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

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 approximately $210,693,701.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Roivant Sciences Stock Down 1.8 %

ROIV traded down $0.21 during trading hours on Tuesday, hitting $11.69. 20,026,589 shares of the company’s stock were exchanged, compared to its average volume of 6,111,174. The company has a current ratio of 27.91, a quick ratio of 27.91 and a debt-to-equity ratio of 0.05. Roivant Sciences Ltd. has a 12-month low of $8.24 and a 12-month high of $13.24. The firm has a market cap of $8.64 billion, a P/E ratio of 2.31 and a beta of 1.25. The firm has a 50 day moving average of $11.47 and a 200 day moving average of $11.06.

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

Hedge Funds Weigh In On Roivant Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new stake in shares of Roivant Sciences during the 2nd quarter worth $34,000. Point72 Hong Kong Ltd acquired a new stake in Roivant Sciences in the second quarter valued at $36,000. Quarry LP purchased a new stake in Roivant Sciences during the 2nd quarter worth about $53,000. Acadian Asset Management LLC acquired a new position in shares of Roivant Sciences during the 1st quarter worth about $72,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of Roivant Sciences in the 2nd quarter valued at about $101,000. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.