Myriad Genetics (NASDAQ:MYGN) Stock Rating Upgraded by StockNews.com

Myriad Genetics (NASDAQ:MYGN) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

MYGN has been the topic of several other research reports. Piper Sandler cut their price target on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday. TD Cowen upped their price target on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Morgan Stanley started coverage on Myriad Genetics in a research note on Thursday, September 19th. They set an “equal weight” rating and a $32.00 price target on the stock. Finally, 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 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $28.36.

Myriad Genetics Price Performance

Myriad Genetics stock opened at $15.78 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The firm has a market cap of $1.44 billion, a P/E ratio of -12.14 and a beta of 1.93. The business’s fifty day moving average is $23.90 and its two-hundred day moving average is $24.69. Myriad Genetics has a 52 week low of $15.72 and a 52 week high of $29.30.

Insider Buying and Selling at Myriad Genetics

In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total value of $1,286,035.40. Following the completion of the sale, the director now directly owns 42,533 shares in the company, valued at $1,188,797.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total value of $1,286,035.40. Following the completion of the sale, the director now directly owns 42,533 shares in the company, valued at $1,188,797.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul J. Diaz sold 15,000 shares of the stock in a transaction dated 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,012 shares of company stock valued at $1,900,485. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Myriad Genetics by 34.1% during the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock worth $44,000 after buying an additional 412 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of 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 buying an additional 491 shares in the last quarter. Atria Investments Inc grew its holdings in shares of Myriad Genetics by 5.4% during the third quarter. Atria Investments Inc now owns 11,414 shares of the company’s stock worth $313,000 after buying an additional 581 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Myriad Genetics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock worth $87,000 after buying an additional 583 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of Myriad Genetics by 9.0% during the first quarter. Ameritas Investment Partners Inc. now owns 8,747 shares of the company’s stock worth $186,000 after buying an additional 720 shares in the last quarter. 99.02% of the stock is currently owned by institutional investors.

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.