Myriad Genetics (NASDAQ:MYGN) Shares Gap Down to $22.76

Myriad Genetics, Inc. (NASDAQ:MYGNGet Free Report)’s share price gapped down prior to trading on Monday . The stock had previously closed at $22.76, but opened at $22.04. Myriad Genetics shares last traded at $22.62, with a volume of 71,499 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. SVB Leerink upgraded Myriad Genetics from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $25.00 to $35.00 in a report on Wednesday, May 8th. Leerink Partnrs upgraded Myriad Genetics from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 8th. Jefferies Financial Group restated an “underperform” rating and set a $20.00 price target (down from $25.00) on shares of Myriad Genetics in a report on Monday. Finally, Piper Sandler boosted their price target on Myriad Genetics from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Myriad Genetics currently has a consensus rating of “Hold” and an average target price of $24.88.

Check Out Our Latest Research Report on MYGN

Myriad Genetics Trading Down 0.0 %

The stock has a 50 day moving average of $21.38 and a 200 day moving average of $20.97. The company has a quick ratio of 1.82, a current ratio of 1.99 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGNGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. Myriad Genetics had a negative return on equity of 6.77% and a negative net margin of 30.30%. The company had revenue of $202.20 million for the quarter, compared to analyst estimates of $193.51 million. During the same period in the previous year, the firm earned ($0.28) earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts predict that Myriad Genetics, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Myriad Genetics

In other news, CEO Paul J. Diaz sold 57,844 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $25.13, for a total transaction of $1,453,619.72. Following the transaction, the chief executive officer now directly owns 1,236,166 shares of the company’s stock, valued at $31,064,851.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Paul J. Diaz sold 57,844 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $25.13, for a total value of $1,453,619.72. Following the completion of the transaction, the chief executive officer now directly owns 1,236,166 shares of the company’s stock, valued at $31,064,851.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lee Nisley Newcomer sold 6,200 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $25.30, for a total value of $156,860.00. Following the sale, the director now directly owns 66,650 shares of the company’s stock, valued at $1,686,245. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,832 shares of company stock valued at $3,574,217. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Myriad Genetics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Natixis Advisors L.P. increased its position in shares of Myriad Genetics by 44.3% during the 4th quarter. Natixis Advisors L.P. now owns 190,278 shares of the company’s stock valued at $3,641,000 after purchasing an additional 58,449 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Myriad Genetics by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 5,996,260 shares of the company’s stock worth $96,180,000 after buying an additional 251,426 shares during the period. Qube Research & Technologies Ltd lifted its holdings in Myriad Genetics by 609.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 131,553 shares of the company’s stock worth $2,110,000 after buying an additional 113,000 shares during the period. Deutsche Bank AG lifted its holdings in Myriad Genetics by 6.8% in the 3rd quarter. Deutsche Bank AG now owns 41,428 shares of the company’s stock worth $665,000 after buying an additional 2,622 shares during the period. Finally, Invesco Ltd. lifted its holdings in Myriad Genetics by 6.7% in the 3rd quarter. Invesco Ltd. now owns 757,576 shares of the company’s stock worth $12,152,000 after buying an additional 47,620 shares during the period. 99.02% of the stock is currently owned by institutional investors.

About Myriad Genetics

(Get Free Report)

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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