Myriad Genetics (NASDAQ:MYGN) Sets New 1-Year Low - Time to Sell?

Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $13.73 and last traded at $13.77, with a volume of 34936 shares changing hands. The stock had previously closed at $13.82.

Analysts Set New Price Targets

MYGN has been the topic of several recent research reports. Bank of America lowered their price target on shares of Myriad Genetics from $15.00 to $13.00 and set an "underperform" rating on the stock in a report on Friday, December 13th. Leerink Partners lowered Myriad Genetics from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $30.00 to $21.00 in a report on Monday, December 9th. Wells Fargo & Company began coverage on Myriad Genetics in a report on Tuesday, August 27th. They issued an "overweight" rating and a $35.00 price target for the company. Leerink Partnrs lowered Myriad Genetics from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 9th. Finally, UBS Group initiated coverage on shares of Myriad Genetics in a report on Tuesday, December 10th. They set a "neutral" rating and a $18.00 target price for the company. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Myriad Genetics presently has a consensus rating of "Hold" and an average price target of $24.27.

Myriad Genetics Stock Down 4.1 %

The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -10.19 and a beta of 1.87. The business's 50 day moving average is $18.11 and its 200-day moving average is $23.38. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90.

Insider Transactions at Myriad Genetics

In other news, CEO Paul J. Diaz sold 15,000 shares of Myriad Genetics 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 sale, the chief executive officer now directly owns 962,378 shares of the company's stock, valued at $22,067,327.54. The trade was a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Myriad Genetics

Several institutional investors and hedge funds have recently added to or reduced their stakes in MYGN. State of New Jersey Common Pension Fund D acquired a new stake in shares of Myriad Genetics in the third quarter valued at about $1,965,000. Legato Capital Management LLC acquired a new stake in Myriad Genetics during the second quarter worth $1,123,000. Maven Securities LTD purchased a new stake in shares of Myriad Genetics in the 2nd quarter valued at approximately $1,223,000. Simplify Asset Management Inc. acquired a new position in Myriad Genetics during the third quarter worth $4,756,000. Finally, Sei Investments Co. boosted its holdings in Myriad Genetics by 5.4% during the 2nd quarter. Sei Investments Co. now owns 2,417,192 shares of the company's stock valued at $59,125,000 after acquiring an additional 124,007 shares during the period. Institutional investors and hedge funds own 99.02% of the company's stock.

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.