Matthew Gline Sells 1,740,000 Shares of Roivant Sciences (NASDAQ:ROIV) Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CEO Matthew Gline sold 1,740,000 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $21.68, for a total value of $37,723,200.00. Following the completion of the transaction, the chief executive officer owned 17,290,820 shares in the company, valued at $374,864,977.60. This represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Matthew Gline also recently made the following trade(s):

• On Thursday, September 18th, Matthew Gline acquired 3,315 shares of Roivant Sciences stock. The stock was bought at an average price of $15.07 per share, with a total value of $49,957.05.

Roivant Sciences Trading Down 4.0%

NASDAQ:ROIV opened at $21.79 on Friday. Roivant Sciences Ltd. has a 1-year low of $8.73 and a 1-year high of $23.47. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of -38.91 and a beta of 1.22. The business’s 50-day moving average price is $19.88 and its two-hundred day moving average price is $14.99.

Hedge Funds Weigh In On Roivant Sciences

A number of large investors have recently added to or reduced their stakes in ROIV. Perceptive Advisors LLC bought a new position in shares of Roivant Sciences during the 2nd quarter worth approximately $37,546,000. Marshall Wace LLP boosted its holdings in Roivant Sciences by 316.5% during the third quarter. Marshall Wace LLP now owns 3,978,001 shares of the company’s stock worth $60,187,000 after purchasing an additional 3,022,851 shares during the last quarter. Orbimed Advisors LLC bought a new position in Roivant Sciences in the second quarter valued at $31,324,000. Rubric Capital Management LP increased its stake in Roivant Sciences by 14.7% in the 2nd quarter. Rubric Capital Management LP now owns 20,370,336 shares of the company’s stock valued at $229,574,000 after buying an additional 2,603,260 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in Roivant Sciences during the 3rd quarter worth about $34,513,000. Institutional investors own 64.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Roivant Sciences from a “strong sell” rating to a “hold” rating in a report on Sunday, November 16th. Leerink Partners boosted their price target on shares of Roivant Sciences from $29.00 to $32.00 and gave the company an “outperform” rating in a report on Monday. Citigroup raised their price objective on Roivant Sciences from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Jefferies Financial Group lifted their target price on Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Finally, The Goldman Sachs Group increased their price target on Roivant Sciences from $24.00 to $33.00 and gave the stock a “buy” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.19.

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.