Roivant Sciences (NASDAQ:ROIV) CFO Sells $7,323,750.00 in Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CFO Richard Pulik sold 175,000 shares of Roivant Sciences stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $41.85, for a total value of $7,323,750.00. Following the completion of the transaction, the chief financial officer directly owned 222,046 shares of the company’s stock, valued at $9,292,625.10. This represents a 44.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Richard Pulik also recently made the following trade(s):

• On Tuesday, November 10th, Richard Pulik sold 125,000 shares of Roivant Sciences stock. The stock was sold at an average price of $41.20, for a total value of $5,150,000.00.

Roivant Sciences Stock Performance

Shares of ROIV traded down $1.86 during trading hours on Thursday, hitting $39.99. 8,744,046 shares of the company were exchanged, compared to its average volume of 8,291,942. Roivant Sciences Ltd. has a fifty-two week low of $19.96 and a fifty-two week high of $42.50. The firm’s fifty day moving average is $37.20 and its 200 day moving average is $32.16.

Institutional Investors Weigh In On Roivant Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROIV. Alpine Bank Wealth Management acquired a new stake in shares of Roivant Sciences in the 3rd quarter valued at $25,000. Compass Financial Management LLC bought a new position in shares of Roivant Sciences in the 3rd quarter valued at $37,000. Parallel Advisors LLC raised its holdings in shares of Roivant Sciences by 33.7% during the 1st quarter. Parallel Advisors LLC now owns 2,065 shares of the company’s stock worth $57,000 after buying an additional 520 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Roivant Sciences by 21.8% during the 1st quarter. Bessemer Group Inc. now owns 2,465 shares of the company’s stock worth $69,000 after buying an additional 441 shares in the last quarter. Finally, Root Financial Partners LLC acquired a new position in shares of Roivant Sciences during the 3rd quarter worth $120,000. 64.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 24th. HC Wainwright raised their target price on shares of Roivant Sciences from $47.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday. UBS Group set a $55.00 target price on shares of Roivant Sciences in a report on Wednesday, September 9th. Bank of America restated a “neutral” rating on shares of Roivant Sciences in a research report on Friday, July 31st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Roivant Sciences in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.64.

About Roivant Sciences

Roivant Sciences is a biopharmaceutical company that develops medicines through a network of subsidiary companies, which it calls “Vants.” These businesses focus on advancing drug candidates in areas such as immunology, oncology, neuroscience and rare diseases. Founded in 2014, Roivant has built and supported subsidiaries to develop treatments, manage clinical programs and pursue partnerships. Its portfolio has included both internally developed candidates and medicines licensed from other companies.