Myriad Genetics, Inc. (NASDAQ:MYGN) Receives Average Rating of “Hold” from Brokerages

Myriad Genetics, Inc. (NASDAQ:MYGN) has been given a consensus recommendation of “Hold” by the twelve research firms that are presently covering the company, Marketbeat.com reports. 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 company. The average 12 month price target among brokerages that have covered the stock in the last year is $27.36.

A number of equities analysts recently issued reports on the stock. StockNews.com cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Piper Sandler cut their price target on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Morgan Stanley lowered their price objective on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Scotiabank increased their target price 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th.

Insider Activity at Myriad Genetics

In other Myriad Genetics news, Director Heinrich Dreismann sold 10,000 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $27.05, for a total value of $270,500.00. Following the transaction, the director now owns 121,648 shares of the company’s stock, valued at approximately $3,290,578.40. This represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul J. Diaz sold 15,000 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $22.93, for a total value of $343,950.00. Following the sale, the chief executive officer now owns 962,378 shares of the company’s stock, valued at approximately $22,067,327.54. This represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Myriad Genetics

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in shares of Myriad Genetics by 34.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after purchasing an additional 412 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in Myriad Genetics by 75.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock valued at $28,000 after buying an additional 491 shares in the last quarter. Atria Investments Inc increased its stake in Myriad Genetics by 5.4% in the 3rd quarter. Atria Investments Inc now owns 11,414 shares of the company’s stock worth $313,000 after acquiring an additional 581 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Myriad Genetics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock valued at $87,000 after acquiring an additional 583 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Myriad Genetics by 3.4% in the second quarter. Arizona State Retirement System now owns 25,160 shares of the company’s stock valued at $615,000 after purchasing an additional 829 shares in the last quarter. Institutional investors own 99.02% of the company’s stock.

Myriad Genetics Stock Performance

NASDAQ:MYGN opened at $16.23 on Wednesday. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -12.48 and a beta of 1.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. Myriad Genetics has a fifty-two week low of $14.72 and a fifty-two week high of $29.30. The stock has a fifty day moving average price of $20.85 and a 200-day moving average price of $24.11.

About Myriad Genetics

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.