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 company’s 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 sale, the chief accounting officer now directly owns 209,322 shares in the company, valued at approximately $2,488,838.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Roivant Sciences Price Performance

ROIV traded down $0.21 during midday trading on Tuesday, hitting $11.69. The company had a trading volume of 20,026,589 shares, compared to its average volume of 6,111,174. Roivant Sciences Ltd. has a twelve month low of $8.24 and a twelve month 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 company has a market capitalization of $8.64 billion, a PE ratio of 2.31 and a beta of 1.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 27.91 and a current ratio of 27.91.

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

Hedge Funds Weigh In On Roivant Sciences

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC raised its holdings in Roivant Sciences by 26.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 18,742 shares of the company’s stock worth $210,000 after purchasing an additional 3,955 shares during the last quarter. Norges Bank bought a new position in shares of Roivant Sciences in the 4th quarter valued at about $41,506,000. Dynamic Technology Lab Private Ltd grew its position in shares of Roivant Sciences by 35.1% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 17,155 shares of the company’s stock worth $193,000 after buying an additional 4,458 shares during the period. Decheng Capital LLC bought a new stake in shares of Roivant Sciences during the fourth quarter worth approximately $14,371,000. Finally, Treasurer of the State of North Carolina lifted its holdings in Roivant Sciences by 3.4% in the fourth quarter. Treasurer of the State of North Carolina now owns 157,830 shares of the company’s stock valued at $1,772,000 after buying an additional 5,190 shares during the period. Institutional investors own 64.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Roivant Sciences in a research report on Thursday, September 19th. Piper Sandler increased their price objective on Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Bank of America boosted their target price on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock 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.