Myriad Genetics (NASDAQ:MYGN) Hits New 1-Year Low - What's Next?

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as $12.81 and last traded at $12.96, with a volume of 264287 shares. The stock had previously closed at $13.68.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MYGN. StockNews.com upgraded Myriad Genetics from a "hold" rating to a "buy" rating in a report on Thursday, January 9th. Leerink Partnrs cut shares of Myriad Genetics from a "strong-buy" rating to a "hold" rating in a report on Monday, December 9th. Leerink Partners downgraded shares of Myriad Genetics from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $30.00 to $21.00 in a research note on Monday, December 9th. Morgan Stanley reduced their target price on Myriad Genetics from $32.00 to $21.00 and set an "equal weight" rating for the company in a research note on Monday, November 18th. Finally, UBS Group initiated coverage on Myriad Genetics in a research note on Tuesday, December 10th. They set a "neutral" rating and a $18.00 price target on the stock. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Myriad Genetics currently has a consensus rating of "Hold" and a consensus price target of $24.27.

Myriad Genetics Trading Down 3.9 %

The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.20 billion, a PE ratio of -10.12 and a beta of 1.89. The firm has a fifty day simple moving average of $14.98 and a two-hundred day simple moving average of $22.10.

Institutional Trading of Myriad Genetics

Several large investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new position in shares of Myriad Genetics in the 3rd quarter valued at approximately $32,000. GAMMA Investing LLC raised its holdings in Myriad Genetics by 34.1% in the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company's stock worth $44,000 after purchasing an additional 412 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Myriad Genetics during the second quarter valued at $60,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Myriad Genetics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company's stock valued at $87,000 after buying an additional 583 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Myriad Genetics in the 2nd quarter worth about $82,000. 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.