OvaScience Inc (OVAS) Buyout Rumors Emerge


While the market is down considerably since the start of 2016, many solid stocks have been beaten down. This has sparked buyout rumors related to many undervalued equities, and today those rumors include OvaScience Inc (NASDAQ:OVAS).

While the rumors can not be substantiated, word on the street has indicated that a buyer is interested in acquiring OvaScience Inc (NASDAQ:OVAS), and that the offer is currently in the ‘teens’.

Shares of OvaScience Inc (NASDAQ:OVAS) soared in late trading yesterday as the market recovered from an earlier selloff. Today the stock has been trading all over the board, plunging at the start before jumping back into positive territory, and then slightly back down. We will be watching the stock and the rumor mill to see what ends of becoming of this latest buyout chatter. The stock has dropped 1.32% or $0.11 trading at $8.24, despite this positive news. Approximately 171,298 shares traded hands. OVAS shares have declined 78.45% since June 16, 2015 and are currently downtrending. It has underperformed the S&P500 by 69.58%.

From a total of 4 analysts covering OvaScience (NASDAQ:OVAS) stock, 2 rate it a “Buy”, 0 a “Sell”, and 2 a “Hold”. This means that 50% of the ratings are positive. The highest target price is $48 while the lowest target price is $12.0. The mean of all analyst targets is $15 which is 82.04% above today’s ($8.24) stock price. OvaScience was the topic of 7 analyst reports since August 11, 2015 according to the firm StockzIntelligence Inc. Leerink Swann downgraded shares on November 9 to a “Market Perform” rating. JMP Securities downgraded OVAS stock in a recent report from September 29 to a “Mkt Perform” rating.

The institutional sentiment decreased to 1.26 in Q2 2015. It’s down 0.71, from 1.97 in 2015Q2. The ratio dropped, as 18 funds sold all their OvaScience Inc shares they owned while 24 reduced their positions. 15 funds bought stakes while 38 increased their total positions. Institutions now own 27.09 million shares which is 5.64% more than the previous share count of 25.64 million in 2015Q2.

Arrowpoint Asset Management Llc holds 0.47% of its total portfolio in OvaScience Inc, equating to 2.01 million shares. Cormorant Asset Management Llc owns 252,180 shares representing 0.34% of their total US portfolio. Moreover, Bbt Capital Management Llc has 0.33% of their total portfolio invested in the company, equating to 422,800 shares. The New York-based Trellus Management Company Llc has a total of 0.3% of their portfolio invested in the stock. Awm Investment Company Inc., a New York-based fund reported 115,000 shares owned.

Since April 8, 2015, the stock had 4 insider buys, and 0 sales for a total of $242,096 in net activity. Young Jeffrey E bought 3,450 shares worth $36,915. Kozin Marc D bought 4,800 shares worth $51,792. Fisher Mary bought 6,100 shares worth $100,589. Harding David bought 1,000 shares worth $32,230. The insider Mcneely Theresa bought 400 shares worth $11,717.

OvaScience, Inc. is a global fertility company. The company has a market cap of $224.77 million. The Firm is focused on the discovery, development and commercialization of new fertility treatments based on egg precursor or EggPC cells, which are immature egg cells found in the protective outer layer of a woman’s own ovaries. It currently has negative earnings. With the Company’s AUGMENT treatment, energy-producing mitochondria from a patient’s own EggPC cells are added to the patient’s mature eggs during the In vitro fertilization process to supplement the existing mitochondria.