Millennium Management LLC Cuts Holdings in Myovant Sciences Ltd (MYOV)

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Millennium Management LLC decreased its holdings in shares of Myovant Sciences Ltd (NYSE:MYOV) by 88.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 45,274 shares of the company’s stock after selling 355,089 shares during the period. Millennium Management LLC’s holdings in Myovant Sciences were worth $743,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MYOV. Bank of New York Mellon Corp increased its position in Myovant Sciences by 3,012.4% during the 4th quarter. Bank of New York Mellon Corp now owns 369,320 shares of the company’s stock valued at $6,060,000 after purchasing an additional 357,454 shares during the period. RA Capital Management LLC increased its position in Myovant Sciences by 7.5% during the 4th quarter. RA Capital Management LLC now owns 3,711,549 shares of the company’s stock valued at $60,907,000 after purchasing an additional 259,690 shares during the period. BB Biotech AG increased its position in Myovant Sciences by 0.8% during the 4th quarter. BB Biotech AG now owns 3,597,882 shares of the company’s stock valued at $59,041,000 after purchasing an additional 30,000 shares during the period. First Manhattan Co. purchased a new position in Myovant Sciences during the 4th quarter valued at about $292,000. Finally, Lord Abbett & CO. LLC increased its position in Myovant Sciences by 0.9% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,913,548 shares of the company’s stock valued at $31,401,000 after purchasing an additional 16,668 shares during the period. 29.93% of the stock is currently owned by institutional investors and hedge funds.

Shares of Myovant Sciences stock opened at $17.65 on Friday. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 2.08. Myovant Sciences Ltd has a 52-week low of $14.32 and a 52-week high of $27.45. The company has a market capitalization of $1.20 billion, a PE ratio of -7.32 and a beta of 0.52.

Myovant Sciences (NYSE:MYOV) last issued its quarterly earnings data on Thursday, February 7th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.06). On average, equities research analysts expect that Myovant Sciences Ltd will post -4.04 earnings per share for the current fiscal year.

MYOV has been the topic of a number of research reports. Zacks Investment Research raised shares of Myovant Sciences from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Wednesday, April 3rd. Evercore ISI initiated coverage on shares of Myovant Sciences in a research report on Thursday, April 11th. They set an “outperform” rating on the stock. Barclays raised shares of Myovant Sciences from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $22.00 to $25.00 in a research report on Wednesday, February 13th. JMP Securities reissued a “buy” rating and set a $25.00 target price on shares of Myovant Sciences in a research report on Monday, February 11th. Finally, ValuEngine raised shares of Myovant Sciences from a “hold” rating to a “buy” rating in a research report on Monday, January 7th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Myovant Sciences currently has an average rating of “Buy” and an average price target of $29.67.

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Myovant Sciences 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.

Further Reading: What does EPS mean?

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Institutional Ownership by Quarter for Myovant Sciences (NYSE:MYOV)

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