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 company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.89, for a total value of $2,972,500.00. Following the sale, the chief accounting officer now owns 209,322 shares of the company’s stock, valued at $2,488,838.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Roivant Sciences Price Performance

ROIV stock opened at $11.77 on Thursday. 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 Ltd. has a 52-week low of $8.24 and a 52-week high of $13.24. The company has a market capitalization of $8.69 billion, a P/E ratio of 2.33 and a beta of 1.25. The company has a fifty day moving average price of $11.48 and a 200-day moving average price of $11.07.

Roivant Sciences (NASDAQ:ROIV) last announced its earnings results on Thursday, August 8th. The company reported $0.12 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $55.10 million for the quarter, compared to the consensus estimate of $30.72 million. During the same period in the previous year, the business earned ($0.38) EPS. The business’s quarterly revenue was up 155.1% compared to the same quarter last year. As a group, equities analysts expect that Roivant Sciences Ltd. will post -1.14 EPS for the current year.

Institutional Trading of Roivant Sciences

Several institutional investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC raised its holdings in Roivant Sciences by 51.3% during the 2nd quarter. Clearbridge Investments LLC now owns 1,860,536 shares of the company’s stock worth $19,666,000 after purchasing an additional 630,712 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in Roivant Sciences by 318.8% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 158,300 shares of the company’s stock worth $1,674,000 after buying an additional 120,500 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Roivant Sciences by 39.4% in the second quarter. Cetera Investment Advisers now owns 100,288 shares of the company’s stock valued at $1,060,000 after buying an additional 28,324 shares during the period. Point72 Asset Management L.P. boosted its position in Roivant Sciences by 40.1% during the second quarter. Point72 Asset Management L.P. now owns 647,126 shares of the company’s stock valued at $6,840,000 after acquiring an additional 185,226 shares during the last quarter. Finally, Quarry LP acquired a new stake in Roivant Sciences during the 2nd quarter worth about $53,000. 64.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ROIV has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $18.00 price objective 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 research note on Wednesday, July 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. Finally, Bank of America raised their target price 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. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently 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.