Roivant Sciences (NASDAQ:ROIV) Stock: Insider Eric Venker Sells 187,943 Shares

Roivant Sciences Ltd. (NASDAQ:ROIV) CEO Eric Venker sold 187,943 shares of the business’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $40.53, for a total value of $7,617,329.79. Following the completion of the sale, the chief executive officer owned 811,211 shares in the company, valued at approximately $32,878,381.83. This trade represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Eric Venker also recently made the following trade(s):

• On Tuesday, November 3rd, Eric Venker sold 200,000 shares of Roivant Sciences stock. The stock was sold at an average price of $36.31, for a total value of $7,262,000.00.
• On Wednesday, October 28th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The stock was sold at an average price of $36.59, for a total value of $7,318,000.00.
• On Tuesday, October 20th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The shares were sold at an average price of $35.11, for a total value of $7,022,000.00.
• On Wednesday, September 30th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The shares were sold at an average price of $36.62, for a total value of $7,324,000.00.
• On Friday, August 28th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The shares were sold at an average price of $35.77, for a total value of $7,154,000.00.

Roivant Sciences Stock Down 1.2%

NASDAQ:ROIV opened at $39.53 on Friday. Roivant Sciences Ltd. has a twelve month low of $19.96 and a twelve month high of $42.50. The business has a 50 day moving average price of $37.31 and a two-hundred day moving average price of $32.25.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ROIV. Alpine Bank Wealth Management bought a new position in Roivant Sciences during the third quarter worth about $25,000. Compass Financial Management LLC acquired a new position in shares of Roivant Sciences during the 3rd quarter worth approximately $37,000. Kovack Advisors Inc. acquired a new position in shares of Roivant Sciences during the 3rd quarter worth approximately $47,000. Parallel Advisors LLC increased its holdings in shares of Roivant Sciences by 33.7% during the 1st quarter. Parallel Advisors LLC now owns 2,065 shares of the company’s stock worth $57,000 after acquiring an additional 520 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in Roivant Sciences by 21.8% in the 1st quarter. Bessemer Group Inc. now owns 2,465 shares of the company’s stock valued at $69,000 after acquiring an additional 441 shares during the period. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Roivant Sciences

Here are a few of the latest stories about ROIV:

• Positive Sentiment: HC Wainwright raised its price target to $48 and maintained a Buy rating. Other recent commentary has pointed to Roivant’s pipeline momentum and possible contributions from clinical progress and drug-launch revenue. HC Wainwright price-target report Pipeline momentum analysis
• Neutral Sentiment: A separate article examines how trial outcomes and drug-launch revenue could affect ROIV, but the provided headline does not report new trial results or specific revenue figures. Trial and drug-launch analysis
• Negative Sentiment: CEO Eric Venker sold 187,943 shares, reducing his stake by 18.81%; the sale was made under a pre-arranged Rule 10b5-1 plan. CFO Richard Pulik sold 125,000 shares on Nov. 10 and another 175,000 on Nov. 11, cutting his position by 44.08%. These substantial insider sales may create near-term pressure on the stock, although the CEO’s transaction was scheduled in advance. CEO SEC filing CFO insider-sales report

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ROIV. Bank of America restated a “neutral” rating on shares of Roivant Sciences in a report on Friday, July 31st. Stifel Nicolaus assumed coverage on Roivant Sciences in a report on Wednesday, September 16th. They set a “buy” rating and a $51.00 target price on the stock. TD Cowen reissued a “buy” rating on shares of Roivant Sciences in a research report on Wednesday, October 21st. UBS Group set a $55.00 price target on Roivant Sciences in a research note on Wednesday, September 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Roivant Sciences in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Roivant Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $46.64.

Roivant Sciences Company Profile

Roivant Sciences is a biopharmaceutical company that develops medicines through a network of subsidiary companies, which it calls “Vants.” These businesses focus on advancing drug candidates in areas such as immunology, oncology, neuroscience and rare diseases. Founded in 2014, Roivant has built and supported subsidiaries to develop treatments, manage clinical programs and pursue partnerships. Its portfolio has included both internally developed candidates and medicines licensed from other companies.