Myriad Genetics (NASDAQ:MYGN) Given New $21.00 Price Target at Morgan Stanley

Myriad Genetics (NASDAQ:MYGN - Get Free Report) had its price objective dropped by equities researchers at Morgan Stanley from $32.00 to $21.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price objective suggests a potential upside of 37.98% from the company's previous close.

Several other equities analysts have also commented on the stock. StockNews.com raised shares of Myriad Genetics from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price target on shares of Myriad Genetics from $17.00 to $20.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 7th. Piper Sandler dropped their price objective on shares of Myriad Genetics from $30.00 to $24.00 and set a "neutral" rating for the company in a research report on Monday, November 11th. Wells Fargo & Company initiated coverage on shares of Myriad Genetics in a research report on Tuesday, August 27th. They issued an "overweight" rating and a $35.00 price objective for the company. Finally, TD Cowen increased their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a "hold" rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $27.36.

Myriad Genetics Trading Down 0.2 %

MYGN stock traded down $0.03 on Monday, hitting $15.22. 1,188,663 shares of the company were exchanged, compared to its average volume of 741,917. Myriad Genetics has a twelve month low of $14.91 and a twelve month high of $29.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The business's fifty day moving average is $23.43 and its two-hundred day moving average is $24.67. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -11.73 and a beta of 1.93.

Insider Activity

In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the completion of the transaction, the director now directly owns 42,533 shares of the company's stock, valued at $1,188,797.35. The trade was a 51.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Paul J. Diaz sold 15,000 shares of the business's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $22.93, for a total transaction of $343,950.00. Following the transaction, the chief executive officer now directly owns 962,378 shares of the company's stock, valued at $22,067,327.54. The trade was a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 71,012 shares of company stock valued at $1,900,485. Company insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Myriad Genetics by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,154,035 shares of the company's stock valued at $59,010,000 after purchasing an additional 21,220 shares during the period. Disciplined Growth Investors Inc. MN lifted its stake in shares of Myriad Genetics by 21.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company's stock worth $69,226,000 after acquiring an additional 440,107 shares during the period. Barclays PLC lifted its stake in shares of Myriad Genetics by 136.9% in the 3rd quarter. Barclays PLC now owns 190,243 shares of the company's stock worth $5,210,000 after acquiring an additional 109,931 shares during the period. Y Intercept Hong Kong Ltd lifted its stake in shares of Myriad Genetics by 188.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 38,533 shares of the company's stock worth $1,055,000 after acquiring an additional 25,179 shares during the period. Finally, Jane Street Group LLC lifted its stake in shares of Myriad Genetics by 19.4% in the 3rd quarter. Jane Street Group LLC now owns 121,181 shares of the company's stock worth $3,319,000 after acquiring an additional 19,684 shares during the period. 99.02% of the stock is owned by institutional investors and hedge funds.

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.