Roivant Sciences Ltd. (NASDAQ:ROIV) CIO Sells $4,971,637.20 in Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CIO Mayukh Sukhatme sold 412,584 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $12.05, for a total value of $4,971,637.20. Following the completion of the transaction, the executive now directly owns 18,836,547 shares in the company, valued at approximately $226,980,391.35. The trade was a 2.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Roivant Sciences Stock Up 0.6 %

Shares of NASDAQ:ROIV opened at $11.57 on Monday. The company has a market cap of $8.42 billion, a PE ratio of 2.05 and a beta of 1.25. Roivant Sciences Ltd. has a fifty-two week low of $9.69 and a fifty-two week high of $13.06. The firm has a 50-day simple moving average of $11.91 and a 200 day simple moving average of $11.49.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ROIV. Bank of America upped their price target on shares of Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Roivant Sciences in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.93.

Hedge Funds Weigh In On Roivant Sciences

Several institutional investors have recently made changes to their positions in the stock. Clearbridge Investments LLC lifted its holdings in shares of Roivant Sciences by 51.3% in the 2nd quarter. Clearbridge Investments LLC now owns 1,860,536 shares of the company’s stock worth $19,666,000 after purchasing an additional 630,712 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Roivant Sciences by 40.1% during the second quarter. Point72 Asset Management L.P. now owns 647,126 shares of the company’s stock valued at $6,840,000 after acquiring an additional 185,226 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Roivant Sciences during the third quarter worth about $2,267,000. TOMS Capital Investment Management LP acquired a new stake in shares of Roivant Sciences in the 3rd quarter worth about $46,333,000. Finally, Loomis Sayles & Co. L P lifted its position in Roivant Sciences by 13.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 3,912,205 shares of the company’s stock valued at $45,147,000 after purchasing an additional 458,601 shares during the last quarter. 64.76% of the stock is owned by institutional investors.

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.