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

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 completion of the transaction, the chief accounting officer now directly owns 163,264 shares in the company, valued at $1,702,843.52. This trade represents a 58.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Roivant Sciences Stock Performance

Shares of NASDAQ:ROIV opened at $10.67 on Thursday. Roivant Sciences Ltd. has a one year low of $9.76 and a one year high of $13.06. The stock has a market capitalization of $7.61 billion, a price-to-earnings ratio of -71.13 and a beta of 1.25. The company has a 50-day simple moving average of $11.25 and a 200-day simple moving average of $11.59.

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

Institutional Investors Weigh In On Roivant Sciences

Hedge funds have recently modified their holdings of the stock. Creative Planning increased its stake in Roivant Sciences by 47.5% in 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. acquired a new position in shares of Roivant Sciences during the third quarter worth about $450,000. Louisiana State Employees Retirement System raised its holdings in Roivant Sciences by 26.3% during the third 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Roivant Sciences by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,747 shares of the company’s stock valued at $307,000 after purchasing an additional 4,692 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in 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 valued at $584,000 after purchasing an additional 13,675 shares in the last quarter. 64.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ROIV has been the subject of several research analyst reports. Cantor Fitzgerald upgraded shares of Roivant Sciences to a “strong-buy” rating in a research note on Thursday, January 30th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $18.08.

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.