Myovant Sciences Ltd. (NYSE:MYOV) Major Shareholder Chemical Co. Ltd. Sumitomo Purchases 83,178 Shares

Myovant Sciences Ltd. (NYSE:MYOV) major shareholder Chemical Co. Ltd. Sumitomo purchased 83,178 shares of the stock in a transaction dated Monday, September 13th. The stock was purchased at an average price of $23.38 per share, for a total transaction of $1,944,701.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

  • On Friday, September 10th, Chemical Co. Ltd. Sumitomo bought 30,000 shares of Myovant Sciences stock. The stock was bought at an average price of $25.11 per share, with a total value of $753,300.00.
  • On Tuesday, September 7th, Chemical Co. Ltd. Sumitomo bought 33,200 shares of Myovant Sciences stock. The stock was bought at an average price of $26.23 per share, with a total value of $870,836.00.
  • On Friday, September 3rd, Chemical Co. Ltd. Sumitomo bought 31,200 shares of Myovant Sciences stock. The stock was bought at an average price of $26.76 per share, with a total value of $834,912.00.
  • On Monday, August 30th, Chemical Co. Ltd. Sumitomo purchased 70,000 shares of Myovant Sciences stock. The shares were acquired at an average cost of $23.92 per share, with a total value of $1,674,400.00.
  • On Friday, August 27th, Chemical Co. Ltd. Sumitomo purchased 37,038 shares of Myovant Sciences stock. The shares were acquired at an average cost of $23.17 per share, with a total value of $858,170.46.
  • On Wednesday, August 25th, Chemical Co. Ltd. Sumitomo bought 28,709 shares of Myovant Sciences stock. The shares were purchased at an average cost of $22.44 per share, with a total value of $644,229.96.
  • On Monday, August 23rd, Chemical Co. Ltd. Sumitomo bought 55,447 shares of Myovant Sciences stock. The shares were purchased at an average cost of $22.30 per share, with a total value of $1,236,468.10.
  • On Friday, August 20th, Chemical Co. Ltd. Sumitomo purchased 46,478 shares of Myovant Sciences stock. The stock was bought at an average cost of $20.86 per share, with a total value of $969,531.08.
  • On Wednesday, August 18th, Chemical Co. Ltd. Sumitomo purchased 17,116 shares of Myovant Sciences stock. The stock was bought at an average cost of $21.45 per share, with a total value of $367,138.20.
  • On Monday, August 16th, Chemical Co. Ltd. Sumitomo purchased 48,167 shares of Myovant Sciences stock. The stock was bought at an average cost of $21.37 per share, with a total value of $1,029,328.79.

Shares of MYOV stock opened at $21.51 on Wednesday. The company’s 50-day moving average price is $21.86 and its 200-day moving average price is $21.68. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -6.87 and a beta of 2.87. Myovant Sciences Ltd. has a twelve month low of $13.42 and a twelve month high of $30.90.

Myovant Sciences (NYSE:MYOV) last announced its quarterly earnings results on Wednesday, July 28th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.46). The firm had revenue of $41.06 million for the quarter, compared to analysts’ expectations of $61.19 million. On average, analysts expect that Myovant Sciences Ltd. will post -2.24 EPS for the current fiscal year.

Several brokerages recently commented on MYOV. Zacks Investment Research lowered shares of Myovant Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, August 10th. JMP Securities reaffirmed a “buy” rating on shares of Myovant Sciences in a research note on Wednesday, August 25th. SVB Leerink initiated coverage on shares of Myovant Sciences in a research note on Thursday, September 9th. They set a “market perform” rating and a $24.00 target price on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Myovant Sciences in a research note on Friday, August 20th. They set a “neutral” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Myovant Sciences currently has a consensus rating of “Hold” and an average target price of $25.57.

Hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in shares of Myovant Sciences during the 1st quarter valued at about $28,000. Royal Bank of Canada raised its holdings in Myovant Sciences by 211.6% in the 1st quarter. Royal Bank of Canada now owns 1,480 shares of the company’s stock valued at $31,000 after buying an additional 1,005 shares during the period. Citigroup Inc. raised its holdings in Myovant Sciences by 56.8% in the 1st quarter. Citigroup Inc. now owns 1,620 shares of the company’s stock valued at $33,000 after buying an additional 587 shares during the period. Macquarie Group Ltd. raised its holdings in Myovant Sciences by 186.6% in the 2nd quarter. Macquarie Group Ltd. now owns 1,986 shares of the company’s stock valued at $45,000 after buying an additional 1,293 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in Myovant Sciences in the 2nd quarter valued at about $56,000. 33.78% of the stock is currently owned by hedge funds and other institutional investors.

About Myovant Sciences

Myovant Sciences, Inc is a clinical-stage biopharmaceutical company. The firm focuses on the development and commercialization of therapies for the treatment of women’s health and endocrine diseases. It offers ORGOVYXTM (relugolix), a oral gonadotropin-releasing hormone (GnRH) receptor antagonist for the treatment of adult patients with advanced prostate cancer.

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