Insider Selling: Roivant Sciences (NASDAQ:ROIV) CEO Sells 1,740,000 Shares of Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CEO Matthew Gline sold 1,740,000 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $21.68, for a total transaction of $37,723,200.00. Following the sale, the chief executive officer owned 17,290,820 shares of the company’s stock, valued at approximately $374,864,977.60. This represents a 9.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Matthew Gline also recently made the following trade(s):

• On Thursday, September 18th, Matthew Gline acquired 3,315 shares of Roivant Sciences stock. The stock was acquired at an average price of $15.07 per share, for a total transaction of $49,957.05.

Roivant Sciences Trading Down 1.0%

Shares of Roivant Sciences stock traded down $0.24 during mid-day trading on Wednesday, hitting $22.70. 12,370,038 shares of the stock were exchanged, compared to its average volume of 7,275,131. The company has a 50-day simple moving average of $19.76 and a 200 day simple moving average of $14.95. Roivant Sciences Ltd. has a twelve month low of $8.73 and a twelve month high of $23.47. The stock has a market capitalization of $15.79 billion, a price-to-earnings ratio of -40.54 and a beta of 1.22.

Analyst Ratings Changes

ROIV has been the topic of a number of research analyst reports. Citigroup raised their target price on shares of Roivant Sciences from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Wall Street Zen upgraded shares of Roivant Sciences from a “strong sell” rating to a “hold” rating in a research report on Sunday, November 16th. Bank of America raised their price target on shares of Roivant Sciences from $12.00 to $16.50 and gave the company a “neutral” rating in a report on Thursday, September 18th. Weiss Ratings raised Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. Finally, HC Wainwright lifted their price objective on Roivant Sciences from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $24.81.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Rubric Capital Management LP grew its holdings in shares of Roivant Sciences by 14.7% during the 2nd quarter. Rubric Capital Management LP now owns 20,370,336 shares of the company’s stock valued at $229,574,000 after purchasing an additional 2,603,260 shares during the last quarter. State Street Corp lifted its stake in Roivant Sciences by 4.8% in the second quarter. State Street Corp now owns 19,773,480 shares of the company’s stock worth $222,847,000 after acquiring an additional 911,827 shares during the period. Two Seas Capital LP boosted its holdings in Roivant Sciences by 4.6% in the second quarter. Two Seas Capital LP now owns 10,598,040 shares of the company’s stock valued at $119,440,000 after acquiring an additional 461,733 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Roivant Sciences by 18.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,308,710 shares of the company’s stock valued at $140,839,000 after purchasing an additional 1,423,074 shares during the period. Finally, BlackBarn Capital Partners LP lifted its position in shares of Roivant Sciences by 15.2% in the 1st quarter. BlackBarn Capital Partners LP now owns 4,750,000 shares of the company’s stock worth $47,928,000 after purchasing an additional 625,000 shares during the period. Institutional investors and hedge funds own 64.76% of the company’s stock.

Roivant Sciences Company Profile

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.