity of 20.54%. During the same period in the previous year, the business posted ($0.29) EPS. Equities analysts anticipate that Roivant Sciences Ltd. will post -1.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Roivant Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in Roivant Sciences by 15.4% during the first quarter. Goldman Sachs Group Inc. now owns 2,433,386 shares of the company’s stock worth $24,553,000 after purchasing an additional 324,764 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Roivant Sciences by 1.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,445,807 shares of the company’s stock valued at $24,678,000 after purchasing an additional 34,341 shares during the period. American Century Companies Inc. grew its holdings in shares of Roivant Sciences by 1.9% in the second quarter. American Century Companies Inc. now owns 89,625 shares of the company’s stock valued at $1,010,000 after purchasing an additional 1,689 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Roivant Sciences by 149.9% in the second quarter. Russell Investments Group Ltd. now owns 11,467 shares of the company’s stock valued at $129,000 after purchasing an additional 6,879 shares in the last quarter. Finally, M&T Bank Corp increased its stake in Roivant Sciences by 10.2% during the 2nd quarter. M&T Bank Corp now owns 12,802 shares of the company’s stock worth $144,000 after buying an additional 1,181 shares during the period. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ROIV shares. Weiss Ratings lowered Roivant Sciences from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $34.00 price target on shares of Roivant Sciences in a research note on Thursday, May 21st. Sanford C. Bernstein initiated coverage on Roivant Sciences in a research note on Friday, March 20th. They issued an “outperform” rating and a $35.00 price target on the stock. Citigroup increased their price target on Roivant Sciences from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Roivant Sciences in a research report on Tuesday, March 3rd. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.59.

About Roivant Sciences

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women’s health.