Myriad Genetics (NASDAQ:MYGN) Cut to Hold at Leerink Partnrs

Leerink Partnrs lowered shares of Myriad Genetics (NASDAQ:MYGN) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports. Leerink Partnrs also issued estimates for Myriad Genetics’ Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.04) EPS, Q4 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.18) EPS.

Several other equities analysts have also recently weighed in on MYGN. UBS Group began coverage on shares of Myriad Genetics in a research report on Tuesday. They set a “neutral” rating and a $18.00 price objective on the stock. Leerink Partners lowered Myriad Genetics from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $30.00 to $21.00 in a research report on Monday. Wells Fargo & Company started coverage on Myriad Genetics in a research report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price objective for the company. Scotiabank upped their target price on Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 13th. Finally, StockNews.com lowered shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. 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 company. Based on data from MarketBeat.com, Myriad Genetics presently has a consensus rating of “Hold” and an average price target of $25.42.

Myriad Genetics Stock Down 5.4 %

MYGN stock opened at $14.51 on Monday. The firm has a market cap of $1.32 billion, a PE ratio of -11.16 and a beta of 1.87. Myriad Genetics has a 12 month low of $14.34 and a 12 month high of $29.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The firm has a 50 day simple moving average of $19.30 and a 200 day simple moving average of $23.69.

Insider Buying and Selling

In related news, CEO Paul J. Diaz sold 15,000 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $22.93, for a total value of $343,950.00. Following the transaction, the chief executive officer now directly owns 962,378 shares in the company, valued at approximately $22,067,327.54. This trade represents a 1.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Myriad Genetics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Myriad Genetics by 8.3% in the 3rd quarter. State Street Corp now owns 4,703,442 shares of the company’s stock valued at $128,827,000 after purchasing an additional 359,685 shares during the period. Earnest Partners LLC lifted its stake in shares of Myriad Genetics by 3.5% in the second quarter. Earnest Partners LLC now owns 4,072,018 shares of the company’s stock valued at $99,602,000 after buying an additional 138,960 shares during the period. Dimensional Fund Advisors LP grew its position in Myriad Genetics by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,776,959 shares of the company’s stock worth $67,924,000 after buying an additional 75,445 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its stake in Myriad Genetics by 21.1% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock valued at $69,226,000 after acquiring an additional 440,107 shares during the period. Finally, Sei Investments Co. raised its holdings in Myriad Genetics by 5.4% in the 2nd quarter. Sei Investments Co. now owns 2,417,192 shares of the company’s stock valued at $59,125,000 after acquiring an additional 124,007 shares in the last quarter. Institutional investors and hedge funds 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.