Insider Buying: Myovant Sciences Ltd (NYSE:MYOV) Insider Purchases 8,000 Shares of Stock

Myovant Sciences Ltd (NYSE:MYOV) insider Frank Karbe bought 8,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were acquired at an average price of $9.10 per share, with a total value of $72,800.00. Following the completion of the acquisition, the insider now directly owns 8,000 shares in the company, valued at approximately $72,800. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of NYSE MYOV traded up $0.11 during midday trading on Friday, reaching $9.10. 44,644 shares of the stock were exchanged, compared to its average volume of 540,168. The company has a market cap of $657.02 million, a PE ratio of -2.22 and a beta of 1.29. Myovant Sciences Ltd has a 52-week low of $8.52 and a 52-week high of $27.45. The company has a debt-to-equity ratio of 21.51, a current ratio of 2.32 and a quick ratio of 2.32.

Several equities analysts have weighed in on MYOV shares. Zacks Investment Research upgraded shares of Myovant Sciences from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Wednesday, April 3rd. Citigroup assumed coverage on shares of Myovant Sciences in a report on Thursday, May 30th. They set a “buy” rating and a $25.00 price target for the company. ValuEngine downgraded shares of Myovant Sciences from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. Finally, Evercore ISI assumed coverage on shares of Myovant Sciences in a report on Thursday, April 11th. They set an “outperform” rating for the company. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $26.83.

Several hedge funds and other institutional investors have recently modified their holdings of MYOV. Swiss National Bank grew its holdings in Myovant Sciences by 3.3% in the first quarter. Swiss National Bank now owns 31,200 shares of the company’s stock valued at $745,000 after purchasing an additional 1,000 shares during the period. BlackRock Inc. grew its holdings in Myovant Sciences by 5.2% in the fourth quarter. BlackRock Inc. now owns 27,912 shares of the company’s stock valued at $458,000 after purchasing an additional 1,386 shares during the period. Morgan Stanley grew its holdings in Myovant Sciences by 180.9% in the first quarter. Morgan Stanley now owns 3,590 shares of the company’s stock valued at $85,000 after purchasing an additional 2,312 shares during the period. Lord Abbett & CO. LLC lifted its position in Myovant Sciences by 0.9% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,913,548 shares of the company’s stock valued at $31,401,000 after buying an additional 16,668 shares in the last quarter. Finally, BB Biotech AG lifted its position in Myovant Sciences by 0.8% during the fourth quarter. BB Biotech AG now owns 3,597,882 shares of the company’s stock valued at $59,041,000 after buying an additional 30,000 shares in the last quarter. Institutional investors and hedge funds own 30.56% of the company’s stock.

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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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