Roivant Sciences Ltd. (NASDAQ:ROIV) CAO Rakhi Kumar Sells 250,000 Shares

Roivant Sciences Ltd. (NASDAQ:ROIV) CAO Rakhi Kumar sold 250,000 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 209,322 shares of the company’s stock, valued at $2,488,838.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Roivant Sciences Trading Down 1.8 %

Shares of ROIV stock opened at $11.69 on Wednesday. Roivant Sciences Ltd. has a 1-year low of $8.24 and a 1-year high of $13.24. The firm’s 50-day simple moving average is $11.47 and its 200-day simple moving average is $11.06. The firm has a market cap of $8.64 billion, a P/E ratio of 2.31 and a beta of 1.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 27.91 and a quick ratio of 27.91.

Roivant Sciences (NASDAQ:ROIV) last issued its earnings results 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 firm had revenue of $55.10 million for the quarter, compared to analysts’ expectations of $30.72 million. Roivant Sciences had a negative return on equity of 17.23% and a net margin of 2,991.75%. The firm’s revenue for the quarter was up 155.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.38) earnings per share. As a group, equities analysts forecast that Roivant Sciences Ltd. will post -1.14 EPS for the current year.

Institutional Investors Weigh In On Roivant Sciences

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

Analyst Upgrades and Downgrades

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

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.