Matthew Gline Sells 1,983,257 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CEO Matthew Gline sold 1,983,257 shares of Roivant Sciences stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total value of $23,382,600.03. Following the sale, the chief executive officer now directly owns 17,870,543 shares in the company, valued at $210,693,701.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Roivant Sciences Stock Up 0.7 %

Shares of Roivant Sciences stock opened at $11.77 on Thursday. The company has a 50-day simple moving average of $11.48 and a two-hundred day simple moving average of $11.07. Roivant Sciences Ltd. has a 52-week low of $8.24 and a 52-week high of $13.24. The company has a debt-to-equity ratio of 0.05, a quick ratio of 27.91 and a current ratio of 27.91. The stock has a market capitalization of $8.69 billion, a PE ratio of 2.33 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.33. The business had revenue of $55.10 million for the quarter, compared to analysts’ expectations of $30.72 million. Roivant Sciences had a negative return on equity of 17.23% and a net margin of 2,991.75%. The firm’s quarterly revenue was up 155.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.38) EPS. On average, analysts anticipate that Roivant Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ROIV. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. Piper Sandler boosted their target price on shares of Roivant Sciences from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Roivant Sciences in a research note on Thursday, September 19th. Finally, Bank of America lifted their price target on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Roivant Sciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.39.

Institutional Trading of Roivant Sciences

A number of institutional investors have recently made changes to their positions in the stock. Rubric Capital Management LP boosted its holdings in Roivant Sciences by 81.0% in the fourth quarter. Rubric Capital Management LP now owns 19,000,000 shares of the company’s stock worth $213,370,000 after purchasing an additional 8,500,000 shares during the last quarter. Norges Bank bought a new position in shares of Roivant Sciences during the 4th quarter valued at $41,506,000. Troluce Capital Advisors LLC purchased a new position in shares of Roivant Sciences in the 2nd quarter worth $31,182,000. First Trust Advisors LP grew its holdings in shares of Roivant Sciences by 434.8% in the fourth quarter. First Trust Advisors LP now owns 2,739,438 shares of the company’s stock worth $30,764,000 after acquiring an additional 2,227,192 shares during the period. Finally, BlackBarn Capital Partners LP bought a new stake in shares of Roivant Sciences in the fourth quarter worth $17,406,000. Hedge funds and other institutional investors own 64.76% of the company’s stock.

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.