Myriad Genetics (NASDAQ:MYGN) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Myriad Genetics (NASDAQ:MYGN) from a buy rating to a hold rating in a report issued on Wednesday.

Several other analysts have also issued reports on MYGN. JPMorgan Chase & Co. increased their price target on shares of Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. TD Cowen lifted their price target on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Wells Fargo & Company began 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. Piper Sandler decreased their target price on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Finally, Morgan Stanley dropped 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 report on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Myriad Genetics has an average rating of “Hold” and a consensus target price of $27.36.

Myriad Genetics Price Performance

Myriad Genetics stock opened at $15.49 on Wednesday. The stock’s fifty day moving average price is $22.26 and its two-hundred day moving average price is $24.48. The firm has a market cap of $1.41 billion, a PE ratio of -11.92 and a beta of 1.93. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. Myriad Genetics has a one year low of $14.72 and a one year high of $29.30.

Insider Buying and Selling at Myriad Genetics

In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total value of $1,286,035.40. Following the sale, the director now owns 42,533 shares in the company, valued at approximately $1,188,797.35. The trade was a 51.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Heinrich Dreismann sold 10,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $27.05, for a total value of $270,500.00. Following the completion of the sale, the director now directly owns 121,648 shares of the company’s stock, valued at approximately $3,290,578.40. The trade was a 7.60 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,012 shares of company stock worth $1,900,485. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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