Roivant Sciences Ltd. (NASDAQ:ROIV) CIO Mayukh Sukhatme Sells 689,495 Shares of Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CIO Mayukh Sukhatme sold 689,495 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $12.01, for a total transaction of $8,280,834.95. Following the completion of the transaction, the executive now directly owns 18,836,547 shares in the company, valued at $226,226,929.47. This represents a 3.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, December 24th, Mayukh Sukhatme sold 185,946 shares of Roivant Sciences stock. The stock was sold at an average price of $12.00, for a total value of $2,231,352.00.
• On Wednesday, December 18th, Mayukh Sukhatme sold 412,584 shares of Roivant Sciences stock. The shares were sold at an average price of $12.05, for a total value of $4,971,637.20.

Roivant Sciences Price Performance

Shares of ROIV opened at $12.00 on Friday. Roivant Sciences Ltd. has a 12-month low of $9.69 and a 12-month high of $13.06. The stock has a market capitalization of $8.74 billion, a P/E ratio of 2.12 and a beta of 1.25. The firm’s 50 day moving average is $11.91 and its 200-day moving average is $11.51.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ROIV. JPMorgan Chase & Co. grew its holdings in shares of Roivant Sciences by 4.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 822,582 shares of the company’s stock worth $9,493,000 after acquiring an additional 34,453 shares during the last quarter. Retirement Systems of Alabama increased its stake in Roivant Sciences by 26.9% in the 3rd quarter. Retirement Systems of Alabama now owns 530,022 shares of the company’s stock worth $6,116,000 after purchasing an additional 112,286 shares in the last quarter. Tyro Capital Management LLC raised its holdings in Roivant Sciences by 0.6% during the 3rd quarter. Tyro Capital Management LLC now owns 1,754,976 shares of the company’s stock worth $20,252,000 after buying an additional 10,649 shares during the period. Te Ahumairangi Investment Management Ltd lifted its stake in Roivant Sciences by 19.9% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 201,612 shares of the company’s stock valued at $2,313,000 after buying an additional 33,467 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Roivant Sciences in the third quarter worth approximately $207,000. Institutional investors and hedge funds own 64.76% of the company’s stock.

Analyst Ratings Changes

ROIV has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Roivant Sciences in a research note on Wednesday, November 13th. Bank of America lifted their price objective on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Roivant Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $17.93.

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.