Shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) reached a new 52-week low on Friday . The stock traded as low as $14.34 and last traded at $14.54, with a volume of 112349 shares. The stock had previously closed at $16.36.
Analyst Upgrades and Downgrades
Several research firms have weighed in on MYGN. Wells Fargo & Company began coverage on Myriad Genetics in a report on Tuesday, August 27th. They set an "overweight" rating and a $35.00 target price on the stock. Piper Sandler dropped their target price on Myriad Genetics from $30.00 to $24.00 and set a "neutral" rating on the stock in a report on Monday, November 11th. Scotiabank upped their target price on Myriad Genetics from $29.00 to $34.00 and gave the stock a "sector outperform" rating in a report on Tuesday, August 13th. Morgan Stanley dropped their target price on Myriad Genetics from $32.00 to $21.00 and set an "equal weight" rating on the stock in a report on Monday, November 18th. Finally, StockNews.com lowered Myriad Genetics from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Myriad Genetics has a consensus rating of "Hold" and an average price target of $27.36.
Get Our Latest Analysis on Myriad Genetics
Myriad Genetics Stock Performance
The firm has a market capitalization of $1.38 billion, a P/E ratio of -11.64 and a beta of 1.87. 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 company has a 50-day moving average of $20.03 and a 200-day moving average of $23.88.
Insider Buying and Selling at Myriad Genetics
In other Myriad Genetics news, CEO Paul J. Diaz sold 15,000 shares of Myriad Genetics stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $22.93, for a total transaction of $343,950.00. Following the completion of the transaction, the chief executive officer now owns 962,378 shares in the company, valued at approximately $22,067,327.54. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Heinrich Dreismann sold 10,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $27.05, for a total value of $270,500.00. Following the sale, the director now directly owns 121,648 shares of the company's stock, valued at $3,290,578.40. The trade was a 7.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.
Hedge Funds Weigh In On Myriad Genetics
Large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its position in shares of Myriad Genetics by 13.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 53,568 shares of the company's stock valued at $1,143,000 after acquiring an additional 6,337 shares during the period. California State Teachers Retirement System boosted its position in shares of Myriad Genetics by 3.0% in the first quarter. California State Teachers Retirement System now owns 88,787 shares of the company's stock valued at $1,893,000 after acquiring an additional 2,564 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of Myriad Genetics by 75.3% in the second quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company's stock valued at $28,000 after acquiring an additional 491 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Myriad Genetics by 26.7% in the second quarter. Assenagon Asset Management S.A. now owns 250,524 shares of the company's stock valued at $6,128,000 after acquiring an additional 52,813 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Myriad Genetics by 26.6% in the second quarter. Blue Trust Inc. now owns 11,259 shares of the company's stock valued at $275,000 after acquiring an additional 2,365 shares during the period. Hedge funds and other institutional investors own 99.02% of the company's stock.
About Myriad Genetics
(
Get Free Report)
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.
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