Roivant Sciences Ltd. (NASDAQ:ROIV) CIO Sells $2,231,352.00 in Stock

Roivant Sciences Ltd. (NASDAQ:ROIV) CIO Mayukh Sukhatme sold 185,946 shares of the firm’s stock in a transaction dated 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 sale, the executive now directly owns 18,836,547 shares of the company’s stock, valued at $226,038,564. The trade was a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

Roivant Sciences Price Performance

Shares of NASDAQ ROIV opened at $11.80 on Friday. The stock’s 50-day moving average is $11.91 and its two-hundred day moving average is $11.53. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 2.09 and a beta of 1.25. Roivant Sciences Ltd. has a 1-year low of $9.69 and a 1-year high of $13.06.

Analysts Set New Price Targets

ROIV has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 19th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Wednesday, November 13th. Finally, Bank of America raised their target price on Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a report on Wednesday, September 11th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Roivant Sciences has a consensus rating of “Moderate Buy” and an average price target of $17.93.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Roivant Sciences by 4.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 822,582 shares of the company’s stock valued at $9,493,000 after purchasing an additional 34,453 shares in the last quarter. Retirement Systems of Alabama raised its stake in Roivant Sciences by 26.9% in the third quarter. Retirement Systems of Alabama now owns 530,022 shares of the company’s stock valued at $6,116,000 after buying an additional 112,286 shares in the last quarter. Tyro Capital Management LLC lifted its holdings in Roivant Sciences by 0.6% during the 3rd quarter. Tyro Capital Management LLC now owns 1,754,976 shares of the company’s stock worth $20,252,000 after buying an additional 10,649 shares during the last quarter. Te Ahumairangi Investment Management Ltd boosted its position in shares of Roivant Sciences by 19.9% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 201,612 shares of the company’s stock worth $2,313,000 after acquiring an additional 33,467 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Roivant Sciences during the 3rd quarter worth about $207,000. Hedge funds and other institutional investors own 64.76% of the company’s stock.

About Roivant Sciences

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.