Insider Buying: Myovant Sciences Ltd (NYSE:MYOV) Major Shareholder Buys 405,100 Shares of Stock

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Myovant Sciences Ltd (NYSE:MYOV) major shareholder Chemical Co. Ltd. Sumitomo acquired 405,100 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were bought at an average cost of $7.49 per share, with a total value of $3,034,199.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Chemical Co. Ltd. Sumitomo also recently made the following trade(s):

  • On Wednesday, March 25th, Chemical Co. Ltd. Sumitomo acquired 108,100 shares of Myovant Sciences stock. The shares were bought at an average cost of $7.60 per share, with a total value of $821,560.00.
  • On Thursday, March 19th, Chemical Co. Ltd. Sumitomo acquired 387,800 shares of Myovant Sciences stock. The shares were bought at an average cost of $7.49 per share, with a total value of $2,904,622.00.
  • On Monday, March 16th, Chemical Co. Ltd. Sumitomo acquired 193,900 shares of Myovant Sciences stock. The shares were bought at an average cost of $7.25 per share, with a total value of $1,405,775.00.

MYOV opened at $8.11 on Friday. The company has a debt-to-equity ratio of 5.88, a current ratio of 2.08 and a quick ratio of 2.08. The business has a 50 day simple moving average of $10.11 and a 200-day simple moving average of $10.35. The stock has a market capitalization of $672.51 million, a P/E ratio of -2.19 and a beta of 2.17. Myovant Sciences Ltd has a 12 month low of $4.14 and a 12 month high of $26.02.

Myovant Sciences (NYSE:MYOV) last posted its quarterly earnings results on Monday, February 10th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.16). Research analysts anticipate that Myovant Sciences Ltd will post -3.43 EPS for the current year.

Several analysts have recently commented on MYOV shares. Cowen reissued a “buy” rating on shares of Myovant Sciences in a report on Monday, February 10th. Zacks Investment Research raised Myovant Sciences from a “sell” rating to a “hold” rating in a report on Thursday, January 30th. Citigroup started coverage on Myovant Sciences in a report on Sunday, February 2nd. They issued a “neutral” rating and a $15.00 price target for the company. Finally, ValuEngine raised Myovant Sciences from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $20.65.

Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its holdings in Myovant Sciences by 46.3% during the third quarter. Tower Research Capital LLC TRC now owns 9,741 shares of the company’s stock worth $51,000 after purchasing an additional 3,083 shares during the last quarter. Barclays PLC raised its holdings in Myovant Sciences by 24.6% during the third quarter. Barclays PLC now owns 11,317 shares of the company’s stock worth $59,000 after purchasing an additional 2,234 shares during the last quarter. Sowell Financial Services LLC acquired a new position in Myovant Sciences during the fourth quarter worth $72,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Myovant Sciences by 133.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,518 shares of the company’s stock worth $86,000 after purchasing an additional 3,154 shares during the last quarter. Finally, Sigma Planning Corp acquired a new position in Myovant Sciences during the fourth quarter worth $155,000. 36.87% of the stock is owned by hedge funds and other institutional investors.

Myovant Sciences Company Profile

Myovant Sciences Ltd., a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for women's health and endocrine diseases. The company's lead product is relugolix, an oral, once-daily, small molecule that acts as a gonadotropin-releasing hormone receptor antagonist for the treatment of heavy menstrual bleeding related with uterine fibroids, endometriosis-associated pain, and advanced prostate cancer.

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Insider Buying and Selling by Quarter for Myovant Sciences (NYSE:MYOV)

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