Myriad Genetics (NASDAQ:MYGN) Reaches New 12-Month Low – What’s Next?

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $13.73 and last traded at $13.77, with a volume of 34936 shares traded. The stock had previously closed at $13.82.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Leerink Partners lowered Myriad Genetics from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $30.00 to $21.00 in a report on Monday, December 9th. UBS Group began coverage on shares of Myriad Genetics in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 price target for the company. Wells Fargo & Company assumed coverage on Myriad Genetics in a report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 target price on the stock. Leerink Partnrs lowered Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Finally, Piper Sandler cut their price objective on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Myriad Genetics currently has a consensus rating of “Hold” and a consensus price target of $24.27.

Myriad Genetics Stock Performance

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’s fifty day moving average price is $17.92 and its 200 day moving average price is $23.31. The firm has a market capitalization of $1.20 billion, a PE ratio of -10.13 and a beta of 1.87.

Insider Transactions at Myriad Genetics

In related news, CEO Paul J. Diaz sold 15,000 shares of Myriad Genetics 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 completion of the sale, the chief executive officer now owns 962,378 shares of the company’s stock, valued at approximately $22,067,327.54. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Myriad Genetics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Loomis Sayles & Co. L P increased its holdings in shares of Myriad Genetics by 153.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,189,601 shares of the company’s stock valued at $59,973,000 after acquiring an additional 1,326,497 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its stake in Myriad Genetics by 21.1% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock valued at $69,226,000 after purchasing an additional 440,107 shares during the last quarter. Iron Triangle Partners LP bought a new stake in shares of Myriad Genetics in the third quarter valued at about $11,007,000. State Street Corp grew its holdings in shares of Myriad Genetics by 8.3% during the 3rd quarter. State Street Corp now owns 4,703,442 shares of the company’s stock worth $128,827,000 after purchasing an additional 359,685 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Myriad Genetics by 26.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,063,711 shares of the company’s stock valued at $29,135,000 after buying an additional 224,255 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.