Myriad Genetics (NASDAQ:MYGN) Price Target Lowered to $13.00 at Bank of America

Myriad Genetics (NASDAQ:MYGN - Free Report) had its price target trimmed by Bank of America from $15.00 to $13.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an underperform rating on the stock.

MYGN has been the subject of several other reports. UBS Group initiated coverage on shares of Myriad Genetics in a research report on Tuesday. They issued a "neutral" rating and a $18.00 target price for the company. Morgan Stanley decreased their price objective on shares of Myriad Genetics from $32.00 to $21.00 and set an "equal weight" rating for the company in a report on Monday, November 18th. Leerink Partners lowered Myriad Genetics from an "outperform" rating to a "market perform" rating and cut their target price for the company from $30.00 to $21.00 in a report on Monday, December 9th. Piper Sandler decreased their price target on Myriad Genetics from $30.00 to $24.00 and set a "neutral" rating for the company in a research note on Monday, November 11th. Finally, Wells Fargo & Company started coverage on Myriad Genetics in a research note on Tuesday, August 27th. They issued an "overweight" rating and a $35.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $24.17.

Myriad Genetics Stock Down 0.5 %

Shares of NASDAQ MYGN traded down $0.07 during trading hours on Friday, hitting $14.43. The stock had a trading volume of 1,148,550 shares, compared to its average volume of 757,894. The firm's 50-day moving average price is $18.82 and its two-hundred day moving average price is $23.57. Myriad Genetics has a 52 week low of $13.92 and a 52 week high of $29.30. The company has a market capitalization of $1.31 billion, a P/E ratio of -11.10 and a beta of 1.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90.

Insider Buying and Selling

In other news, CEO Paul J. Diaz sold 15,000 shares of Myriad Genetics stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $22.93, for a total transaction of $343,950.00. Following the sale, the chief executive officer now owns 962,378 shares of the company's stock, valued at approximately $22,067,327.54. This trade represents a 1.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MYGN. State Street Corp raised its holdings in shares of Myriad Genetics by 8.3% in the 3rd quarter. State Street Corp now owns 4,703,442 shares of the company's stock worth $128,827,000 after buying an additional 359,685 shares in the last quarter. Earnest Partners LLC raised its stake in Myriad Genetics by 3.5% during the second quarter. Earnest Partners LLC now owns 4,072,018 shares of the company's stock worth $99,602,000 after acquiring an additional 138,960 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Myriad Genetics by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,776,959 shares of the company's stock worth $67,924,000 after acquiring an additional 75,445 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Myriad Genetics by 21.1% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company's stock valued at $69,226,000 after acquiring an additional 440,107 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Myriad Genetics by 5.4% in the 2nd quarter. Sei Investments Co. now owns 2,417,192 shares of the company's stock valued at $59,125,000 after purchasing an additional 124,007 shares in the last quarter. 99.02% of the stock is owned by institutional investors.

About Myriad Genetics

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.