Roivant Sciences (NASDAQ:ROIV) Major Shareholder Vivek Ramaswamy Sells 353,745 Shares

Roivant Sciences Ltd. (NASDAQ:ROIV) major shareholder Vivek Ramaswamy sold 353,745 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $22.05, for a total transaction of $7,800,077.25. Following the completion of the sale, the insider owned 34,132,463 shares in the company, valued at approximately $752,620,809.15. This trade represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 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 Thursday, December 11th, Vivek Ramaswamy sold 774,142 shares of Roivant Sciences stock. The stock was sold at an average price of $21.64, for a total transaction of $16,752,432.88.
• On Friday, December 12th, Vivek Ramaswamy sold 1,975,858 shares of Roivant Sciences stock. The shares were sold at an average price of $21.96, for a total transaction of $43,389,841.68.
• 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 transaction 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 transaction of $20,892,531.10.
• On Thursday, November 13th, Vivek Ramaswamy sold 287,283 shares of Roivant Sciences stock. The shares were sold at an average price of $20.81, for a total transaction of $5,978,359.23.

Roivant Sciences Stock Down 0.9%

NASDAQ ROIV traded down $0.20 on Monday, reaching $21.90. The stock had a trading volume of 13,196,504 shares, compared to its average volume of 6,407,501. Roivant Sciences Ltd. has a 12-month low of $8.73 and a 12-month high of $22.56. The stock has a fifty day moving average price of $19.49 and a two-hundred day moving average price of $14.81. The firm has a market capitalization of $15.23 billion, a price-to-earnings ratio of -39.11 and a beta of 1.22.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in shares of Roivant Sciences by 48.1% in the 3rd quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock valued at $27,000 after purchasing an additional 583 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new position in Roivant Sciences in the third quarter valued at $217,000. Danske Bank A S acquired a new position in shares of Roivant Sciences during the 3rd quarter worth about $138,000. XTX Topco Ltd acquired a new position in shares of Roivant Sciences during the 3rd quarter worth about $1,067,000. Finally, Alyeska Investment Group L.P. increased its holdings in shares of Roivant Sciences by 326.7% in the 3rd quarter. Alyeska Investment Group L.P. now owns 494,455 shares of the company’s stock valued at $7,481,000 after acquiring an additional 378,589 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ROIV shares. Jefferies Financial Group increased their target price on Roivant Sciences from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Wall Street Zen raised shares of Roivant Sciences from a “strong sell” rating to a “hold” rating in a research report on Sunday, November 16th. Bank of America lifted their price objective on shares of Roivant Sciences from $12.00 to $16.50 and gave the company a “neutral” rating in a report on Thursday, September 18th. Guggenheim reiterated a “buy” rating and set a $25.00 target price on shares of Roivant Sciences in a report on Friday, November 14th. Finally, Weiss Ratings raised shares of Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.81.

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.