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 Roivant Sciences stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.89, for a total value of $2,972,500.00. Following the completion of the transaction, the chief accounting officer now owns 209,322 shares in the company, valued at $2,488,838.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Roivant Sciences Stock Down 1.7 %

ROIV stock opened at $11.57 on Friday. The stock has a market capitalization of $8.55 billion, a PE ratio of 2.29 and a beta of 1.25. Roivant Sciences Ltd. has a 52 week low of $8.24 and a 52 week 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 firm has a 50 day moving average of $11.49 and a 200 day moving average of $11.07.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ROIV. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. Piper Sandler raised their price target on shares of Roivant Sciences from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Bank of America lifted their price objective on shares of Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Finally, HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a research report on Thursday, September 19th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.39.

Institutional Trading of Roivant Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rubric Capital Management LP raised its stake in shares of Roivant Sciences by 81.0% in the fourth quarter. Rubric Capital Management LP now owns 19,000,000 shares of the company’s stock worth $213,370,000 after purchasing an additional 8,500,000 shares during the last quarter. Norges Bank acquired a new position in Roivant Sciences in the 4th quarter worth approximately $41,506,000. Troluce Capital Advisors LLC purchased a new position in Roivant Sciences during the 2nd quarter worth approximately $31,182,000. First Trust Advisors LP lifted its stake in Roivant Sciences by 434.8% during the 4th quarter. First Trust Advisors LP now owns 2,739,438 shares of the company’s stock valued at $30,764,000 after acquiring an additional 2,227,192 shares during the period. Finally, BlackBarn Capital Partners LP purchased a new stake in shares of Roivant Sciences in the 4th quarter valued at $17,406,000. Institutional investors and hedge funds 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.