Myovant Sciences (NYSE:MYOV) shares traded down 7.9% during mid-day trading on Thursday . The company traded as low as $20.14 and last traded at $20.73. 675,356 shares changed hands during trading, an increase of 818% from the average session volume of 73,595 shares. The stock had previously closed at $22.52.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Myovant Sciences from a “sell” rating to a “hold” rating in a research note on Wednesday. Barclays downgraded Myovant Sciences from an “overweight” rating to an “equal weight” rating and set a $18.00 price objective for the company. in a research note on Thursday, April 5th. Finally, ValuEngine upgraded Myovant Sciences from a “sell” rating to a “hold” rating in a research note on Wednesday, April 4th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $21.00.
The company has a quick ratio of 5.04, a current ratio of 5.04 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1,264.31, a P/E ratio of -12.41 and a beta of -2.44.
In other Myovant Sciences news, major shareholder Pharmaceuticals Interna Takeda purchased 7,420,625 shares of the stock in a transaction that occurred on Monday, March 19th. The shares were bought at an average cost of $18.67 per share, with a total value of $138,543,068.75. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Holdings Ltd. Dexxon purchased 1,110,015 shares of the stock in a transaction that occurred on Monday, April 2nd. The stock was acquired at an average cost of $20.27 per share, for a total transaction of $22,500,004.05. The disclosure for this purchase can be found here. 3.00% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ardsley Advisory Partners purchased a new stake in shares of Myovant Sciences during the 4th quarter worth approximately $1,272,000. Point72 Asset Management L.P. purchased a new stake in shares of Myovant Sciences during the 3rd quarter worth approximately $1,255,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Myovant Sciences by 18.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 91,213 shares of the company’s stock worth $1,382,000 after acquiring an additional 14,203 shares in the last quarter. 81.44% of the stock is currently owned by institutional investors.
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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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