Roivant Sciences Ltd. (NASDAQ:ROIV) Major Shareholder Vivek Ramaswamy Sells 200,800 Shares

Roivant Sciences Ltd. (NASDAQ:ROIV) major shareholder Vivek Ramaswamy sold 200,800 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $11.19, for a total transaction of $2,246,952.00. Following the sale, the insider now directly owns 38,426,381 shares in the company, valued at approximately $429,991,203.39. This trade represents a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Wednesday, June 4th, Vivek Ramaswamy sold 547,430 shares of Roivant Sciences stock. The shares were sold at an average price of $11.34, for a total transaction of $6,207,856.20.
• On Tuesday, May 6th, Vivek Ramaswamy sold 273,959 shares of Roivant Sciences stock. The shares were sold at an average price of $11.47, for a total transaction of $3,142,309.73.

Roivant Sciences Trading Up 0.3%

Shares of Roivant Sciences stock opened at $11.23 on Friday. Roivant Sciences Ltd. has a 12-month low of $8.73 and a 12-month high of $13.06. The company has a market cap of $8.01 billion, a price-to-earnings ratio of -74.86 and a beta of 1.16. The company’s 50-day moving average price is $10.64 and its 200-day moving average price is $11.02.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.15). Roivant Sciences had a negative return on equity of 14.05% and a negative net margin of 119.54%. The firm had revenue of $7.57 million during the quarter, compared to analysts’ expectations of $62.17 million. During the same period in the previous year, the company posted ($0.23) earnings per share. On average, sell-side analysts predict that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a report on Wednesday, May 28th. Cantor Fitzgerald raised shares of Roivant Sciences to a “strong-buy” rating in a report on Tuesday, March 4th.

Institutional Investors Weigh In On Roivant Sciences

A number of institutional investors and hedge funds have recently modified their holdings of ROIV. Barclays PLC raised its stake in Roivant Sciences by 19.7% in the third quarter. Barclays PLC now owns 459,521 shares of the company’s stock valued at $5,302,000 after purchasing an additional 75,609 shares in the last quarter. Blue Trust Inc. raised its stake in Roivant Sciences by 550.1% in the fourth quarter. Blue Trust Inc. now owns 7,879 shares of the company’s stock valued at $91,000 after purchasing an additional 6,667 shares in the last quarter. KBC Group NV raised its stake in Roivant Sciences by 58.2% in the fourth quarter. KBC Group NV now owns 15,874 shares of the company’s stock valued at $188,000 after purchasing an additional 5,839 shares in the last quarter. Elevate Capital Advisors LLC purchased a new stake in Roivant Sciences in the fourth quarter valued at approximately $2,116,000. Finally, New York State Teachers Retirement System raised its stake in Roivant Sciences by 2.0% in the fourth quarter. New York State Teachers Retirement System now owns 254,220 shares of the company’s stock valued at $3,007,000 after purchasing an additional 4,959 shares in the last quarter. 64.76% of the stock is owned by hedge funds and other institutional investors.

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.