Insider Selling: Roivant Sciences (NASDAQ:ROIV) Director Sells 17,750 Shares of Company Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) Director Melissa Epperly sold 17,750 shares of Roivant Sciences stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $36.10, for a total value of $640,775.00. Following the completion of the sale, the director owned 14,954 shares of the company’s stock, valued at approximately $539,839.40. The trade was a 54.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Roivant Sciences Stock Performance

Roivant Sciences stock traded up $0.06 during trading hours on Monday, reaching $35.78. 6,200,484 shares of the company’s stock traded hands, compared to its average volume of 6,424,994. Roivant Sciences Ltd. has a fifty-two week low of $15.25 and a fifty-two week high of $42.50. The firm has a market capitalization of $25.84 billion, a price-to-earnings ratio of -67.51 and a beta of 1.10. The firm’s 50 day moving average is $36.58 and its 200-day moving average is $32.60.

Roivant Sciences (NASDAQ:ROIV) last issued its earnings results on Friday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.04. Roivant Sciences had a negative net margin of 3,534.96% and a negative return on equity of 22.94%. The company had revenue of $1.44 million for the quarter, compared to analyst estimates of $2.06 million. Analysts predict that Roivant Sciences Ltd. will post -2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ROIV. Stifel Nicolaus began coverage on shares of Roivant Sciences in a report on Wednesday, September 16th. They set a “buy” rating and a $51.00 target price for the company. HC Wainwright increased their price target on Roivant Sciences from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, September 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 24th. Guggenheim lifted their price objective on Roivant Sciences from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Finally, TD Cowen upped their price objective on Roivant Sciences from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $45.64.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC bought a new position in Roivant Sciences during the second quarter worth about $16,830,000. Allspring Global Investments Holdings LLC acquired a new position in Roivant Sciences in the first quarter valued at about $3,957,000. Bank of America Corp DE increased its holdings in shares of Roivant Sciences by 8.0% in the first quarter. Bank of America Corp DE now owns 3,163,821 shares of the company’s stock worth $87,638,000 after acquiring an additional 235,493 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Roivant Sciences by 24.4% in the second quarter. Arizona State Retirement System now owns 128,364 shares of the company’s stock worth $4,543,000 after acquiring an additional 25,199 shares in the last quarter. Finally, Nicholas Investment Partners LP raised its position in shares of Roivant Sciences by 13.9% during the fourth quarter. Nicholas Investment Partners LP now owns 279,856 shares of the company’s stock worth $6,073,000 after purchasing an additional 34,235 shares during the period. Institutional investors and hedge funds own 64.76% of the company’s stock.

Roivant Sciences Company Profile

Roivant Sciences Ltd. (NASDAQ:ROIV) is a biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with serious or underserved diseases. The company operates through a network of subsidiary companies, known as “Vants,” each dedicated to specific therapeutic areas, drug candidates or commercial opportunities.

Roivant’s research and development activities have included treatments for immune-mediated diseases, rare disorders, oncology and conditions affecting the nervous system.