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 the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $11.62, for a total value of $4,276,764.24. Following the completion of the sale, the director now directly owns 1,412,126 shares in the company, valued at approximately $16,408,904.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Roivant Sciences Stock Performance

NASDAQ:ROIV opened at $11.48 on Friday. The company has a market cap of $8.48 billion, a P/E ratio of 2.27 and a beta of 1.25. The firm’s 50 day moving average is $11.50 and its two-hundred day moving average is $11.08. Roivant Sciences Ltd. has a fifty-two week low of $8.24 and a fifty-two week high of $13.24. The company has a quick ratio of 27.91, a current ratio of 27.91 and a debt-to-equity ratio of 0.05.

Roivant Sciences (NASDAQ:ROIV) last issued its earnings results on Thursday, August 8th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.33. The firm 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 revenue for the quarter was up 155.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.38) earnings per share. Analysts expect that Roivant Sciences Ltd. will post -1.14 EPS for the current year.

Institutional Trading of Roivant Sciences

A number of institutional investors have recently modified their holdings of the company. nVerses Capital LLC purchased a new position in Roivant Sciences in the second quarter valued at approximately $34,000. Point72 Hong Kong Ltd acquired a new stake in shares of Roivant Sciences in the second quarter worth $36,000. Quarry LP purchased a new position in shares of Roivant Sciences in the 2nd quarter valued at $53,000. Acadian Asset Management LLC acquired a new position in shares of Roivant Sciences during the 1st quarter valued at $72,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in Roivant Sciences in the 2nd quarter valued at $101,000. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ROIV. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a research note on Thursday, September 19th. Bank of America raised their price target on shares of Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. Piper Sandler boosted their price objective on shares of Roivant Sciences from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.39.

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.