Insider Selling: Roivant Sciences Ltd. (NASDAQ:ROIV) CAO Sells 227,500 Shares of Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CAO Rakhi Kumar sold 227,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $10.43, for a total transaction of $2,372,825.00. Following the transaction, the chief accounting officer now directly owns 163,264 shares of the company’s stock, valued at $1,702,843.52. This represents a 58.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Roivant Sciences Stock Performance

Shares of ROIV traded up $0.12 on Tuesday, hitting $10.68. 3,873,062 shares of the stock traded hands, compared to its average volume of 4,272,170. The company has a market capitalization of $7.77 billion, a PE ratio of 1.89 and a beta of 1.25. The business has a 50 day simple moving average of $11.31 and a 200 day simple moving average of $11.59. Roivant Sciences Ltd. has a one year low of $9.76 and a one year high of $13.06.

Roivant Sciences (NASDAQ:ROIV) last posted its earnings results on Monday, February 10th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. Roivant Sciences had a net margin of 3,827.42% and a negative return on equity of 14.65%. On average, equities analysts expect that Roivant Sciences Ltd. will post -1.19 earnings per share for the current year.

Institutional Investors Weigh In On Roivant Sciences

A number of large investors have recently added to or reduced their stakes in ROIV. Creative Planning grew its position in Roivant Sciences by 47.5% in the 3rd quarter. Creative Planning now owns 23,541 shares of the company’s stock worth $272,000 after purchasing an additional 7,579 shares during the period. BTS Asset Management Inc. bought a new stake in Roivant Sciences in the 3rd quarter worth approximately $450,000. Louisiana State Employees Retirement System grew its position in Roivant Sciences by 26.3% in the 3rd quarter. Louisiana State Employees Retirement System now owns 120,900 shares of the company’s stock worth $1,395,000 after purchasing an additional 25,200 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Roivant Sciences by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,747 shares of the company’s stock worth $307,000 after purchasing an additional 4,692 shares during the period. Finally, State of Alaska Department of Revenue grew its position in Roivant Sciences by 37.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 50,675 shares of the company’s stock worth $584,000 after purchasing an additional 13,675 shares during the period. Institutional investors own 64.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ROIV shares. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a research note on Tuesday, February 11th. Cantor Fitzgerald raised shares of Roivant Sciences to a “strong-buy” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Roivant Sciences has an average rating of “Buy” and a consensus price target of $18.08.

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.