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

Roivant Sciences Ltd. (NASDAQ:ROIV) CIO Mayukh Sukhatme sold 689,495 shares of the company’s stock in a transaction dated 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 transaction, the executive now owns 18,836,547 shares in the company, valued at $226,226,929.47. The trade was a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

ROIV remained flat at $12.00 on Thursday. The company’s stock had a trading volume of 3,300,963 shares, compared to its average volume of 5,778,284. The stock has a market cap of $8.74 billion, a PE ratio of 2.12 and a beta of 1.25. The company 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 52 week low of $9.69 and a 52 week high of $13.06.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

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