Roivant Sciences Ltd. (NASDAQ:ROIV) Major Shareholder Vivek Ramaswamy Sells 565,266 Shares

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) major shareholder Vivek Ramaswamy sold 565,266 shares of Roivant Sciences stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $11.45, for a total value of $6,472,295.70. Following the sale, the insider now directly owns 37,861,115 shares of the company's stock, valued at approximately $433,509,766.75. This trade represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% 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 Friday, June 20th, Vivek Ramaswamy sold 577,007 shares of Roivant Sciences stock. The stock was sold at an average price of $11.46, for a total value of $6,612,500.22.
• 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 value 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 transaction 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

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

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its stake in Roivant Sciences by 478.6% during the fourth quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company's stock worth $28,000 after buying an additional 1,948 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Roivant Sciences by 80.5% in the first quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock valued at $25,000 after acquiring an additional 1,108 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Roivant Sciences in the fourth quarter worth approximately $39,000. UMB Bank n.a. boosted its position in shares of Roivant Sciences by 112.7% during the 1st quarter. UMB Bank n.a. now owns 4,143 shares of the company's stock worth $42,000 after acquiring an additional 2,195 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in Roivant Sciences by 59.3% during the first quarter. Fifth Third Bancorp now owns 5,118 shares of the company's stock worth $52,000 after purchasing an additional 1,905 shares in the last quarter. 64.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ROIV has been the subject of a number of recent research reports. Cantor Fitzgerald raised shares of Roivant Sciences to a "strong-buy" rating in a research note on Tuesday, March 4th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price objective on shares of Roivant Sciences in a research report on Wednesday, June 18th.

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.