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 business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $12.01, for a total value of $8,280,834.95. Following the transaction, the executive now owns 18,836,547 shares of the company’s stock, valued at approximately $226,226,929.47. This represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 stock was 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 Stock Performance

NASDAQ ROIV opened at $11.80 on Friday. The stock has a market capitalization of $8.59 billion, a P/E 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. The business’s fifty day moving average is $11.91 and its two-hundred day moving average is $11.52.

Analyst Ratings Changes

Several brokerages recently commented on ROIV. Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. Bank of America boosted their target price on Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Finally, HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Roivant Sciences in a report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.93.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ROIV. Bank of New York Mellon Corp increased its holdings in shares of Roivant Sciences by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 2,686,538 shares of the company’s stock valued at $28,397,000 after buying an additional 58,541 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Roivant Sciences by 85.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 130,631 shares of the company’s stock valued at $1,381,000 after purchasing an additional 60,221 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Roivant Sciences in the second quarter valued at $218,000. Finally, nVerses Capital LLC purchased a new stake in shares of Roivant Sciences in the second quarter valued at $34,000. 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.