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

Roivant Sciences Ltd. (NASDAQ:ROIV) CEO Eric Venker sold 200,000 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $30.27, for a total transaction of $6,054,000.00. Following the completion of the sale, the chief executive officer directly owned 1,613,063 shares in the company, valued at $48,827,417.01. This represents a 11.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, April 20th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The shares were sold at an average price of $29.59, for a total transaction of $5,918,000.00.
• On Tuesday, March 17th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The shares were sold at an average price of $28.24, for a total transaction of $5,648,000.00.

Roivant Sciences Price Performance

ROIV opened at $29.96 on Friday. The stock has a market capitalization of $21.44 billion, a PE ratio of -49.93 and a beta of 1.14. The firm’s fifty day moving average price is $28.46 and its 200 day moving average price is $25.06. Roivant Sciences Ltd. has a 12-month low of $10.59 and a 12-month high of $32.79.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly earnings results on Wednesday, May 20th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.57. The firm had revenue of $2.52 million for the quarter, compared to analysts’ expectations 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 prior year, the company posted ($0.29) earnings per share. On average, equities research analysts forecast that Roivant Sciences Ltd. will post -1.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on ROIV shares. HC Wainwright reaffirmed a “buy” rating and issued a $34.00 price target on shares of Roivant Sciences in a report on Thursday. TD Cowen upped their price target on shares of Roivant Sciences from $38.00 to $41.00 and gave the company a “buy” rating in a report on Thursday. Citigroup upped their price target on shares of Roivant Sciences from $35.00 to $42.00 and gave the company a “buy” rating in a report on Thursday. Weiss Ratings reissued a “sell (d)” rating on shares of Roivant Sciences in a report on Friday, May 8th. Finally, Guggenheim increased their target price on shares of Roivant Sciences from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.05.

Institutional Trading of Roivant Sciences

A number of institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley raised its holdings in shares of Roivant Sciences by 31.7% during the fourth quarter. Morgan Stanley now owns 58,359,553 shares of the company’s stock worth $1,266,402,000 after purchasing an additional 14,036,696 shares during the period. Vanguard Group Inc. raised its holdings in shares of Roivant Sciences by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 42,059,041 shares of the company’s stock worth $912,681,000 after purchasing an additional 3,254,113 shares during the period. Rubric Capital Management LP raised its holdings in shares of Roivant Sciences by 14.7% during the second quarter. Rubric Capital Management LP now owns 20,370,336 shares of the company’s stock worth $229,574,000 after purchasing an additional 2,603,260 shares during the period. State Street Corp raised its holdings in shares of Roivant Sciences by 4.8% during the second quarter. State Street Corp now owns 19,773,480 shares of the company’s stock worth $222,847,000 after purchasing an additional 911,827 shares during the period. Finally, UBS Group AG raised its holdings in shares of Roivant Sciences by 570.0% during the fourth quarter. UBS Group AG now owns 18,390,792 shares of the company’s stock worth $399,080,000 after purchasing an additional 15,645,836 shares during the period. 64.76% of the stock is owned by institutional investors and hedge funds.

Roivant Sciences Company Profile

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.