Insider Selling: Roivant Sciences Ltd. (NASDAQ:ROIV) CAO Sells $2,972,500.00 in Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CAO Rakhi Kumar sold 250,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was 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 $2,488,838.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Roivant Sciences Stock Performance

ROIV stock opened at $11.57 on Friday. The firm has a market cap of $8.55 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. Roivant Sciences Ltd. has a twelve month low of $8.24 and a twelve month high of $13.24. The company has a quick ratio of 27.91, a current ratio of 27.91 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $11.49 and its two-hundred day simple moving average is $11.07.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.33. The company had revenue of $55.10 million during 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 revenue for the quarter was up 155.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.38) EPS. Analysts predict that Roivant Sciences Ltd. will post -1.14 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on ROIV. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a research note on Thursday, September 19th. Piper Sandler boosted their target price on Roivant Sciences from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. Finally, Bank of America boosted their price objective on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.39.

Institutional Trading of Roivant Sciences

A number of large investors have recently modified their holdings of the company. Texas Permanent School Fund Corp bought a new stake in Roivant Sciences during the 1st quarter valued at $3,115,000. American International Group Inc. increased its stake in shares of Roivant Sciences by 7,589.5% during the first quarter. American International Group Inc. now owns 450,065 shares of the company’s stock valued at $4,744,000 after buying an additional 444,212 shares during the period. Nordea Investment Management AB bought a new stake in shares of Roivant Sciences in the first quarter valued at about $2,851,000. Magnetar Financial LLC purchased a new stake in Roivant Sciences in the first quarter worth about $1,576,000. Finally, Mutual of America Capital Management LLC grew its holdings in Roivant Sciences by 116.8% during the 1st quarter. Mutual of America Capital Management LLC now owns 325,937 shares of the company’s stock worth $3,435,000 after acquiring an additional 175,574 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

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.