Roivant Sciences Ltd. (NASDAQ:ROIV) Major Shareholder Sells $6,207,856.20 in Stock

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) major shareholder Vivek Ramaswamy sold 547,430 shares of Roivant Sciences stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $11.34, for a total value of $6,207,856.20. Following the sale, the insider now directly owns 38,627,181 shares in the company, valued at $438,032,232.54. The trade was a 1.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through 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 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 value of $2,246,952.00.
• 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 value of $3,142,309.73.

Roivant Sciences Price Performance

Shares of Roivant Sciences stock traded up $0.03 during midday trading on Friday, hitting $11.23. 4,927,975 shares of the company were exchanged, compared to its average volume of 5,569,943. The firm has a 50 day simple moving average of $10.64 and a 200-day simple moving average of $11.02. Roivant Sciences Ltd. has a 52 week low of $8.73 and a 52 week high of $13.06. The firm has a market cap of $8.01 billion, a P/E ratio of -74.86 and a beta of 1.16.

Roivant Sciences (NASDAQ:ROIV - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.15). Roivant Sciences had a negative net margin of 119.54% and a negative return on equity of 14.05%. The business had revenue of $7.57 million during the quarter, compared to the consensus estimate of $62.17 million. During the same quarter in the previous year, the firm posted ($0.23) EPS. Equities research analysts expect that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Cantor Fitzgerald upgraded Roivant Sciences to a "strong-buy" rating in a research report on Tuesday, March 4th. HC Wainwright restated a "buy" rating and set a $18.00 target price on shares of Roivant Sciences in a research report on Wednesday, May 28th.

Hedge Funds Weigh In On Roivant Sciences

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Roivant Sciences in the 4th quarter valued at $52,443,000. Nuveen LLC acquired a new stake in shares of Roivant Sciences in the 1st quarter valued at $31,988,000. Invesco Ltd. increased its stake in shares of Roivant Sciences by 49.7% in the 4th quarter. Invesco Ltd. now owns 9,515,058 shares of the company's stock valued at $112,563,000 after buying an additional 3,159,603 shares during the period. Vanguard Group Inc. increased its stake in shares of Roivant Sciences by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 44,087,287 shares of the company's stock valued at $521,553,000 after buying an additional 2,404,232 shares during the period. Finally, TOMS Capital Investment Management LP increased its stake in shares of Roivant Sciences by 46.6% in the 4th quarter. TOMS Capital Investment Management LP now owns 5,885,000 shares of the company's stock valued at $69,620,000 after buying an additional 1,870,000 shares during the period. Institutional investors own 64.76% of the company's stock.

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.