Insider Selling: Roivant Sciences (NASDAQ:ROIV) Major Shareholder Sells 1,975,858 Shares of Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) major shareholder Vivek Ramaswamy sold 1,975,858 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $21.96, for a total value of $43,389,841.68. Following the completion of the sale, the insider owned 36,350,621 shares of the company’s stock, valued at approximately $798,259,637.16. This represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more 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 Thursday, December 11th, Vivek Ramaswamy sold 774,142 shares of Roivant Sciences stock. The stock was sold at an average price of $21.64, for a total value of $16,752,432.88.
• On Monday, December 15th, Vivek Ramaswamy sold 353,745 shares of Roivant Sciences stock. The shares were 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 transaction of $5,978,359.23.

Roivant Sciences Stock Performance

Shares of NASDAQ ROIV traded down $0.20 during midday trading on Monday, reaching $21.90. 13,196,504 shares of the company’s stock were exchanged, compared to its average volume of 6,407,501. Roivant Sciences Ltd. has a 52-week low of $8.73 and a 52-week high of $22.56. The business’s fifty day moving average price is $19.49 and its two-hundred day moving average price is $14.81. The stock has a market capitalization of $15.23 billion, a PE ratio of -39.11 and a beta of 1.22.

Institutional Investors Weigh In On Roivant Sciences

Several large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position in shares of Roivant Sciences by 44.8% during the first quarter. PNC Financial Services Group Inc. now owns 10,248 shares of the company’s stock worth $103,000 after buying an additional 3,169 shares during the period. Charles Schwab Investment Management Inc. increased its position in Roivant Sciences by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,847,625 shares of the company’s stock valued at $28,733,000 after acquiring an additional 35,123 shares during the period. Citigroup Inc. raised its stake in Roivant Sciences by 12.8% during the 1st quarter. Citigroup Inc. now owns 720,387 shares of the company’s stock valued at $7,269,000 after acquiring an additional 81,482 shares in the last quarter. Nuveen LLC acquired a new position in Roivant Sciences during the 1st quarter worth $31,988,000. Finally, HighTower Advisors LLC grew its stake in shares of Roivant Sciences by 36.4% in the first quarter. HighTower Advisors LLC now owns 13,932 shares of the company’s stock worth $141,000 after purchasing an additional 3,719 shares in the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ROIV. Leerink Partners raised their price target on shares of Roivant Sciences from $29.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday. Guggenheim reiterated a “buy” rating and set a $25.00 price objective on shares of Roivant Sciences in a research note on Friday, November 14th. Citigroup raised their target price on shares of Roivant Sciences from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Bank of America lifted their target price on Roivant Sciences from $12.00 to $16.50 and gave the company a “neutral” rating in a research note on Thursday, September 18th. Finally, Wall Street Zen upgraded Roivant Sciences from a “strong sell” rating to a “hold” rating in a research report on Sunday, November 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $24.81.

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.