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

Myriad Genetics, Inc. (NASDAQ:MYGN) has been assigned a consensus rating of “Hold” from the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $27.36.

Several brokerages have recently issued reports on MYGN. Wells Fargo & Company initiated 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. Morgan Stanley decreased their price target on 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. TD Cowen raised their price target on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Scotiabank upped their price objective on shares of Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 13th. Finally, StockNews.com cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

Myriad Genetics Trading Down 0.1 %

Myriad Genetics stock opened at $16.27 on Wednesday. Myriad Genetics has a 52-week low of $14.72 and a 52-week high of $29.30. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -12.52 and a beta of 1.93. The firm has a 50-day moving average price of $21.06 and a two-hundred day moving average price of $24.17.

Insider Buying and Selling at Myriad Genetics

In other Myriad Genetics news, CEO Paul J. Diaz sold 15,000 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $22.93, for a total transaction of $343,950.00. Following the completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Colleen F. Reitan sold 46,012 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the completion of the transaction, the director now owns 42,533 shares of the company’s stock, valued at approximately $1,188,797.35. The trade was a 51.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,012 shares of company stock valued at $1,900,485. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Myriad Genetics

Large investors have recently added to or reduced their stakes in the company. 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 valued at $28,000 after buying an additional 491 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Myriad Genetics during the 3rd quarter valued at about $32,000. Innealta Capital LLC purchased a new position in Myriad Genetics during the 2nd quarter valued at about $36,000. GAMMA Investing LLC increased its holdings in shares of Myriad Genetics by 34.1% in 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 period. Finally, Point72 DIFC Ltd purchased a new stake in shares of Myriad Genetics in the second quarter worth approximately $60,000. 99.02% of the stock is owned by institutional investors and hedge funds.

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.