Letko Brosseau & Associates Inc. Makes New $1.06 Million Investment in Myovant Sciences Ltd (NYSE:MYOV)

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Letko Brosseau & Associates Inc. purchased a new stake in Myovant Sciences Ltd (NYSE:MYOV) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 51,500 shares of the company’s stock, valued at approximately $1,062,000. Letko Brosseau & Associates Inc. owned approximately 0.06% of Myovant Sciences as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of MYOV. Dynamic Technology Lab Private Ltd acquired a new position in shares of Myovant Sciences during the first quarter valued at about $184,000. BlackRock Inc. raised its holdings in shares of Myovant Sciences by 13.1% in the first quarter. BlackRock Inc. now owns 57,628 shares of the company’s stock worth $436,000 after buying an additional 6,694 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Myovant Sciences by 73.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 329,250 shares of the company’s stock worth $2,486,000 after buying an additional 139,039 shares during the period. Morgan Stanley grew its holdings in shares of Myovant Sciences by 1,243.4% during the first quarter. Morgan Stanley now owns 500,851 shares of the company’s stock valued at $3,781,000 after buying an additional 463,570 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in shares of Myovant Sciences by 264.4% in the 1st quarter. Two Sigma Investments LP now owns 208,976 shares of the company’s stock valued at $1,578,000 after acquiring an additional 151,633 shares during the period. 33.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:MYOV traded down $0.15 during trading on Thursday, reaching $19.22. The stock had a trading volume of 8,577 shares, compared to its average volume of 807,585. Myovant Sciences Ltd has a 1-year low of $4.14 and a 1-year high of $22.07. The stock has a market cap of $1.69 billion, a PE ratio of -6.60 and a beta of 2.39. The business has a fifty day moving average price of $17.50 and a 200-day moving average price of $13.41.

Myovant Sciences (NYSE:MYOV) last announced its earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.31. Research analysts expect that Myovant Sciences Ltd will post -2.82 earnings per share for the current year.

A number of brokerages have recently weighed in on MYOV. ValuEngine lowered Myovant Sciences from a “buy” rating to a “hold” rating in a report on Thursday, July 2nd. Citigroup upped their price objective on Myovant Sciences from $9.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. boosted their target price on shares of Myovant Sciences from $19.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Evercore ISI increased their price target on shares of Myovant Sciences from $45.00 to $55.00 and gave the stock a “positive” rating in a report on Tuesday, June 23rd. Finally, Zacks Investment Research raised shares of Myovant Sciences from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $27.36.

In other Myovant Sciences news, insider Ferreira Juan Camilo Arjona sold 4,054 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $20.00, for a total value of $81,080.00. Following the completion of the sale, the insider now owns 156,061 shares in the company, valued at approximately $3,121,220. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.90% of the company’s stock.

Myovant Sciences Company 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.

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

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