Roivant Sciences (NASDAQ:ROIV) Stock: Insider Richard Pulik Sells 175,000 Shares

Roivant Sciences Ltd. (NASDAQ:ROIV) CFO Richard Pulik sold 175,000 shares of the company’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $41.85, for a total transaction of $7,323,750.00. Following the completion of the transaction, the chief financial officer owned 222,046 shares in the company, valued at approximately $9,292,625.10. This trade represents a 44.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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 transaction of $5,150,000.00.

Roivant Sciences Trading Down 4.4%

ROIV stock traded down $1.86 during mid-day trading 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 1-year low of $19.96 and a 1-year high of $42.50. The business has a 50 day simple moving average of $37.20 and a 200-day simple moving average of $32.16.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ROIV. TD Cowen reiterated a “buy” rating on shares of Roivant Sciences in a research note on Wednesday, October 21st. Guggenheim boosted their price target on Roivant Sciences from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Bank of America reaffirmed a “neutral” rating on shares of Roivant Sciences in a report on Friday, July 31st. Citigroup increased their price objective on Roivant Sciences from $46.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Finally, Jefferies Financial Group increased their price objective on Roivant Sciences from $42.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ROIV. Assenagon Asset Management S.A. increased its holdings in shares of Roivant Sciences by 18.2% during the second quarter. Assenagon Asset Management S.A. now owns 8,362,952 shares of the company’s stock worth $295,965,000 after purchasing an additional 1,286,464 shares during the period. Perceptive Advisors LLC raised its position in shares of Roivant Sciences by 3.8% in the first quarter. Perceptive Advisors LLC now owns 8,285,461 shares of the company’s stock valued at $229,507,000 after buying an additional 300,000 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Roivant Sciences by 20.3% in the third quarter. Pictet Asset Management Holding SA now owns 4,173,123 shares of the company’s stock valued at $152,597,000 after buying an additional 704,783 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Roivant Sciences by 179.0% in the second quarter. Wellington Management Group LLP now owns 2,687,870 shares of the company’s stock valued at $95,124,000 after buying an additional 1,724,588 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Roivant Sciences by 8.0% in the first quarter. Bank of America Corp DE now owns 3,163,821 shares of the company’s stock valued at $87,638,000 after buying an additional 235,493 shares during the period. Institutional investors and hedge funds own 64.76% of the company’s stock.

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.