Insider Selling: Roivant Sciences (NASDAQ:ROIV) Major Shareholder Sells $16,752,432.88 in Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) major shareholder Vivek Ramaswamy sold 774,142 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $21.64, for a total transaction of $16,752,432.88. Following the completion of the transaction, the insider owned 34,749,305 shares in the company, valued at approximately $751,974,960.20. This trade represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% 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 Friday, December 12th, Vivek Ramaswamy sold 1,975,858 shares of Roivant Sciences stock. The stock was sold at an average price of $21.96, for a total transaction of $43,389,841.68.
• On Monday, December 15th, Vivek Ramaswamy sold 353,745 shares of Roivant Sciences stock. The stock was sold at an average price of $22.05, for a total transaction of $7,800,077.25.
• 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 transaction of $11,068,221.50.
• On Friday, November 14th, Vivek Ramaswamy sold 1,027,670 shares of Roivant Sciences stock. The stock was sold at an average price of $20.33, for a total transaction of $20,892,531.10.
• 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.

Roivant Sciences Price Performance

ROIV stock traded down $0.20 during mid-day trading on Monday, hitting $21.90. 13,196,504 shares of the stock were exchanged, compared to its average volume of 6,407,501. The stock has a market capitalization of $15.23 billion, a price-to-earnings ratio of -39.11 and a beta of 1.22. The business has a fifty day moving average price of $19.49 and a 200 day moving average price of $14.81. Roivant Sciences Ltd. has a 12 month low of $8.73 and a 12 month high of $22.56.

Hedge Funds Weigh In On Roivant Sciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp increased its holdings in Roivant Sciences by 226.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,656 shares of the company’s stock valued at $25,000 after purchasing an additional 1,148 shares during the period. Allworth Financial LP grew its position in shares of Roivant Sciences by 48.1% in the 3rd quarter. Allworth Financial LP now owns 1,795 shares of the company’s stock worth $27,000 after buying an additional 583 shares during the last quarter. Bessemer Group Inc. increased its stake 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 valued at $28,000 after buying an additional 543 shares during the period. CWM LLC increased its stake in shares of Roivant Sciences by 44.6% during the second quarter. CWM LLC now owns 2,984 shares of the company’s stock valued at $34,000 after buying an additional 920 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of Roivant Sciences by 94.8% during the first quarter. Russell Investments Group Ltd. now owns 4,588 shares of the company’s stock valued at $46,000 after acquiring an additional 2,233 shares in the last quarter. 64.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wall Street Zen upgraded shares of Roivant Sciences from a “strong sell” rating to a “hold” rating in a research report on Sunday, November 16th. Weiss Ratings raised shares of Roivant Sciences from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. Leerink Partners boosted their price target on shares of Roivant Sciences from $29.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. raised their price objective on Roivant Sciences from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Finally, Jefferies Financial Group boosted their target price on Roivant Sciences from $18.00 to $20.00 and gave the company a “buy” rating in a research note 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 given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $24.81.

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.