Mayukh Sukhatme Sells 185,946 Shares of Roivant Sciences Ltd. (NASDAQ:ROIV) Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CIO Mayukh Sukhatme sold 185,946 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $12.00, for a total value of $2,231,352.00. Following the transaction, the executive now directly owns 18,836,547 shares in the company, valued at approximately $226,038,564. This trade represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Mayukh Sukhatme also recently made the following trade(s):

• On Thursday, December 26th, Mayukh Sukhatme sold 689,495 shares of Roivant Sciences stock. The shares were sold at an average price of $12.01, for a total value of $8,280,834.95.
• On Wednesday, December 18th, Mayukh Sukhatme sold 412,584 shares of Roivant Sciences stock. The shares were sold at an average price of $12.05, for a total transaction of $4,971,637.20.

Roivant Sciences Price Performance

Roivant Sciences stock remained flat at $12.00 during mid-day trading on Thursday. The company had a trading volume of 3,300,963 shares, compared to its average volume of 5,778,284. The business has a 50 day simple moving average of $11.91 and a two-hundred day simple moving average of $11.51. Roivant Sciences Ltd. has a 1-year low of $9.69 and a 1-year high of $13.06. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 2.12 and a beta of 1.25.

Wall Street Analyst Weigh In

Several research firms have weighed in on ROIV. Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Roivant Sciences in a research report on Wednesday, November 13th. Finally, Bank of America boosted their price objective on Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.93.

Institutional Investors Weigh In On Roivant Sciences

A number of hedge funds have recently made changes to their positions in the business. TOMS Capital Investment Management LP purchased a new position in shares of Roivant Sciences in the third quarter valued at $46,333,000. Rubric Capital Management LP boosted its stake in Roivant Sciences by 15.0% in the 2nd quarter. Rubric Capital Management LP now owns 23,000,000 shares of the company’s stock worth $243,110,000 after purchasing an additional 3,000,000 shares during the period. Troluce Capital Advisors LLC purchased a new position in Roivant Sciences during the 2nd quarter valued at about $31,182,000. FMR LLC increased its position in shares of Roivant Sciences by 5.6% during the third quarter. FMR LLC now owns 49,145,056 shares of the company’s stock valued at $567,134,000 after buying an additional 2,593,910 shares during the period. Finally, 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. 64.76% of the stock is currently owned by institutional investors.

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.