Roivant Sciences Ltd. (NASDAQ:ROIV) CIO Mayukh Sukhatme Sells 689,495 Shares

Roivant Sciences Ltd. (NASDAQ:ROIV) CIO Mayukh Sukhatme sold 689,495 shares of Roivant Sciences stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $12.01, for a total transaction of $8,280,834.95. Following the sale, the executive now directly owns 18,836,547 shares of the company’s stock, valued at $226,226,929.47. This trade represents a 3.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, December 24th, Mayukh Sukhatme sold 185,946 shares of Roivant Sciences stock. The shares were sold at an average price of $12.00, for a total value of $2,231,352.00.
• 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 value of $4,971,637.20.

Roivant Sciences Price Performance

Roivant Sciences stock opened at $12.00 on Friday. 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 fifty day moving average price of $11.91 and a two-hundred day moving average price of $11.51. The firm has a market cap of $8.74 billion, a price-to-earnings ratio of 2.12 and a beta of 1.25.

Analyst Upgrades and Downgrades

ROIV has been the subject of several recent research reports. Bank of America boosted their price target on Roivant Sciences from $12.00 to $12.50 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Cantor Fitzgerald restated an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, September 19th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.93.

Hedge Funds Weigh In On Roivant Sciences

Large investors have recently made changes to their positions in the business. nVerses Capital LLC bought a new position in Roivant Sciences in the 2nd quarter worth approximately $34,000. Gladius Capital Management LP acquired a new stake in shares of Roivant Sciences in the third quarter worth $35,000. Point72 Hong Kong Ltd bought a new stake in Roivant Sciences in the 2nd quarter valued at $36,000. US Bancorp DE grew its position in Roivant Sciences by 146.5% in the 3rd quarter. US Bancorp DE now owns 3,278 shares of the company’s stock worth $38,000 after purchasing an additional 1,948 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Roivant Sciences during the 2nd quarter worth about $53,000. Institutional investors and hedge funds 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.