Roivant Sciences (NASDAQ:ROIV) Shares Down 3.6% on Insider Selling

Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) traded down 3.6% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $11.45 and last traded at $11.47. 3,911,579 shares changed hands during trading, a decline of 35% from the average session volume of 6,023,591 shares. The stock had previously closed at $11.90.

Specifically, CAO Rakhi Kumar sold 250,000 shares of Roivant Sciences stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.89, for a total transaction of $2,972,500.00. Following the completion of the sale, the chief accounting officer now owns 209,322 shares in the company, valued at approximately $2,488,838.58. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew Gline sold 1,983,257 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total transaction of $23,382,600.03. Following the completion of the transaction, the chief executive officer now owns 17,870,543 shares in the company, valued at $210,693,701.97. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

ROIV has been the subject of several recent research reports. Piper Sandler upped their target price on shares of Roivant Sciences from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Bank of America upped 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 set a $18.00 target price on shares of Roivant Sciences in a report on Thursday, September 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Roivant Sciences currently has an average rating of “Moderate Buy” and an average price target of $17.39.

Roivant Sciences Stock Down 1.7 %

The company has a debt-to-equity ratio of 0.05, a quick ratio of 27.91 and a current ratio of 27.91. The firm’s fifty day simple moving average is $11.48 and its 200 day simple moving average is $11.07. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 2.33 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.33. The business had revenue of $55.10 million for the quarter, compared to analyst estimates of $30.72 million. Roivant Sciences had a net margin of 2,991.75% and a negative return on equity of 17.23%. The firm’s quarterly revenue was up 155.1% on a year-over-year basis. During the same period last year, the business posted ($0.38) earnings per share. On average, sell-side analysts forecast that Roivant Sciences Ltd. will post -1.14 earnings per share for the current year.

Hedge Funds Weigh In On Roivant Sciences

Several hedge funds have recently made changes to their positions in the business. Rubric Capital Management LP lifted its position in Roivant Sciences by 15.0% during the 2nd quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company’s stock worth $243,110,000 after buying an additional 3,000,000 shares in the last quarter. Vanguard Group Inc. boosted its position in Roivant Sciences by 14.6% during the first quarter. Vanguard Group Inc. now owns 8,106,332 shares of the company’s stock valued at $85,441,000 after purchasing an additional 1,030,681 shares during the last quarter. DME Capital Management LP increased its position in shares of Roivant Sciences by 14.8% during the 2nd quarter. DME Capital Management LP now owns 4,810,960 shares of the company’s stock worth $50,852,000 after purchasing an additional 620,470 shares during the last quarter. Norges Bank acquired a new stake in shares of Roivant Sciences in the 4th quarter valued at approximately $41,506,000. Finally, BlackBarn Capital Partners LP grew its stake in shares of Roivant Sciences by 63.1% in the second quarter. BlackBarn Capital Partners LP now owns 3,100,000 shares of the company’s stock valued at $32,767,000 after buying an additional 1,199,406 shares in the last quarter. 64.76% of the stock is owned by institutional investors.

Roivant Sciences Company Profile

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.