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

Myriad Genetics (NASDAQ:MYGN) had its target price lowered by Bank of America from $15.00 to $13.00 in a research note published on Friday morning,Benzinga reports. Bank of America currently has an underperform rating on the stock.

Other research analysts have also issued research reports about the stock. Leerink Partners lowered shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $30.00 to $21.00 in a research note on Monday, December 9th. Leerink Partnrs lowered shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. UBS Group began coverage on Myriad Genetics in a research note on Tuesday. They issued a “neutral” rating and a $18.00 price target on the stock. Wells Fargo & Company initiated coverage on Myriad Genetics in a research note on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price objective for the company. Finally, Morgan Stanley cut their target price on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.17.

Myriad Genetics Trading Down 0.5 %

Shares of MYGN opened at $14.43 on Friday. The stock’s fifty day simple moving average is $18.82 and its 200-day simple moving average is $23.57. The firm has a market capitalization of $1.31 billion, a PE ratio of -11.10 and a beta of 1.87. Myriad Genetics has a 12-month low of $13.92 and a 12-month 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.

Insider Buying and Selling

In other news, CEO Paul J. Diaz sold 15,000 shares of the business’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 sale, the chief executive officer now owns 962,378 shares of the company’s stock, valued at $22,067,327.54. The trade was a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Myriad Genetics

Several hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its stake in shares of Myriad Genetics by 26.7% in the second quarter. Assenagon Asset Management S.A. now owns 250,524 shares of the company’s stock valued at $6,128,000 after buying an additional 52,813 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Myriad Genetics by 26.6% during the 2nd quarter. Blue Trust Inc. now owns 11,259 shares of the company’s stock worth $275,000 after purchasing an additional 2,365 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Myriad Genetics in the 2nd quarter valued at about $85,000. Fifth Third Bancorp raised its holdings in shares of Myriad Genetics by 1.4% in the 2nd quarter. Fifth Third Bancorp now owns 81,754 shares of the company’s stock valued at $2,000,000 after purchasing an additional 1,139 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in Myriad Genetics by 3.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 45,500 shares of the company’s stock valued at $1,113,000 after purchasing an additional 1,700 shares during the last quarter. Institutional investors 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.