Insider Selling: Roivant Sciences (NASDAQ:ROIV) Director Sells 917,282 Shares of Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) Director Daniel Allen Gold sold 917,282 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $23.04, for a total value of $21,134,177.28. Following the sale, the director directly owned 17,130,445 shares of the company’s stock, valued at $394,685,452.80. The trade was a 5.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Daniel Allen Gold also recently made the following trade(s):

• On Wednesday, December 17th, Daniel Allen Gold sold 777,332 shares of Roivant Sciences stock. The stock was sold at an average price of $23.07, for a total value of $17,933,049.24.
• On Wednesday, November 19th, Daniel Allen Gold sold 1,300,000 shares of Roivant Sciences stock. The shares were sold at an average price of $20.23, for a total transaction of $26,299,000.00.

Roivant Sciences Stock Performance

NASDAQ:ROIV traded down $0.91 during trading hours on Thursday, reaching $21.79. The company had a trading volume of 8,173,006 shares, compared to its average volume of 7,547,139. The stock has a 50-day moving average of $19.88 and a two-hundred day moving average of $14.99. Roivant Sciences Ltd. has a one year low of $8.73 and a one year high of $23.47.

Analyst Ratings Changes

Several research firms have weighed in on ROIV. Bank of America increased their target price on shares of Roivant Sciences from $12.00 to $16.50 and gave the stock a “neutral” rating in a research report on Thursday, September 18th. HC Wainwright upped their price target on shares of Roivant Sciences from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, December 12th. The Goldman Sachs Group upped their target price on Roivant Sciences from $24.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday. Weiss Ratings upgraded Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. Finally, Jefferies Financial Group upped their price objective on Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Roivant Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $25.19.

Institutional Investors Weigh In On Roivant Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rubric Capital Management LP grew its position in Roivant Sciences by 14.7% in the second quarter. Rubric Capital Management LP now owns 20,370,336 shares of the company’s stock worth $229,574,000 after acquiring an additional 2,603,260 shares in the last quarter. State Street Corp raised its holdings in shares of Roivant Sciences by 4.8% during the 2nd quarter. State Street Corp now owns 19,773,480 shares of the company’s stock valued at $222,847,000 after buying an additional 911,827 shares in the last quarter. Two Seas Capital LP lifted its position in Roivant Sciences by 4.6% in the 2nd quarter. Two Seas Capital LP now owns 10,598,040 shares of the company’s stock worth $119,440,000 after buying an additional 461,733 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Roivant Sciences by 18.0% in the third quarter. Dimensional Fund Advisors LP now owns 9,308,710 shares of the company’s stock worth $140,839,000 after buying an additional 1,423,074 shares in the last quarter. Finally, BlackBarn Capital Partners LP boosted its stake in Roivant Sciences by 15.2% in the first quarter. BlackBarn Capital Partners LP now owns 4,750,000 shares of the company’s stock worth $47,928,000 after buying an additional 625,000 shares in the last quarter. 64.76% of the stock is owned by institutional investors.

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.