Mayukh Sukhatme Sells 412,584 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CIO Mayukh Sukhatme sold 412,584 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $12.05, for a total transaction of $4,971,637.20. Following the completion of the transaction, the executive now owns 18,836,547 shares in the company, valued at $226,980,391.35. This represents a 2.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Roivant Sciences Stock Performance

Roivant Sciences stock traded up $0.07 during mid-day trading on Friday, reaching $11.57. 15,754,118 shares of the company were exchanged, compared to its average volume of 5,795,466. Roivant Sciences Ltd. has a 12-month low of $9.69 and a 12-month high of $13.06. The business has a fifty day moving average of $11.91 and a 200 day moving average of $11.48. The firm has a market cap of $8.42 billion, a P/E ratio of 2.05 and a beta of 1.25.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ROIV. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Roivant Sciences in a report on Wednesday, November 13th. Bank of America lifted their target price on Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.93.

Institutional Investors Weigh In On Roivant Sciences

Institutional investors have recently added to or reduced their stakes in the stock. TOMS Capital Investment Management LP acquired a new stake in Roivant Sciences in the third quarter valued at approximately $46,333,000. Rubric Capital Management LP boosted its position in shares of Roivant Sciences by 15.0% in the 2nd 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 in the last quarter. Troluce Capital Advisors LLC purchased a new position in Roivant Sciences during the 2nd quarter worth $31,182,000. FMR LLC increased its position in Roivant Sciences by 5.6% during the 3rd quarter. FMR LLC now owns 49,145,056 shares of the company’s stock valued at $567,134,000 after buying an additional 2,593,910 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Roivant Sciences by 23.2% in the third quarter. Geode Capital Management LLC now owns 7,745,104 shares of the company’s stock valued at $89,400,000 after buying an additional 1,460,205 shares during the last quarter. Institutional investors own 64.76% of the company’s stock.

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.