Insider Selling: Roivant Sciences Ltd. (NASDAQ:ROIV) Director Sells 368,052 Shares of Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) Director Keith S. Manchester sold 368,052 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $11.62, for a total transaction of $4,276,764.24. Following the transaction, the director now directly owns 1,412,126 shares of the company’s stock, valued at $16,408,904.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Roivant Sciences Price Performance

NASDAQ:ROIV opened at $11.48 on Friday. The company has a quick ratio of 27.91, a current 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 stock’s 50 day moving average price is $11.50 and its two-hundred day moving average price is $11.08. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 2.27 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly 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. 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 analysts’ expectations of $30.72 million. During the same quarter in the prior year, the business earned ($0.38) EPS. The firm’s revenue for the quarter was up 155.1% on a year-over-year basis. On average, analysts anticipate that Roivant Sciences Ltd. will post -1.14 earnings per share for the current year.

Institutional Trading of Roivant Sciences

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

Analysts Set New Price Targets

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