Myriad Genetics, Inc. (NASDAQ:MYGN) Director Sells $270,500.00 in Stock

Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) Director Heinrich Dreismann sold 10,000 shares of Myriad Genetics stock in a transaction 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 completion of the sale, the director now directly owns 121,648 shares of the company's stock, valued at $3,290,578.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Myriad Genetics Stock Performance

Shares of Myriad Genetics stock traded up $0.17 on Monday, hitting $27.14. The stock had a trading volume of 659,362 shares, compared to its average volume of 723,058. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -9.48 and a beta of 1.92. The company has a current ratio of 1.96, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. Myriad Genetics, Inc. has a 52-week low of $13.82 and a 52-week high of $29.08. The company's 50 day moving average price is $27.02 and its 200 day moving average price is $23.77.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.06. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The business had revenue of $211.50 million for the quarter, compared to analyst estimates of $206.44 million. During the same quarter in the previous year, the company posted ($0.21) earnings per share. The company's revenue for the quarter was up 15.3% compared to the same quarter last year. On average, research analysts anticipate that Myriad Genetics, Inc. will post -0.34 EPS for the current year.

Institutional Trading of Myriad Genetics

Hedge funds have recently made changes to their positions in the company. Hexagon Capital Partners LLC raised its holdings in Myriad Genetics by 75.3% during the second quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company's stock worth $28,000 after purchasing an additional 491 shares in the last quarter. Innealta Capital LLC acquired a new position in Myriad Genetics during the 2nd quarter worth approximately $36,000. Point72 DIFC Ltd purchased a new position in shares of Myriad Genetics during the 2nd quarter worth approximately $60,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Myriad Genetics in the 2nd quarter valued at approximately $82,000. Finally, Neo Ivy Capital Management purchased a new stake in Myriad Genetics during the second quarter worth about $85,000. Institutional investors and hedge funds own 99.02% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wells Fargo & Company initiated coverage on shares of Myriad Genetics in a research report on Tuesday, August 27th. They set an "overweight" rating and a $35.00 price target on the stock. Scotiabank boosted their price target on shares of Myriad Genetics from $29.00 to $34.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, August 13th. Piper Sandler boosted their target price on Myriad Genetics from $28.00 to $30.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 13th. Jefferies Financial Group reiterated an "underperform" rating and set a $20.00 price target (down previously from $25.00) on shares of Myriad Genetics in a report on Monday, June 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Myriad Genetics from $17.00 to $20.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $28.60.

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.

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