Piper Sandler Has Lowered Expectations for Myriad Genetics (NASDAQ:MYGN) Stock Price

Myriad Genetics (NASDAQ:MYGN - Free Report) had its price target lowered by Piper Sandler from $30.00 to $24.00 in a report published on Monday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts have also commented on MYGN. JPMorgan Chase & Co. upped their price target on shares of Myriad Genetics from $17.00 to $20.00 and gave the company an "underweight" rating in a report on Wednesday, August 7th. Scotiabank boosted their price target on Myriad Genetics from $29.00 to $34.00 and gave the company a "sector outperform" rating in a report on Tuesday, August 13th. Morgan Stanley initiated coverage on Myriad Genetics in a report on Thursday, September 19th. They issued an "equal weight" rating and a $32.00 price objective for the company. Wells Fargo & Company started coverage on Myriad Genetics in a research note on Tuesday, August 27th. They set an "overweight" rating and a $35.00 target price on the stock. Finally, TD Cowen lifted their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a "hold" rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Myriad Genetics has an average rating of "Hold" and a consensus price target of $28.36.

Myriad Genetics Stock Performance

NASDAQ:MYGN traded down $0.06 during trading hours on Monday, reaching $17.35. The stock had a trading volume of 374,887 shares, compared to its average volume of 729,757. Myriad Genetics has a 12-month low of $16.10 and a 12-month high of $29.30. The stock has a 50 day simple moving average of $24.54 and a 200 day simple moving average of $24.78. The stock has a market cap of $1.58 billion, a P/E ratio of -13.39 and a beta of 1.93. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 1.96.

Insider Buying and Selling at Myriad Genetics

In related news, Director Heinrich Dreismann sold 10,000 shares of the company's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $27.05, for a total transaction of $270,500.00. Following the transaction, the director now directly owns 121,648 shares in the company, valued at approximately $3,290,578.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Heinrich Dreismann sold 10,000 shares of the firm's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $27.05, for a total value of $270,500.00. Following the transaction, the director now owns 121,648 shares of the company's stock, valued at $3,290,578.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Paul J. Diaz sold 15,000 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the transaction, the chief executive officer now directly owns 962,378 shares in the company, valued at approximately $22,067,327.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,012 shares of company stock worth $1,900,485 over the last 90 days. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MYGN. Simplify Asset Management Inc. purchased a new position in Myriad Genetics in the third quarter worth $4,756,000. Earnest Partners LLC boosted its holdings in Myriad Genetics by 3.5% in the second quarter. Earnest Partners LLC now owns 4,072,018 shares of the company's stock worth $99,602,000 after acquiring an additional 138,960 shares in the last quarter. Sei Investments Co. grew its stake in shares of Myriad Genetics by 5.4% during the second quarter. Sei Investments Co. now owns 2,417,192 shares of the company's stock worth $59,125,000 after acquiring an additional 124,007 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Myriad Genetics during the second quarter valued at about $2,315,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Myriad Genetics by 426.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 115,036 shares of the company's stock worth $3,151,000 after purchasing an additional 93,171 shares in the last quarter. 99.02% of the stock is currently 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.