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

Roivant Sciences Ltd. (NASDAQ:ROIV) CIO Mayukh Sukhatme sold 412,584 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $12.05, for a total transaction of $4,971,637.20. Following the completion of the sale, the executive now directly owns 18,836,547 shares in the company, valued at approximately $226,980,391.35. This represents a 2.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Roivant Sciences Price Performance

Shares of ROIV opened at $11.57 on Friday. Roivant Sciences Ltd. has a 1 year low of $9.69 and a 1 year high of $13.06. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 2.05 and a beta of 1.25. The business’s 50 day simple moving average is $11.91 and its 200-day simple moving average is $11.48.

Institutional Trading of Roivant Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Roivant Sciences during the second quarter worth $101,000. EFG Asset Management North America Corp. lifted its stake in Roivant Sciences by 11.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 331,072 shares of the company’s stock valued at $3,498,000 after buying an additional 34,248 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Roivant Sciences by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,686,538 shares of the company’s stock valued at $28,397,000 after purchasing an additional 58,541 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Roivant Sciences by 85.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 130,631 shares of the company’s stock worth $1,381,000 after buying an additional 60,221 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Roivant Sciences by 27.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,287 shares of the company’s stock valued at $838,000 after purchasing an additional 17,248 shares during the period. Institutional investors own 64.76% of the company’s stock.

Wall Street Analyst Weigh In

ROIV has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a research report on Wednesday, November 13th. Bank of America increased their price target on shares of Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.