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Eric Venker, President and Chief Operating Officer of Roivant Sciences Ltd. (NASDAQ:ROIV), has recently executed significant transactions involving the company’s common shares. According to a recent SEC filing, Venker sold a total of 750,000 shares over two separate transactions, amounting to approximately $8.19 million. The shares were sold at prices ranging from $10.82 to $11.06, close to the current trading price of $10.83. InvestingPro data shows management has been actively managing shareholder value through share buybacks.
In addition to these sales, Venker acquired shares through stock options. On March 20 and March 24, he exercised options to acquire a total of 1,002,311 shares at a price of $3.85 per share, bringing the total value of these acquisitions to about $3.86 million. These transactions were conducted under a Rule 10b5-1 trading plan adopted on June 25, 2024.
Following these transactions, Venker’s total direct ownership of Roivant Sciences shares stands at 1,127,290.
In other recent news, Roivant Sciences Ltd. has finalized a consulting agreement with its former Chief Accounting Officer, Rakhi Kumar. Following her departure, Kumar will provide advisory and transition services to Roivant Sciences Inc., a subsidiary, with compensation tied to the continued vesting of her equity awards. Concurrently, the company has appointed Jennifer Humes as the new Principal Accounting Officer. Humes, who has a background in global investment banking, will receive a comprehensive compensation package, including an annual base salary and equity incentives. Meanwhile, Immunovant (NASDAQ:IMVT), Inc., a clinical-stage immunology company, announced positive results from its Phase 3 study of the drug batoclimab for Myasthenia Gravis and initial results from a Phase 2b study for Chronic Inflammatory Demyelinating Polyneuropathy. Despite these promising outcomes, Immunovant plans to focus on advancing another drug, IMVT-1402, instead of seeking immediate regulatory approval for batoclimab. These developments reflect the companies’ ongoing strategic efforts and recent corporate transitions.
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