Myriad Genetics (NASDAQ:MYGN) Hits New 12-Month Low - Should You Sell?

Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report)'s share price hit a new 52-week low during trading on Monday . The stock traded as low as $9.72 and last traded at $9.89, with a volume of 202849 shares changing hands. The stock had previously closed at $10.18.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MYGN shares. Leerink Partnrs downgraded shares of Myriad Genetics from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 9th. The Goldman Sachs Group cut their price target on Myriad Genetics from $29.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Bank of America cut their price objective on shares of Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating on the stock in a research report on Monday, March 3rd. StockNews.com cut shares of Myriad Genetics from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, UBS Group cut their price target on shares of Myriad Genetics from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $21.89.

Remove Ads

Myriad Genetics Price Performance

The company has a market capitalization of $914.00 million, a price-to-earnings ratio of -7.70 and a beta of 1.79. The stock has a fifty day simple moving average of $12.74 and a 200-day simple moving average of $17.99. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.12). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The business had revenue of $210.60 million during the quarter, compared to analysts' expectations of $210.35 million. During the same quarter last year, the firm earned ($0.12) earnings per share. On average, equities research analysts anticipate that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MYGN. Atria Investments Inc lifted its position in shares of Myriad Genetics by 5.4% in the third quarter. Atria Investments Inc now owns 11,414 shares of the company's stock valued at $313,000 after acquiring an additional 581 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in Myriad Genetics during the 3rd quarter worth $1,965,000. GSA Capital Partners LLP purchased a new stake in shares of Myriad Genetics during the third quarter worth $505,000. Simplify Asset Management Inc. acquired a new stake in shares of Myriad Genetics in the third quarter valued at about $4,756,000. Finally, Natixis Advisors LLC lifted its stake in shares of Myriad Genetics by 16.2% in the third quarter. Natixis Advisors LLC now owns 320,013 shares of the company's stock worth $8,765,000 after buying an additional 44,646 shares in the last quarter. 99.02% of the stock is owned by hedge funds and other institutional investors.

Myriad Genetics Company Profile

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.