Insider Selling: Roivant Sciences Ltd. (NASDAQ:ROIV) Major Shareholder Sells $6,612,500.22 in Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) major shareholder Vivek Ramaswamy sold 577,007 shares of the company’s stock in a transaction on Friday, June 20th. The stock was sold at an average price of $11.46, for a total value of $6,612,500.22. Following the completion of the sale, the insider now directly owns 37,284,108 shares in the company, valued at approximately $427,275,877.68. The trade was a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 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 18th, Vivek Ramaswamy sold 565,266 shares of Roivant Sciences stock. The stock was sold at an average price of $11.45, for a total transaction of $6,472,295.70.
• 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 value 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 value 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 Down 1.2%

Shares of NASDAQ:ROIV opened at $11.40 on Thursday. The stock has a market capitalization of $7.75 billion, a PE ratio of -45.60 and a beta of 1.16. The firm’s 50 day moving average price is $11.06 and its 200-day moving average price is $10.93. Roivant Sciences Ltd. has a twelve month low of $8.73 and a twelve month high of $13.06.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.15). The business had revenue of $7.57 million during the quarter, compared to the consensus estimate of $62.17 million. Roivant Sciences had a negative return on equity of 14.76% and a negative net margin of 225.71%. During the same quarter in the previous year, the business posted ($0.23) earnings per share. Analysts expect that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Roivant Sciences

Institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its holdings in Roivant Sciences by 478.6% during the fourth quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company’s stock valued at $28,000 after purchasing an additional 1,948 shares during the period. Parallel Advisors LLC lifted its position in shares of Roivant Sciences by 80.5% during the 1st quarter. Parallel Advisors LLC now owns 2,485 shares of the company’s stock valued at $25,000 after buying an additional 1,108 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Roivant Sciences during the 4th quarter valued at approximately $39,000. UMB Bank n.a. increased its holdings in 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 acquiring an additional 2,195 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Roivant Sciences by 59.3% during the 1st quarter. Fifth Third Bancorp now owns 5,118 shares of the company’s stock worth $52,000 after acquiring an additional 1,905 shares during the period. 64.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ROIV has been the subject of several recent analyst reports. Cantor Fitzgerald upgraded Roivant Sciences to a “strong-buy” rating in a research note on Tuesday, March 4th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a research report on Wednesday, June 18th.

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.