Roivant Sciences (NASDAQ:ROIV) trades down 4.8% after insider selling

Roivant Sciences Ltd. (NASDAQ: ROIV – Get a rating) was down 4.8% in Monday’s trading after an insider sold shares of the company. The stock traded as low as $3.57 and last traded at $3.57. Approximately 11,597 shares were traded during trading, down 98% from the average daily volume of 663,933 shares. The stock previously closed at $3.75. Specifically, CEO Matthew Gline sold 19,855 shares of Roivant Sciences in a trade on Thursday, June 23. The stock was sold at an average price of $4.34, for a total value of $86,170.70. Following completion of the transaction, the CEO now directly owns 1,244,802 shares of the company, valued at $5,402,440.68. The sale was disclosed in an SEC filing, which is available via the SEC website. In related news, CEO Matthew Gline sold 19,855 shares of the company in a trade that took place on Thursday, June 23. The shares were sold at an average price of $4.34, for a total transaction of $86,170.70. As a result of the sale, the CEO now owns 1,244,802 shares of the company, valued at approximately $5,402,440.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, COO Eric Venker sold 16,896 shares of the company in a trade on Monday, July 25. The shares were sold at an average price of $4.33, for a total transaction of $73,159.68. Following completion of the transaction, the COO now directly owns 1,099,694 shares of the company, valued at $4,761,675.02. Disclosure of this sale can be found here. Insiders sold a total of 115,120 shares of the company valued at $475,170 during the last quarter. Insiders of the company hold 13.00% of the shares of the company.

Analyst upgrades and downgrades

A number of analysts have recently released reports on ROIV shares. Goldman Sachs Group lowered its price target on Roivant Sciences from $15.00 to $12.00 and set a ‘buy’ rating for the company in a Tuesday, May 24 research report. SVB Leerink raised its price target on shares of Roivant Sciences from $6.00 to $7.00 and gave the stock an “outperform” rating in a Wednesday, June 29 report. Citigroup raised its price target on shares of Roivant Sciences from $9.00 to $10.00 and gave the stock a “buy” rating in a Tuesday, August 16 report. Finally, HC Wainwright reissued a “buy” rating and published a price target of $14.00 on shares of Roivant Sciences in a research note on Thursday, June 30. Eight analysts rated the stock with a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $11.86.

Performance of the Roivant Sciences share

The company has a debt ratio of 0.22, a quick ratio of 6.20 and a current ratio of 6.20. The company has a market capitalization of $2.50 billion, a PE ratio of -2.34 and a beta of 1.33. The company’s 50-day moving average is $4.22 and its 200-day moving average is $4.51.

Roivant Sciences (NASDAQ: ROIV – Get a rating) last released its quarterly earnings data on Tuesday, June 28. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.14). Roivant Sciences had a negative return on equity of 68.61% and a negative net margin of 2,110.83%. The company posted revenue of $9.22 million in the quarter, compared to $11.94 million expected by analysts. On average, equity research analysts expect Roivant Sciences Ltd. will show an EPS of -1.71 for the current fiscal year.

Hedge funds weigh on Roivant Sciences

A number of large investors have recently bought and sold shares of ROIV. Northern Trust Corp bought a new position in shares of Roivant Sciences in the fourth quarter for a value of approximately $1,697,000. Eventide Asset Management LLC purchased a new position in shares of Roivant Sciences in the fourth quarter worth approximately $6,703,000. Two Seas Capital LP bought a new position in shares of Roivant Sciences in the fourth quarter valued at around $3,135,000. SB Investment Advisers UK Ltd. bought a new position in shares of Roivant Sciences during the fourth quarter, valued at approximately $1,001,706,000. Finally, Suvretta Capital Management LLC purchased a new equity stake in Roivant Sciences during the fourth quarter at a value of approximately $6,870,000. 61.49% of the shares are held by hedge funds and other institutional investors.

Roivant Sciences company profile

(Get a rating)

Roivant Sciences Ltd., a biopharmaceutical and healthcare technology company that researches and develops drugs. The company is developing product candidates for the treatment of various therapeutics, including solid tumors, sickle cell disease, hypophosphatasia, oncological malignancies, psoriasis, atopic dermatitis, vitiligo, hyperhidrosis, acne, myasthenia gravis severe, autoimmune warm hemolytic anemia, thyroid eye disease, sarcoidosis, and Staphylococcus aureus bacteremia.

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