Myriad Genetics (NASDAQ:MYGN) Sets New 1-Year Low - Should You Sell?

Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $9.23 and last traded at $9.27, with a volume of 264735 shares traded. The stock had previously closed at $9.73.

Analyst Upgrades and Downgrades

MYGN has been the topic of a number of recent analyst reports. Leerink Partners lowered shares of Myriad Genetics from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $30.00 to $21.00 in a research note on Monday, December 9th. Leerink Partnrs downgraded Myriad Genetics from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 9th. Stephens restated an "equal weight" rating and issued a $20.00 price target on shares of Myriad Genetics in a research note on Thursday, January 16th. UBS Group cut their price objective on Myriad Genetics from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Finally, Piper Sandler upgraded shares of Myriad Genetics from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $11.50 to $12.50 in a research report on Wednesday, March 12th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $21.89.

Myriad Genetics Trading Down 3.7 %

The business has a 50 day moving average of $11.76 and a 200-day moving average of $16.43. The stock has a market cap of $810.82 million, a PE ratio of -6.83 and a beta of 1.79. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05.

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). The company had revenue of $210.60 million for the quarter, compared to analysts' expectations of $210.35 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same quarter in the prior year, the business posted ($0.12) EPS. On average, analysts anticipate that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Institutional Trading of Myriad Genetics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB boosted its holdings in shares of Myriad Genetics by 117.0% during the fourth quarter. Nordea Investment Management AB now owns 332,913 shares of the company's stock worth $4,548,000 after purchasing an additional 179,527 shares during the last quarter. Jennison Associates LLC boosted its stake in Myriad Genetics by 144.2% in the 4th quarter. Jennison Associates LLC now owns 59,015 shares of the company's stock worth $809,000 after buying an additional 34,853 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Myriad Genetics by 6.4% in the 4th quarter. Victory Capital Management Inc. now owns 61,341 shares of the company's stock valued at $841,000 after buying an additional 3,711 shares during the period. Barclays PLC increased its stake in shares of Myriad Genetics by 136.9% during the 3rd quarter. Barclays PLC now owns 190,243 shares of the company's stock valued at $5,210,000 after acquiring an additional 109,931 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Myriad Genetics by 26.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,063,711 shares of the company's stock worth $29,135,000 after acquiring an additional 224,255 shares during the period. 99.02% of the stock is owned by hedge funds and other 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.