Rakhi Kumar Sells 227,500 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CAO Rakhi Kumar sold 227,500 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $10.43, for a total transaction of $2,372,825.00. Following the transaction, the chief accounting officer now directly owns 163,264 shares in the company, valued at approximately $1,702,843.52. This represents a 58.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Roivant Sciences Stock Up 0.5 %

Shares of ROIV opened at $10.72 on Friday. The stock has a market capitalization of $7.65 billion, a P/E ratio of -71.46 and a beta of 1.25. The firm has a fifty day simple moving average of $11.23 and a two-hundred day simple moving average of $11.58. Roivant Sciences Ltd. has a twelve month low of $9.76 and a twelve month high of $13.06.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. Roivant Sciences had a negative net margin of 119.54% and a negative return on equity of 14.05%. Sell-side analysts expect that Roivant Sciences Ltd. will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Roivant Sciences

Several institutional investors have recently added to or reduced their stakes in ROIV. Creative Planning boosted its position in Roivant Sciences by 47.5% during the 3rd quarter. Creative Planning now owns 23,541 shares of the company’s stock valued at $272,000 after buying an additional 7,579 shares during the period. BTS Asset Management Inc. purchased a new stake in shares of Roivant Sciences in the 3rd quarter worth about $450,000. Louisiana State Employees Retirement System lifted its position in shares of Roivant Sciences by 26.3% in the 3rd quarter. Louisiana State Employees Retirement System now owns 120,900 shares of the company’s stock worth $1,395,000 after purchasing an additional 25,200 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Roivant Sciences by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,747 shares of the company’s stock worth $307,000 after purchasing an additional 4,692 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in shares of Roivant Sciences by 37.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 50,675 shares of the company’s stock worth $584,000 after purchasing an additional 13,675 shares during the period. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ROIV. Cantor Fitzgerald raised shares of Roivant Sciences to a “strong-buy” rating in a report on Thursday, January 30th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $18.08.

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.