Myriad Genetics (NASDAQ:MYGN) Sets New 52-Week Low – Should You Sell?

Myriad Genetics, Inc. (NASDAQ:MYGN) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $8.53 and last traded at $8.87, with a volume of 1095635 shares trading hands. The stock had previously closed at $8.88.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Raymond James restated an “outperform” rating and issued a $19.00 price target (down previously from $27.00) on shares of Myriad Genetics in a research note on Tuesday, February 25th. The Goldman Sachs Group lowered their target price on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Stephens reiterated an “equal weight” rating and issued a $20.00 price target on shares of Myriad Genetics in a research note on Thursday, January 16th. Craig Hallum started coverage on shares of Myriad Genetics in a research report on Wednesday, February 12th. They set a “buy” rating and a $29.00 price objective on the stock. Finally, StockNews.com raised shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Tuesday, March 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.89.

Myriad Genetics Stock Down 0.1 %

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 company has a fifty day simple moving average of $11.69 and a 200-day simple moving average of $16.30. The firm has a market cap of $809.91 million, a P/E ratio of -6.82 and a beta of 1.79.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). The company had revenue of $210.60 million for the quarter, compared to the consensus estimate of $210.35 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. During the same quarter last year, the firm posted ($0.12) earnings per share. On average, equities analysts anticipate that Myriad Genetics, Inc. will post -0.3 earnings per share for the current year.

Institutional Trading of Myriad Genetics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new position in Myriad Genetics in the 3rd quarter worth $32,000. Sterling Capital Management LLC boosted its stake in shares of Myriad Genetics by 829.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,864 shares of the company’s stock worth $39,000 after acquiring an additional 2,556 shares during the period. KBC Group NV grew its position in shares of Myriad Genetics by 132.8% during the fourth quarter. KBC Group NV now owns 5,845 shares of the company’s stock worth $80,000 after purchasing an additional 3,334 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in Myriad Genetics by 43.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock valued at $132,000 after purchasing an additional 1,471 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Myriad Genetics in the 3rd quarter worth approximately $153,000. 99.02% of the stock is owned by hedge funds and other 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.