Insider Selling: Roivant Sciences (NASDAQ:ROIV) Major Shareholder Sells 1,027,670 Shares of Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) major shareholder Vivek Ramaswamy sold 1,027,670 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $20.33, for a total transaction of $20,892,531.10. Following the sale, the insider directly owned 34,193,406 shares of the company’s stock, valued at approximately $695,151,943.98. This trade represents a 2.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares 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 stock was sold at an average price of $20.51, for a total value of $11,068,221.50.
• 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 value of $5,978,359.23.
• 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 value of $5,000,175.36.
• On Thursday, September 4th, Vivek Ramaswamy sold 194,933 shares of Roivant Sciences stock. The stock was sold at an average price of $12.92, for a total value 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 value of $14,937,500.00.

Roivant Sciences Price Performance

NASDAQ:ROIV traded up $0.27 during trading hours on Monday, hitting $20.56. The company’s stock had a trading volume of 6,297,557 shares, compared to its average volume of 6,533,722. Roivant Sciences Ltd. has a twelve month low of $8.73 and a twelve month high of $21.35. The stock has a fifty day simple moving average of $17.00 and a 200-day simple moving average of $13.36. The company has a market capitalization of $14.04 billion, a P/E ratio of -36.71 and a beta of 1.23.

Institutional Investors Weigh In On Roivant Sciences

A number of institutional investors have recently added to or reduced their stakes in ROIV. Bessemer Group Inc. raised its position in shares of Roivant Sciences by 41.5% during the third quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock worth $28,000 after purchasing an additional 543 shares during the period. Utah Retirement Systems grew its position in Roivant Sciences by 3.0% in the 3rd quarter. Utah Retirement Systems now owns 20,626 shares of the company’s stock valued at $312,000 after purchasing an additional 600 shares during the period. Xponance Inc. increased its stake in Roivant Sciences by 1.9% during the 3rd quarter. Xponance Inc. now owns 46,718 shares of the company’s stock valued at $707,000 after purchasing an additional 882 shares in the last quarter. CWM LLC increased its stake in Roivant Sciences by 44.6% during the 2nd quarter. CWM LLC now owns 2,984 shares of the company’s stock valued at $34,000 after purchasing an additional 920 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in Roivant Sciences by 1.2% during the third quarter. Oregon Public Employees Retirement Fund now owns 86,652 shares of the company’s stock worth $1,311,000 after buying an additional 1,019 shares during the last quarter. 64.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ROIV. Weiss Ratings raised shares of Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. Bank of America raised their target price on shares of Roivant Sciences from $12.00 to $16.50 and gave the company a “neutral” rating in a research report on Thursday, September 18th. Guggenheim reaffirmed a “buy” rating and set a $25.00 target price on shares of Roivant Sciences in a research note on Friday. JPMorgan Chase & Co. upped their price target on shares of Roivant Sciences from $16.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Finally, The Goldman Sachs Group raised their price objective on Roivant Sciences from $20.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.56.

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.