Insider Selling: Roivant Sciences (NASDAQ:ROIV) CEO Sells $8,449,809.84 in Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CEO Matthew Gline sold 289,774 shares of the firm’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $29.16, for a total transaction of $8,449,809.84. Following the sale, the chief executive officer owned 16,736,116 shares of the company’s stock, valued at $488,025,142.56. This trade represents a 1.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Roivant Sciences Stock Performance

NASDAQ ROIV opened at $29.15 on Thursday. Roivant Sciences Ltd. has a 52-week low of $10.57 and a 52-week high of $30.33. The company has a 50-day simple moving average of $28.19 and a 200 day simple moving average of $23.47. The company has a market capitalization of $20.86 billion, a PE ratio of -24.91 and a beta of 1.20.

Hedge Funds Weigh In On Roivant Sciences

A number of large investors have recently modified their holdings of ROIV. Jones Financial Companies Lllp boosted its position in shares of Roivant Sciences by 226.0% in the third quarter. Jones Financial Companies Lllp now owns 1,656 shares of the company’s stock valued at $25,000 after acquiring an additional 1,148 shares during the period. SBI Securities Co. Ltd. boosted its position in shares of Roivant Sciences by 1,740.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,233 shares of the company’s stock valued at $27,000 after acquiring an additional 1,166 shares during the period. Allworth Financial LP boosted its position in shares of Roivant Sciences by 48.1% in the third quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock valued at $27,000 after acquiring an additional 583 shares during the period. Bessemer Group Inc. boosted its position in shares of Roivant Sciences by 41.5% in the third quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock valued at $28,000 after acquiring an additional 543 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in shares of Roivant Sciences in the fourth quarter valued at approximately $47,000. 64.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ROIV. Jefferies Financial Group reiterated a “buy” rating on shares of Roivant Sciences in a research report on Tuesday, March 3rd. Piper Sandler increased their target price on shares of Roivant Sciences from $22.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Weiss Ratings lowered shares of Roivant Sciences from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, February 9th. HC Wainwright increased their target price on shares of Roivant Sciences from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Finally, Sanford C. Bernstein began coverage on shares of Roivant Sciences in a research report on Friday, March 20th. They set an “outperform” rating and a $35.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Roivant Sciences has an average rating of “Moderate Buy” and an average target price of $30.55.

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.