Myriad Genetics (NASDAQ:MYGN) Stock Rating Lowered by Leerink Partnrs

Leerink Partnrs cut shares of Myriad Genetics (NASDAQ:MYGN - Free Report) from a strong-buy rating to a hold rating in a research report released on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Leerink Partners cut 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 report on Monday. StockNews.com cut Myriad Genetics from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Scotiabank upped their price target on Myriad Genetics from $29.00 to $34.00 and gave the company a "sector outperform" rating in a research report on Tuesday, August 13th. Piper Sandler decreased their price target on Myriad Genetics from $30.00 to $24.00 and set a "neutral" rating on the stock in a research report on Monday, November 11th. Finally, UBS Group began coverage on Myriad Genetics in a research report on Tuesday. They set a "neutral" rating and a $18.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $25.42.

Myriad Genetics Stock Performance

Myriad Genetics stock traded up $0.46 during midday trading on Monday, reaching $15.34. The stock had a trading volume of 818,177 shares, compared to its average volume of 747,253. Myriad Genetics has a 12 month low of $14.34 and a 12 month high of $29.30. The firm's 50-day moving average price is $19.78 and its 200 day moving average price is $23.81. The firm has a market capitalization of $1.40 billion, a PE ratio of -11.45 and a beta of 1.88. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05.

Insiders Place Their Bets

In other Myriad Genetics news, CEO Paul J. Diaz sold 15,000 shares of the company's 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 sale, the chief executive officer now owns 962,378 shares of the company's stock, valued at $22,067,327.54. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by insiders.

Institutional Trading of Myriad Genetics

A number of institutional investors have recently made changes to their positions in MYGN. Assenagon Asset Management S.A. boosted its stake in shares of Myriad Genetics by 26.7% during the second quarter. Assenagon Asset Management S.A. now owns 250,524 shares of the company's stock valued at $6,128,000 after purchasing an additional 52,813 shares during the period. Blue Trust Inc. boosted its stake in shares of Myriad Genetics by 26.6% during the second quarter. Blue Trust Inc. now owns 11,259 shares of the company's stock valued at $275,000 after purchasing an additional 2,365 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Myriad Genetics during the second quarter valued at approximately $85,000. Fifth Third Bancorp raised its holdings in shares of Myriad Genetics by 1.4% during the second quarter. Fifth Third Bancorp now owns 81,754 shares of the company's stock valued at $2,000,000 after acquiring an additional 1,139 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Myriad Genetics by 3.9% during the second quarter. Louisiana State Employees Retirement System now owns 45,500 shares of the company's stock valued at $1,113,000 after acquiring an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors 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.