Roivant Sciences Ltd. (NASDAQ:ROIV) Major Shareholder Vivek Ramaswamy Sells 547,430 Shares

Roivant Sciences Ltd. (NASDAQ:ROIV - Get Free Report) major shareholder Vivek Ramaswamy sold 547,430 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $11.34, for a total value of $6,207,856.20. Following the transaction, the insider now owns 38,627,181 shares in the company, valued at approximately $438,032,232.54. This trade represents a 1.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 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 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 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 value of $3,142,309.73.

Roivant Sciences Stock Down 1.3%

ROIV stock traded down $0.15 during midday trading on Monday, reaching $11.08. The stock had a trading volume of 3,586,965 shares, compared to its average volume of 5,565,512. The business has a fifty day simple moving average of $10.66 and a two-hundred day simple moving average of $11.00. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of -73.86 and a beta of 1.16. Roivant Sciences Ltd. has a twelve month low of $8.73 and a twelve month high of $13.06.

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 analysts' consensus estimates of ($0.16) by ($0.15). Roivant Sciences had a negative return on equity of 14.05% and a negative net margin of 119.54%. The firm had revenue of $7.57 million during the quarter, compared to analyst estimates of $62.17 million. During the same quarter in the previous year, the business earned ($0.23) earnings per share. On average, equities analysts predict that Roivant Sciences Ltd. will post -0.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ROIV has been the subject of a number of research reports. HC Wainwright restated a "buy" rating and issued a $18.00 target price on shares of Roivant Sciences in a research note on Wednesday, May 28th. Cantor Fitzgerald upgraded Roivant Sciences to a "strong-buy" rating in a research report on Tuesday, March 4th.

Hedge Funds Weigh In On Roivant Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its holdings in Roivant Sciences by 80.5% during the first quarter. Parallel Advisors LLC now owns 2,485 shares of the company's stock worth $25,000 after buying an additional 1,108 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in Roivant Sciences by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 187,047 shares of the company's stock worth $2,213,000 after buying an additional 1,170 shares during the last quarter. WINTON GROUP Ltd increased its holdings in shares of Roivant Sciences by 1.5% in the fourth quarter. WINTON GROUP Ltd now owns 92,526 shares of the company's stock valued at $1,095,000 after purchasing an additional 1,332 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Roivant Sciences by 9.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,110 shares of the company's stock valued at $173,000 after purchasing an additional 1,434 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Roivant Sciences by 7.5% in the fourth quarter. Covestor Ltd now owns 20,634 shares of the company's stock valued at $245,000 after purchasing an additional 1,444 shares during the last quarter. 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.