Eric Venker Sells 200,000 Shares of Roivant Sciences (NASDAQ:ROIV) Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CEO Eric Venker sold 200,000 shares of Roivant Sciences stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $28.24, for a total transaction of $5,648,000.00. Following the completion of the sale, the chief executive officer owned 1,647,546 shares in the company, valued at $46,526,699.04. The trade was a 10.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Eric Venker also recently made the following trade(s):

• On Friday, February 13th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The stock was sold at an average price of $26.49, for a total transaction of $5,298,000.00.
• On Monday, January 12th, Eric Venker sold 200,000 shares of Roivant Sciences stock. The stock was sold at an average price of $21.92, for a total transaction of $4,384,000.00.
• On Wednesday, December 24th, Eric Venker sold 75,000 shares of Roivant Sciences stock. The shares were sold at an average price of $22.53, for a total value of $1,689,750.00.
• On Tuesday, December 23rd, Eric Venker sold 200,000 shares of Roivant Sciences stock. The shares were sold at an average price of $22.45, for a total value of $4,490,000.00.

Roivant Sciences Stock Performance

ROIV remained flat at $27.80 on Thursday. The company had a trading volume of 4,008,171 shares, compared to its average volume of 5,681,042. The company has a 50 day moving average price of $25.80 and a two-hundred day moving average price of $21.08. Roivant Sciences Ltd. has a fifty-two week low of $8.73 and a fifty-two week high of $30.33.

Institutional Investors Weigh In On Roivant Sciences

Several hedge funds have recently added to or reduced their stakes in the business. Penn Davis Mcfarland Inc. grew its stake in Roivant Sciences by 10.1% in the 3rd quarter. Penn Davis Mcfarland Inc. now owns 1,862,088 shares of the company’s stock valued at $28,173,000 after buying an additional 170,456 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in Roivant Sciences during the second quarter worth approximately $1,145,000. TD Asset Management Inc boosted its holdings in shares of Roivant Sciences by 94.7% during the third quarter. TD Asset Management Inc now owns 316,200 shares of the company’s stock worth $4,784,000 after acquiring an additional 153,800 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Roivant Sciences by 25.4% during the third quarter. New York State Common Retirement Fund now owns 229,037 shares of the company’s stock worth $3,465,000 after acquiring an additional 46,344 shares during the period. Finally, Franklin Resources Inc. acquired a new position in shares of Roivant Sciences in the second quarter valued at approximately $997,000. Institutional investors and hedge funds own 64.76% of the company’s stock.

Analysts Set New Price Targets

ROIV has been the subject of several recent analyst reports. Leerink Partners increased their price objective on Roivant Sciences from $29.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, December 15th. The Goldman Sachs Group increased their price target on shares of Roivant Sciences from $24.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, December 15th. TD Cowen reissued a “buy” rating on shares of Roivant Sciences in a research report on Wednesday, March 4th. HC Wainwright upped their target price on shares of Roivant Sciences from $33.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Roivant Sciences in a research note on Tuesday, March 3rd. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Roivant Sciences currently has an average rating of “Moderate Buy” and an average price target of $28.81.

About Roivant Sciences

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women’s health.