Myriad Genetics (NASDAQ:MYGN) Given New $13.00 Price Target at Bank of America

Myriad Genetics (NASDAQ:MYGN) had its price target reduced by equities researchers at Bank of America from $15.00 to $13.00 in a report issued on Friday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Bank of America‘s price objective suggests a potential downside of 9.91% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley cut their target price on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. UBS Group initiated coverage on shares of Myriad Genetics in a report on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 price target for the company. Leerink Partners downgraded shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $30.00 to $21.00 in a report on Monday, December 9th. Leerink Partnrs cut shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Wells Fargo & Company began coverage on shares of Myriad Genetics in a research report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $24.27.

Myriad Genetics Price Performance

MYGN stock opened at $14.43 on Friday. Myriad Genetics has a one year low of $13.92 and a one year high of $29.30. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.31 billion, a PE ratio of -11.10 and a beta of 1.87. The firm has a 50-day moving average of $18.82 and a two-hundred day moving average of $23.57.

Insider Buying and Selling at Myriad Genetics

In other news, CEO Paul J. Diaz sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 962,378 shares of the company’s stock, valued at $22,067,327.54. This trade represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd bought a new position in shares of Myriad Genetics during the third quarter worth approximately $32,000. Innealta Capital LLC acquired a new stake in Myriad Genetics in the second quarter valued at $36,000. GAMMA Investing LLC boosted its holdings in Myriad Genetics by 34.1% in the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after acquiring an additional 412 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Myriad Genetics during the second quarter worth $60,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Myriad Genetics in the 2nd quarter valued at about $82,000. Institutional investors and hedge funds own 99.02% of the company’s stock.

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.