In Q2 Myovant (NYSE: MYOV) performed outstandingly by increasing revenue to $116.49 million, almost doubling its $57.57 million Q1 2022 revenue. The company could also decrease costs by reducing the Q2 loss to -$21.24 million.
Bigger biotech corporations have already spotted Myovant with an intention to buy up partially or fully for it will soon cease being a cash-burning firm.
We tested MYOV using three ‘Buy Sell’ indicator strategies such as UT BOT, Alpha Trend and Range Filter.
UT BOT is telling us to buy the stock since it is showing green candles and green lines which are signaling the ticker is entering an uptrend. To avoid small noises we selected a one-hour time frame.
The same buy signal is given by AlhpaTrend in the one-hour time frame.
In the Range Filter strategy, there is a buy signal urging us to go long.
To wrap up, MYOV is indeed having an uptrend but for how long? Let’s wait for bids from other biotech giants to acquire the $1.723 billion Myovant.