Insider Selling: Roivant Sciences (NASDAQ:ROIV) Major Shareholder Sells 287,283 Shares of Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) major shareholder Vivek Ramaswamy sold 287,283 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $20.81, for a total value of $5,978,359.23. Following the sale, the insider directly owned 35,221,076 shares of the company’s stock, valued at $732,950,591.56. The trade was a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Vivek Ramaswamy also recently made the following trade(s):

• On Monday, November 17th, Vivek Ramaswamy sold 539,650 shares of Roivant Sciences stock. The shares were sold at an average price of $20.51, for a total value of $11,068,221.50.
• On Friday, November 14th, Vivek Ramaswamy sold 1,027,670 shares of Roivant Sciences stock. The stock was sold at an average price of $20.33, for a total value of $20,892,531.10.
• On Friday, September 5th, Vivek Ramaswamy sold 385,816 shares of Roivant Sciences stock. The shares were sold at an average price of $12.96, for a total transaction of $5,000,175.36.
• On Thursday, September 4th, Vivek Ramaswamy sold 194,933 shares of Roivant Sciences stock. The shares were sold at an average price of $12.92, for a total transaction of $2,518,534.36.
• On Wednesday, September 3rd, Vivek Ramaswamy sold 1,195,000 shares of Roivant Sciences stock. The stock was sold at an average price of $12.50, for a total transaction of $14,937,500.00.

Roivant Sciences Price Performance

Shares of ROIV stock traded up $0.27 during mid-day trading on Monday, hitting $20.56. The stock had a trading volume of 6,297,557 shares, compared to its average volume of 6,533,722. The firm has a market cap of $14.04 billion, a PE ratio of -36.71 and a beta of 1.23. The company’s 50-day simple moving average is $17.00 and its 200-day simple moving average is $13.36. Roivant Sciences Ltd. has a fifty-two week low of $8.73 and a fifty-two week high of $21.35.

Hedge Funds Weigh In On Roivant Sciences

Several hedge funds have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in Roivant Sciences during the third quarter worth $1,067,000. Alyeska Investment Group L.P. raised its stake in shares of Roivant Sciences by 326.7% during the 3rd quarter. Alyeska Investment Group L.P. now owns 494,455 shares of the company’s stock worth $7,481,000 after buying an additional 378,589 shares during the last quarter. Utah Retirement Systems raised its stake in shares of Roivant Sciences by 3.0% during the 3rd quarter. Utah Retirement Systems now owns 20,626 shares of the company’s stock worth $312,000 after buying an additional 600 shares during the last quarter. Voleon Capital Management LP purchased a new stake in shares of Roivant Sciences in the 3rd quarter worth about $1,461,000. Finally, Voloridge Investment Management LLC acquired a new stake in Roivant Sciences in the 3rd quarter valued at about $34,513,000. 64.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ROIV has been the topic of a number of analyst reports. Leerink Partners reaffirmed an “outperform” rating and issued a $29.00 price objective on shares of Roivant Sciences in a report on Tuesday, November 11th. Bank of America raised their price target on Roivant Sciences from $12.00 to $16.50 and gave the company a “neutral” rating in a report on Thursday, September 18th. The Goldman Sachs Group lifted their price target on Roivant Sciences from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, September 18th. Jefferies Financial Group increased their price objective on Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Finally, Citigroup boosted their target price on shares of Roivant Sciences from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.56.

About Roivant Sciences

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.