Keith S. Manchester Sells 368,052 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) Director Keith S. Manchester sold 368,052 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $11.62, for a total value of $4,276,764.24. Following the completion of the transaction, the director now owns 1,412,126 shares in the company, valued at $16,408,904.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Roivant Sciences Trading Down 0.8 %

Shares of NASDAQ ROIV opened at $11.48 on Friday. Roivant Sciences Ltd. has a twelve month low of $8.24 and a twelve month high of $13.24. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of 2.27 and a beta of 1.25. The company has a quick ratio of 27.91, a current ratio of 27.91 and a debt-to-equity ratio of 0.05. The company’s fifty day moving average is $11.50 and its 200-day moving average is $11.08.

Roivant Sciences (NASDAQ:ROIV) last posted its earnings results on Thursday, August 8th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.33. Roivant Sciences had a negative return on equity of 17.23% and a net margin of 2,991.75%. The firm had revenue of $55.10 million for the quarter, compared to analyst estimates of $30.72 million. During the same period in the previous year, the company posted ($0.38) earnings per share. The company’s revenue for the quarter was up 155.1% on a year-over-year basis. Equities research analysts predict that Roivant Sciences Ltd. will post -1.14 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on ROIV. Bank of America raised their price target on Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Thursday, September 19th. Finally, Piper Sandler lifted their target price on shares of Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.39.

Hedge Funds Weigh In On Roivant Sciences

Several institutional investors and hedge funds have recently modified their holdings of ROIV. nVerses Capital LLC acquired a new stake in Roivant Sciences during the 2nd quarter worth approximately $34,000. Point72 Hong Kong Ltd bought a new stake in shares of Roivant Sciences during the second quarter worth $36,000. Quarry LP acquired a new stake in shares of Roivant Sciences during the second quarter worth $53,000. Acadian Asset Management LLC acquired a new position in Roivant Sciences in the 1st quarter worth $72,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in Roivant Sciences in the 2nd quarter worth $101,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

About Roivant Sciences

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.