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Kumar Rakhi, the Chief Accounting Officer of Roivant Sciences Ltd. (NASDAQ:ROIV), recently executed a significant transaction involving the company’s common shares. On February 13, Rakhi sold a total of 227,500 shares, generating approximately $2.37 million at a weighted average price of $10.43 per share. According to InvestingPro data, the stock currently trades at $10.68, with analysts setting price targets ranging from $12 to $18.
In addition to the sale, Rakhi also exercised stock options to acquire 187,500 common shares at a price of $3.85 per share, amounting to a transaction value of $721,875. Following these transactions, Rakhi’s total direct ownership stands at 163,264 shares. InvestingPro analysis shows the company maintains a strong balance sheet with more cash than debt, and a healthy current ratio of 37.9x. Get access to 10+ additional ProTips and comprehensive financial metrics with InvestingPro.
These moves are part of a broader strategy by Rakhi, reflecting both a substantial sale and an acquisition of shares through option exercises, which is not uncommon for executives managing their portfolios and compensation packages. The company’s management has been actively buying back shares, demonstrating confidence in the business despite current market conditions.
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