Roivant Sciences Ltd. (NASDAQ:ROIV) COO Sells $1,149,000.00 in Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) COO Eric Venker sold 100,000 shares of Roivant Sciences stock in a transaction on Friday, December 20th. The shares were sold at an average price of $11.49, for a total transaction of $1,149,000.00. Following the completion of the transaction, the chief operating officer now owns 595,580 shares in the company, valued at approximately $6,843,214.20. This trade represents a 14.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, November 20th, Eric Venker sold 100,000 shares of Roivant Sciences stock. The stock was sold at an average price of $11.32, for a total transaction of $1,132,000.00.
• On Monday, October 21st, Eric Venker sold 100,000 shares of Roivant Sciences stock. The stock was sold at an average price of $11.65, for a total transaction of $1,165,000.00.

Roivant Sciences Price Performance

NASDAQ ROIV opened at $11.80 on Friday. The business has a 50 day moving average price of $11.91 and a 200 day moving average price of $11.53. The company has a market capitalization of $8.59 billion, a P/E ratio of 2.09 and a beta of 1.25. Roivant Sciences Ltd. has a 1-year low of $9.69 and a 1-year high of $13.06.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ROIV. Bank of New York Mellon Corp grew its stake in Roivant Sciences by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,686,538 shares of the company’s stock valued at $28,397,000 after acquiring an additional 58,541 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Roivant Sciences by 85.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 130,631 shares of the company’s stock valued at $1,381,000 after purchasing an additional 60,221 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Roivant Sciences by 27.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,287 shares of the company’s stock worth $838,000 after purchasing an additional 17,248 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Roivant Sciences during the 2nd quarter worth approximately $218,000. Finally, nVerses Capital LLC purchased a new stake in Roivant Sciences in the 2nd quarter valued at approximately $34,000. Institutional investors and hedge funds own 64.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ROIV shares. Bank of America lifted their price objective on Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a report on Wednesday, September 11th. HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Roivant Sciences in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.93.

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.