Insider Selling: Roivant Sciences Ltd. (NASDAQ:ROIV) CIO Sells 689,495 Shares of Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CIO Mayukh Sukhatme sold 689,495 shares of Roivant Sciences stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $12.01, for a total value of $8,280,834.95. Following the completion of the sale, the executive now directly owns 18,836,547 shares of the company’s stock, valued at approximately $226,226,929.47. The trade was a 3.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Mayukh Sukhatme also recently made the following trade(s):

• On Tuesday, December 24th, Mayukh Sukhatme sold 185,946 shares of Roivant Sciences stock. The shares were sold at an average price of $12.00, for a total value of $2,231,352.00.
• On Wednesday, December 18th, Mayukh Sukhatme sold 412,584 shares of Roivant Sciences stock. The stock was sold at an average price of $12.05, for a total value of $4,971,637.20.

Roivant Sciences Price Performance

Shares of NASDAQ ROIV remained flat at $12.00 during trading on Thursday. The stock had a trading volume of 3,300,963 shares, compared to its average volume of 5,778,284. Roivant Sciences Ltd. has a 1 year low of $9.69 and a 1 year high of $13.06. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 2.12 and a beta of 1.25. The company has a 50 day simple moving average of $11.91 and a 200 day simple moving average of $11.51.

Institutional Trading of Roivant Sciences

Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in Roivant Sciences by 5.6% in the 3rd quarter. FMR LLC now owns 49,145,056 shares of the company’s stock worth $567,134,000 after purchasing an additional 2,593,910 shares during the period. Rubric Capital Management LP increased its position in Roivant Sciences by 15.0% in the second quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company’s stock worth $243,110,000 after purchasing an additional 3,000,000 shares during the last quarter. State Street Corp lifted its position in Roivant Sciences by 6.1% during the third quarter. State Street Corp now owns 19,561,249 shares of the company’s stock valued at $225,737,000 after purchasing an additional 1,118,561 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Roivant Sciences by 23.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,745,104 shares of the company’s stock worth $89,400,000 after buying an additional 1,460,205 shares during the last quarter. Finally, DME Capital Management LP raised its position in shares of Roivant Sciences by 14.8% during the 2nd quarter. DME Capital Management LP now owns 4,810,960 shares of the company’s stock valued at $50,852,000 after buying an additional 620,470 shares in the last quarter. 64.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Bank of America increased their price objective on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.93.

Roivant Sciences Company Profile

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.