Myovant Sciences (NYSE:MYOV) Shares Gap Down to $10.86

Myovant Sciences Ltd. (NYSE:MYOV – Get Rating) gapped down prior to trading on Tuesday . The stock had previously closed at $10.86, but opened at $10.31. Myovant Sciences shares last traded at $10.51, with a volume of 3,260 shares changing hands.

Several equities analysts recently issued reports on the company. Robert W. Baird cut their target price on Myovant Sciences from $30.00 to $20.00 in a research report on Wednesday, April 13th. StockNews.com started coverage on Myovant Sciences in a research report on Thursday, March 31st. They set a “hold” rating on the stock. SVB Leerink cut their price target on Myovant Sciences from $19.00 to $12.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 13th. Finally, Zacks Investment Research downgraded Myovant Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday, March 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $22.00.

The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -4.40 and a beta of 2.74. The stock has a 50-day moving average price of $13.03 and a 200 day moving average price of $15.97.

Myovant Sciences (NYSE:MYOV – Get Rating) last posted its earnings results on Wednesday, January 26th. The company reported ($0.68) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.09). The firm had revenue of $54.44 million during the quarter, compared to analysts’ expectations of $54.50 million. During the same quarter in the previous year, the business earned ($0.82) EPS. Sell-side analysts predict that Myovant Sciences Ltd. will post -2.18 EPS for the current year.

In related news, General Counsel Matthew Lang sold 2,436 shares of the firm’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $13.78, for a total value of $33,568.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ferreira Juan Camilo Arjona sold 1,922 shares of the firm’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $13.78, for a total transaction of $26,485.16. The disclosure for this sale can be found here. Insiders have sold a total of 24,240 shares of company stock worth $351,921 over the last 90 days. Insiders own 5.10% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Credit Suisse AG lifted its stake in Myovant Sciences by 2.3% in the 3rd quarter. Credit Suisse AG now owns 26,642 shares of the company’s stock worth $598,000 after purchasing an additional 587 shares in the last quarter. Torray LLC lifted its stake in Myovant Sciences by 0.8% in the 3rd quarter. Torray LLC now owns 74,305 shares of the company’s stock worth $1,667,000 after purchasing an additional 601 shares in the last quarter. Swiss National Bank lifted its stake in Myovant Sciences by 1.0% in the 3rd quarter. Swiss National Bank now owns 80,900 shares of the company’s stock worth $1,815,000 after purchasing an additional 800 shares in the last quarter. California State Teachers Retirement System lifted its stake in Myovant Sciences by 3.8% in the 4th quarter. California State Teachers Retirement System now owns 31,104 shares of the company’s stock worth $484,000 after purchasing an additional 1,133 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in Myovant Sciences in the 3rd quarter worth approximately $32,000. 33.78% of the stock is currently owned by hedge funds and other institutional investors.

Myovant Sciences Company Profile (NYSE:MYOV)

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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