Mayukh Sukhatme Sells 243,177 Shares of Roivant Sciences (NASDAQ:ROIV) Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) insider Mayukh Sukhatme sold 243,177 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $36.23, for a total value of $8,810,302.71. Following the sale, the insider directly owned 18,630,739 shares in the company, valued at $674,991,673.97. This represents a 1.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Mayukh Sukhatme also recently made the following trade(s):

• On Monday, August 17th, Mayukh Sukhatme sold 284,707 shares of Roivant Sciences stock. The stock was sold at an average price of $36.25, for a total value of $10,320,628.75.
• On Tuesday, August 18th, Mayukh Sukhatme sold 136,942 shares of Roivant Sciences stock. The shares were sold at an average price of $36.73, for a total value of $5,029,879.66.

Roivant Sciences Stock Performance

NASDAQ:ROIV opened at $37.40 on Thursday. The company has a market cap of $27.01 billion, a price-to-earnings ratio of -70.57 and a beta of 1.12. Roivant Sciences Ltd. has a fifty-two week low of $11.54 and a fifty-two week high of $37.97. The stock has a fifty day moving average price of $34.34 and a 200-day moving average price of $30.28.

Roivant Sciences (NASDAQ:ROIV) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%.The company had revenue of $1.44 million for the quarter, compared to analysts’ expectations of $2.06 million. Research analysts predict that Roivant Sciences Ltd. will post -1.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ROIV shares. TD Cowen reiterated a “buy” rating on shares of Roivant Sciences in a research report on Thursday, August 6th. HC Wainwright boosted their price objective on shares of Roivant Sciences from $34.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Guggenheim upped their target price on Roivant Sciences from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Piper Sandler reaffirmed an “overweight” rating on shares of Roivant Sciences in a report on Thursday, May 21st. Finally, Leerink Partners set a $42.00 price target on Roivant Sciences in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.14.

Institutional Investors Weigh In On Roivant Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in Roivant Sciences by 179.0% in the 2nd quarter. Wellington Management Group LLP now owns 2,687,870 shares of the company’s stock valued at $95,124,000 after purchasing an additional 1,724,588 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Roivant Sciences in the 2nd quarter worth about $4,936,000. Great Lakes Advisors LLC bought a new position in Roivant Sciences in the 2nd quarter valued at approximately $3,815,000. Handelsbanken Fonder AB raised its stake in shares of Roivant Sciences by 51.4% during the second quarter. Handelsbanken Fonder AB now owns 177,209 shares of the company’s stock valued at $6,271,000 after acquiring an additional 60,200 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Roivant Sciences by 18.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,362,952 shares of the company’s stock worth $295,965,000 after purchasing an additional 1,286,464 shares during the last quarter. 64.76% of the stock is owned by institutional investors.

Roivant Sciences Company Profile

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women’s health.