Roivant Sciences (NASDAQ:ROIV) CEO Matthew Gline Sells 289,774 Shares of Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CEO Matthew Gline sold 289,774 shares of the company’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $29.16, for a total value of $8,449,809.84. Following the transaction, the chief executive officer directly owned 16,736,116 shares in the company, valued at $488,025,142.56. This represents a 1.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Roivant Sciences Stock Performance

Shares of ROIV opened at $29.08 on Tuesday. Roivant Sciences Ltd. has a fifty-two week low of $10.01 and a fifty-two week high of $30.33. The business has a 50-day moving average of $28.10 and a 200 day moving average of $23.33. The firm has a market cap of $20.81 billion, a P/E ratio of -24.85 and a beta of 1.20.

Analysts Set New Price Targets

ROIV has been the topic of several research reports. Citigroup boosted their price target on shares of Roivant Sciences from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. TD Cowen reaffirmed a “buy” rating on shares of Roivant Sciences in a report on Wednesday, March 4th. HC Wainwright lifted their price objective on shares of Roivant Sciences from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Guggenheim boosted their target price on shares of Roivant Sciences from $28.00 to $30.00 and gave the company a “buy” rating in a report on Monday, February 9th. Finally, Sanford C. Bernstein initiated coverage on Roivant Sciences in a research report on Friday, March 20th. They set an “outperform” rating and a $35.00 target price on the stock. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.55.

Hedge Funds Weigh In On Roivant Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROIV. Fifth Third Wealth Advisors LLC raised its holdings in shares of Roivant Sciences by 4.6% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 10,166 shares of the company’s stock valued at $282,000 after acquiring an additional 445 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Roivant Sciences by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 87,152 shares of the company’s stock worth $1,891,000 after purchasing an additional 500 shares in the last quarter. Bank of Montreal Can increased its position in shares of Roivant Sciences by 1.3% in the fourth quarter. Bank of Montreal Can now owns 40,012 shares of the company’s stock worth $868,000 after purchasing an additional 516 shares during the last quarter. Bessemer Group Inc. increased 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 worth $28,000 after purchasing an additional 543 shares during the last quarter. Finally, Allworth Financial LP raised its stake in 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 purchasing an additional 583 shares in the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

Roivant Sciences Company Profile

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.