Insider Selling: Roivant Sciences Ltd. (NASDAQ:ROIV) Major Shareholder Sells 273,959 Shares of Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) major shareholder Vivek Ramaswamy sold 273,959 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $11.47, for a total transaction of $3,142,309.73. Following the completion of the sale, the insider now owns 39,799,611 shares in the company, valued at $456,501,538.17. This represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Roivant Sciences Stock Down 3.4%

Shares of ROIV stock opened at $10.65 on Monday. Roivant Sciences Ltd. has a 12-month low of $8.73 and a 12-month high of $13.06. The company has a market capitalization of $7.60 billion, a P/E ratio of -71.00 and a beta of 1.23. The firm has a 50-day moving average price of $10.49 and a 200 day moving average price of $11.11.

Roivant Sciences (NASDAQ:ROIV) last posted its quarterly earnings data on Monday, February 10th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. Roivant Sciences had a negative net margin of 119.54% and a negative return on equity of 14.05%. As a group, research analysts expect that Roivant Sciences Ltd. will post -0.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ROIV shares. Cantor Fitzgerald upgraded shares of Roivant Sciences to a “strong-buy” rating in a research report on Tuesday, March 4th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a report on Monday, April 21st.

Institutional Investors Weigh In On Roivant Sciences

Several institutional investors have recently modified their holdings of ROIV. Parallel Advisors LLC grew its position in shares of Roivant Sciences by 80.5% during the 1st 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 period. Russell Investments Group Ltd. grew its position in shares of Roivant Sciences by 478.6% during the 4th quarter. Russell Investments Group Ltd. now owns 2,355 shares of the company’s stock worth $28,000 after buying an additional 1,948 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Roivant Sciences during the 4th quarter worth approximately $39,000. GAMMA Investing LLC grew its holdings in Roivant Sciences by 57.0% during the fourth quarter. GAMMA Investing LLC now owns 3,548 shares of the company’s stock valued at $42,000 after purchasing an additional 1,288 shares during the period. Finally, UMB Bank n.a. grew its holdings in Roivant Sciences by 112.7% during the first quarter. UMB Bank n.a. now owns 4,143 shares of the company’s stock valued at $42,000 after purchasing an additional 2,195 shares during the period. Institutional investors and hedge funds 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.