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

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) major shareholder Vivek Ramaswamy sold 565,266 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $11.45, for a total transaction of $6,472,295.70. Following the transaction, the insider now owns 37,861,115 shares in the company, 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 legal filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions 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 transaction of $6,612,500.22.
• On Friday, June 6th, Vivek Ramaswamy sold 200,800 shares of Roivant Sciences stock. The stock was 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 transaction of $6,207,856.20.
• On Tuesday, May 6th, Vivek Ramaswamy sold 273,959 shares of Roivant Sciences stock. The stock was sold at an average price of $11.47, for a total transaction of $3,142,309.73.

Roivant Sciences Stock Up 1.8%

NASDAQ:ROIV traded up $0.20 during midday trading on Thursday, reaching $11.60. The stock had a trading volume of 6,020,887 shares, compared to its average volume of 5,637,545. The firm has a fifty day simple moving average of $11.08 and a two-hundred day simple moving average of $10.93. Roivant Sciences Ltd. has a 12-month low of $8.73 and a 12-month high of $13.06. The stock has a market cap of $7.89 billion, a P/E ratio of -46.40 and a beta of 1.16.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. HC Wainwright restated a "buy" rating and set a $18.00 target price 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.

Institutional Investors Weigh In On Roivant Sciences

Several institutional investors have recently made changes to their positions in ROIV. Venturi Wealth Management LLC purchased a new stake in shares of Roivant Sciences during the 4th quarter worth $143,000. New York State Common Retirement Fund boosted its position in shares of Roivant Sciences by 15.2% during the 4th quarter. New York State Common Retirement Fund now owns 219,793 shares of the company's stock worth $2,600,000 after purchasing an additional 29,000 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Roivant Sciences by 17.4% during the 4th quarter. Bank of New York Mellon Corp now owns 3,439,540 shares of the company's stock worth $40,690,000 after buying an additional 510,398 shares during the last quarter. New York Life Investment Management LLC acquired a new position in shares of Roivant Sciences during the 4th quarter worth $454,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Roivant Sciences during the 4th quarter worth $260,000. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

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.