Roivant Sciences Ltd. (NASDAQ:ROIV) Major Shareholder Sells $6,612,500.22 in Stock

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) major shareholder Vivek Ramaswamy sold 577,007 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $11.46, for a total value of $6,612,500.22. Following the sale, the insider now owns 37,284,108 shares in the company, valued at approximately $427,275,877.68. This represents a 1.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Vivek Ramaswamy also recently made the following trade(s):

• On Wednesday, June 18th, Vivek Ramaswamy sold 565,266 shares of Roivant Sciences stock. The shares were sold at an average price of $11.45, for a total value of $6,472,295.70.
• On Friday, June 6th, Vivek Ramaswamy sold 200,800 shares of Roivant Sciences stock. The shares were sold at an average price of $11.19, for a total transaction of $2,246,952.00.
• On Wednesday, June 4th, Vivek Ramaswamy sold 547,430 shares of Roivant Sciences stock. The stock was sold at an average price of $11.34, for a total value of $6,207,856.20.
• On Tuesday, May 6th, Vivek Ramaswamy sold 273,959 shares of Roivant Sciences stock. The shares were sold at an average price of $11.47, for a total transaction of $3,142,309.73.

Roivant Sciences Stock Performance

Shares of NASDAQ ROIV traded up $0.05 during midday trading on Monday, reaching $11.50. The stock had a trading volume of 5,420,479 shares, compared to its average volume of 5,626,102. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of -46.00 and a beta of 1.17. Roivant Sciences Ltd. has a 12-month low of $8.73 and a 12-month high of $13.06. The stock has a 50-day moving average of $11.00 and a 200-day moving average of $10.92.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.15). The company had revenue of $7.57 million during the quarter, compared to the consensus estimate of $62.17 million. Roivant Sciences had a negative net margin of 225.71% and a negative return on equity of 14.76%. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. As a group, analysts forecast that Roivant Sciences Ltd. will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Roivant Sciences

Several institutional investors have recently added to or reduced their stakes in ROIV. Inspire Investing LLC purchased a new stake in shares of Roivant Sciences during the 1st quarter valued at about $303,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Roivant Sciences by 1.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,445,807 shares of the company's stock valued at $24,678,000 after purchasing an additional 34,341 shares during the last quarter. Zimmer Partners LP raised its holdings in Roivant Sciences by 111.3% during the 1st quarter. Zimmer Partners LP now owns 534,500 shares of the company's stock valued at $5,393,000 after buying an additional 281,600 shares during the period. Clearline Capital LP purchased a new position in Roivant Sciences during the first quarter worth $1,211,000. Finally, Goldman Sachs Group Inc. increased its position in Roivant Sciences by 15.4% during the first quarter. Goldman Sachs Group Inc. now owns 2,433,386 shares of the company's stock valued at $24,553,000 after acquiring an additional 324,764 shares during the last quarter. Hedge funds and other institutional investors own 64.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ROIV shares. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Roivant Sciences in a research report on Wednesday, June 18th. Cantor Fitzgerald upgraded shares of Roivant Sciences to a "strong-buy" rating in a research report on Tuesday, March 4th.

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.