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 Roivant Sciences stock in a transaction on Friday, June 6th. The stock was sold at an average price of $11.19, for a total transaction of $2,246,952.00. Following the transaction, the insider now directly owns 38,426,381 shares in the company, valued at $429,991,203.39. This 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 accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares 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 stock was 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 stock was sold at an average price of $11.47, for a total transaction of $3,142,309.73.

Roivant Sciences Stock Performance

Shares of NASDAQ:ROIV opened at $11.23 on Friday. The company’s 50-day moving average is $10.64 and its 200 day moving average is $11.02. The company has a market capitalization of $8.01 billion, a P/E ratio of -74.86 and a beta of 1.16. Roivant Sciences Ltd. has a fifty-two week low of $8.73 and a fifty-two week high of $13.06.

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

Analyst Upgrades and Downgrades

ROIV has been the topic of a number of analyst reports. 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.

Hedge Funds Weigh In On Roivant Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in ROIV. Parallel Advisors LLC boosted its holdings in shares of Roivant Sciences by 80.5% in the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company’s stock worth $25,000 after buying an additional 1,108 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Roivant Sciences by 478.6% in the 4th quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company’s stock worth $28,000 after buying an additional 1,948 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Roivant Sciences in the 4th quarter worth about $39,000. UMB Bank n.a. boosted its holdings in shares of Roivant Sciences by 112.7% in the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company’s stock worth $42,000 after buying an additional 2,195 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Roivant Sciences by 59.3% in the 1st quarter. Fifth Third Bancorp now owns 5,118 shares of the company’s stock worth $52,000 after buying an additional 1,905 shares during the last quarter. 64.76% of the stock is owned by hedge funds and other institutional investors.

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.