Vivek Ramaswamy Sells 565,266 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) major shareholder Vivek Ramaswamy sold 565,266 shares of the company’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $11.45, for a total transaction of $6,472,295.70. Following the completion of the transaction, the insider now directly owns 37,861,115 shares in the company, valued at $433,509,766.75. The trade was a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, June 20th, Vivek Ramaswamy sold 577,007 shares of Roivant Sciences stock. The shares were sold at an average price of $11.46, for a total transaction of $6,612,500.22.
• On Friday, June 6th, Vivek Ramaswamy sold 200,800 shares of Roivant Sciences stock. The stock was sold at an average price of $11.19, for a total transaction of $2,246,952.00.
• 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 value of $3,142,309.73.

Roivant Sciences Stock Performance

NASDAQ ROIV opened at $11.40 on Thursday. The firm has a market cap of $7.75 billion, a price-to-earnings ratio of -45.60 and a beta of 1.16. The firm has a 50 day simple moving average of $11.06 and a 200-day simple moving average of $10.93. Roivant Sciences Ltd. has a one year low of $8.73 and a one year high of $13.06.

Roivant Sciences (NASDAQ:ROIV) last issued its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.15). Roivant Sciences had a negative net margin of 225.71% and a negative return on equity of 14.76%. The business had revenue of $7.57 million during the quarter, compared to analysts’ expectations of $62.17 million. During the same period in the prior year, the business earned ($0.23) EPS. Equities analysts predict that Roivant Sciences Ltd. will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Roivant Sciences

Several large investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Roivant Sciences in the 4th quarter valued at about $52,443,000. Nuveen LLC acquired a new stake in Roivant Sciences in the first quarter valued at approximately $31,988,000. Invesco Ltd. lifted its stake in Roivant Sciences by 49.7% in the fourth quarter. Invesco Ltd. now owns 9,515,058 shares of the company’s stock worth $112,563,000 after acquiring an additional 3,159,603 shares during the last quarter. Vanguard Group Inc. grew its holdings in Roivant Sciences by 5.8% during the 4th quarter. Vanguard Group Inc. now owns 44,087,287 shares of the company’s stock worth $521,553,000 after acquiring an additional 2,404,232 shares in the last quarter. Finally, TOMS Capital Investment Management LP increased its position in shares of Roivant Sciences by 46.6% in the 4th quarter. TOMS Capital Investment Management LP now owns 5,885,000 shares of the company’s stock valued at $69,620,000 after purchasing an additional 1,870,000 shares during the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ROIV shares. Cantor Fitzgerald raised Roivant Sciences to a “strong-buy” rating in a research note on Tuesday, March 4th. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, June 18th.

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.