Roivant Sciences Ltd. (NASDAQ:ROIV) CEO Matthew Gline Sells 1,983,257 Shares of Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CEO Matthew Gline sold 1,983,257 shares of Roivant Sciences 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 sale, the chief executive officer now directly owns 17,870,543 shares in the company, valued at $210,693,701.97. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Roivant Sciences Price Performance

Shares of ROIV opened at $11.69 on Wednesday. The business has a 50-day moving average of $11.47 and a 200-day moving average of $11.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 27.91 and a quick ratio of 27.91. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 2.31 and a beta of 1.25. Roivant Sciences Ltd. has a 1 year low of $8.24 and a 1 year high of $13.24.

Roivant Sciences (NASDAQ:ROIV) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.33. Roivant Sciences had a net margin of 2,991.75% and a negative return on equity of 17.23%. The firm had revenue of $55.10 million for the quarter, compared to the consensus estimate of $30.72 million. During the same quarter in the previous year, the company earned ($0.38) EPS. The company’s revenue for the quarter was up 155.1% on a year-over-year basis. As a group, equities research analysts anticipate that Roivant Sciences Ltd. will post -1.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Roivant Sciences

A number of institutional investors have recently bought and sold shares of ROIV. Mutual of America Capital Management LLC raised its position in shares of Roivant Sciences by 0.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 327,079 shares of the company’s stock worth $3,457,000 after acquiring an additional 1,142 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Roivant Sciences by 23.2% in the second quarter. Acadian Asset Management LLC now owns 8,510 shares of the company’s stock worth $89,000 after purchasing an additional 1,603 shares in the last quarter. nVerses Capital LLC acquired a new position in Roivant Sciences in the second quarter valued at approximately $34,000. DNB Asset Management AS lifted its stake in Roivant Sciences by 6.4% in the second quarter. DNB Asset Management AS now owns 56,022 shares of the company’s stock valued at $592,000 after buying an additional 3,386 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in shares of Roivant Sciences during the 2nd quarter worth approximately $36,000. 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.