Mayukh Sukhatme Sells 412,584 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CIO Mayukh Sukhatme sold 412,584 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $12.05, for a total transaction of $4,971,637.20. Following the sale, the executive now directly owns 18,836,547 shares in the company, valued at approximately $226,980,391.35. The trade was a 2.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Roivant Sciences Stock Up 0.6 %

Shares of Roivant Sciences stock opened at $11.57 on Friday. The business has a 50-day moving average price of $11.91 and a 200 day moving average price of $11.48. Roivant Sciences Ltd. has a fifty-two week low of $9.69 and a fifty-two week high of $13.06. The firm has a market cap of $8.42 billion, a P/E ratio of 2.05 and a beta of 1.25.

Institutional Trading of Roivant Sciences

Several hedge funds have recently added to or reduced their stakes in ROIV. FMR LLC boosted its position in shares of Roivant Sciences by 5.6% in the third quarter. FMR LLC now owns 49,145,056 shares of the company’s stock worth $567,134,000 after buying an additional 2,593,910 shares during the period. Rubric Capital Management LP boosted its stake in shares of Roivant Sciences by 15.0% during the 2nd quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company’s stock worth $243,110,000 after acquiring an additional 3,000,000 shares in the last quarter. State Street Corp grew its position in shares of Roivant Sciences by 6.1% in the third quarter. State Street Corp now owns 19,561,249 shares of the company’s stock valued at $225,737,000 after purchasing an additional 1,118,561 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Roivant Sciences by 23.2% in the third quarter. Geode Capital Management LLC now owns 7,745,104 shares of the company’s stock valued at $89,400,000 after acquiring an additional 1,460,205 shares during the period. Finally, DME Capital Management LP raised its position in shares of Roivant Sciences by 14.8% during the second quarter. DME Capital Management LP now owns 4,810,960 shares of the company’s stock valued at $50,852,000 after buying an additional 620,470 shares during the last quarter. Institutional investors own 64.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ROIV shares. Bank of America lifted their price objective on Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Roivant Sciences in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Roivant Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $17.93.

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.