Roivant Sciences Ltd. (NASDAQ:ROIV) Director Sells $4,276,764.24 in Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) Director Keith S. Manchester sold 368,052 shares of Roivant Sciences stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $11.62, for a total transaction of $4,276,764.24. Following the sale, the director now owns 1,412,126 shares in the company, valued at approximately $16,408,904.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Roivant Sciences Stock Performance

Shares of ROIV opened at $11.48 on Friday. The stock has a market capitalization of $8.48 billion, a PE ratio of 2.27 and a beta of 1.25. The business’s fifty day moving average price is $11.50 and its 200 day moving average price is $11.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 27.91 and a quick ratio of 27.91. Roivant Sciences Ltd. has a 12-month low of $8.24 and a 12-month high of $13.24.

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Roivant Sciences

Several institutional investors have recently made changes to their positions in the stock. Texas Permanent School Fund Corp acquired a new position in Roivant Sciences during the 1st quarter valued at approximately $3,115,000. American International Group Inc. lifted its stake in Roivant Sciences by 7,589.5% in the first quarter. American International Group Inc. now owns 450,065 shares of the company’s stock valued at $4,744,000 after buying an additional 444,212 shares during the last quarter. Nordea Investment Management AB acquired a new position in shares of Roivant Sciences during the first quarter valued at $2,851,000. Magnetar Financial LLC bought a new position in shares of Roivant Sciences during the first quarter worth about $1,576,000. Finally, Mutual of America Capital Management LLC increased its holdings in shares of Roivant Sciences by 116.8% in the 1st quarter. Mutual of America Capital Management LLC now owns 325,937 shares of the company’s stock worth $3,435,000 after acquiring an additional 175,574 shares during the period. 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.