Home Stock Earnings A company insider recently sold 1,703 shares of Myovant Sciences Ltd. [MYOV]. Should You Sale?

A company insider recently sold 1,703 shares of Myovant Sciences Ltd. [MYOV]. Should You Sale?

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A company insider recently sold 1,703 shares of Myovant Sciences Ltd. [MYOV]. Should You Sale?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Myovant Sciences Ltd. shares valued at $42,916 were sold by Merendino Lauren on Oct 18. At $25.20 per share, Merendino Lauren sold 1,703 shares. The insider’s holdings dropped to 171,546 shares worth approximately $4.58 million following the completion of this transaction.


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Also, Marek David C sold 11,156 shares, netting a total of over 281,131 in proceeds. Following the sale of shares at $25.20 each, the insider now holds 425,636 shares.

Before that, Lang Matthew had sold 1,933 shares from its account. In a trade valued at $48,712, the General Counsel & Corp. Secy. traded Myovant Sciences Ltd. shares for $25.20 each. Upon closing the transaction, the insider’s holdings decreased to 1,933 shares, worth approximately $9.57 million.

As published in a research note from Evercore ISI on October 26, 2022, Myovant Sciences Ltd. [MYOV] has been rated down from an Outperform to an In-line. Analysts at SVB Leerink upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in early August. As of September 09, 2021, SVB Leerink has initiated its “Mkt perform” rating for MYOV.

Analyzing MYOV Stock Performance

On Thursday, Myovant Sciences Ltd. [NYSE: MYOV] plunged -0.15% to $26.71. The stock’s lowest price that day was $26.71, but it reached a high of $26.75 in the same session. Over the course of the year, Myovant Sciences Ltd. shares have jumped approximately 71.55%. Shares of the company reached a 52-week high of $26.84 on 10/24/22 and a 52-week low of $7.67 on 05/09/22. A 50-day SMA is recorded $21.61, while a 200-day SMA reached $14.85. Nevertheless, trading volume fell to 1.76 million shares from 2.88 million shares the previous day.

Support And Resistance Levels for Myovant Sciences Ltd. (MYOV)

According to the 24-hour chart, there is a support level at 26.70, which, if violated, would cause prices to drop to 26.68. In the upper region, resistance lies at 26.74. The next price resistance is at 26.76. RSI (Relative Strength Index) is 70.64 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.81, which suggests the price will decrease in the coming days. Percent R is at 4.50%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Myovant Sciences Ltd. subject to short interest?

Stocks of Myovant Sciences Ltd. saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.27 million shares to 3.06 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.33 million shares. A decline of -41.5% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.47 of the overall float, the days-to-cover ratio (short ratio) decline to 4.47.

Which companies own the most shares of Myovant Sciences Ltd. (MYOV)?

According to Wellington Management Co. LLP filings, the company currently owns 6,416,368 shares, which is about 6.69% of the total MYOV shares outstanding. The investor’s shares have appreciated by 634,744 from its previous 13-F filing of 5781624.0 shares. With the completion of the buy transaction, Bellevue Asset Management AG’s stake is now worth $106,316,716. Janus Henderson Investors US LLC reduced a -2.22% interest valued at $97.74 million while SSgA Funds Management, Inc. sold a -1,103,581 stake. A total of -54,676 shares of Myovant Sciences Ltd. were sold by BlackRock Fund Advisors during the quarter, and 395,993 were bought by Citadel Advisors LLC. In its current portfolio, The Vanguard Group, Inc. holds 810,483 shares valued at $14.56 million.

In terms of Myovant Sciences Ltd. share price expectations, FactSet research, analysts set an average price target of $27.00 in the next 12 months, up nearly 0.93% from the previous closing price of $26.75. Analysts anticipate Myovant Sciences Ltd. stock to reach $27.00 by 2022, with the lowest price target being $27.00. On January 08, 2021, SVB Leerink assigned a price target of “a Mkt perform” to the stock and downgraded coverage with a $28.

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