Myovant Sciences Ltd. (NYSE:MYOV) Short Interest Update


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Myovant Sciences Ltd. (NYSE:MYOV) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 3,710,000 shares, a decline of 18.1% from the March 31st total of 4,530,000 shares. Approximately 11.7% of the company’s stock are sold short. Based on an average trading volume of 885,100 shares, the short-interest ratio is presently 4.2 days.

MYOV has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Myovant Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, April 21st. The Goldman Sachs Group cut shares of Myovant Sciences from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a research report on Wednesday, January 6th. JPMorgan Chase & Co. decreased their price objective on Myovant Sciences from $38.00 to $32.00 and set an “overweight” rating for the company in a report on Monday. Finally, SVB Leerink dropped their target price on Myovant Sciences from $28.00 to $26.00 and set a “market perform” rating on the stock in a report on Friday, February 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Myovant Sciences currently has a consensus rating of “Hold” and an average target price of $31.43.

Shares of NYSE MYOV traded down $0.63 during midday trading on Tuesday, reaching $20.01. The company’s stock had a trading volume of 840,638 shares, compared to its average volume of 917,388. The stock has a market capitalization of $1.82 billion, a P/E ratio of -7.12 and a beta of 2.99. The firm has a 50 day moving average price of $20.49 and a 200-day moving average price of $21.25. Myovant Sciences has a 12-month low of $11.32 and a 12-month high of $30.90.

Myovant Sciences (NYSE:MYOV) last posted its quarterly earnings data on Thursday, February 11th. The company reported ($0.82) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.89) by $0.07. The business had revenue of $1.38 million during the quarter, compared to analysts’ expectations of $1.08 million. On average, equities analysts anticipate that Myovant Sciences will post -2.87 EPS for the current fiscal year.

In other news, insider Frank Karbe sold 11,080 shares of the business’s stock in a transaction that occurred on Tuesday, April 6th. The stock was sold at an average price of $18.63, for a total transaction of $206,420.40. Following the completion of the sale, the insider now owns 152,390 shares in the company, valued at $2,839,025.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Matthew Lang sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $25.07, for a total value of $752,100.00. Following the transaction, the general counsel now directly owns 175,865 shares in the company, valued at $4,408,935.55. The disclosure for this sale can be found here. Insiders have sold a total of 58,942 shares of company stock worth $1,329,961 in the last quarter. 3.90% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Myovant Sciences in the fourth quarter worth about $30,000. CWM LLC purchased a new position in Myovant Sciences in the fourth quarter valued at approximately $33,000. JPMorgan Chase & Co. grew its holdings in Myovant Sciences by 17.1% during the fourth quarter. JPMorgan Chase & Co. now owns 3,156 shares of the company’s stock valued at $87,000 after purchasing an additional 461 shares during the period. Sowell Financial Services LLC grew its holdings in Myovant Sciences by 215.8% during the fourth quarter. Sowell Financial Services LLC now owns 3,913 shares of the company’s stock valued at $108,000 after purchasing an additional 2,674 shares during the period. Finally, Oppenheimer & Co. Inc. purchased a new stake in Myovant Sciences in the fourth quarter worth $206,000. Institutional investors own 33.77% of the company’s stock.

About Myovant Sciences

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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