Myriad Genetics (NASDAQ:MYGN) Cut to “Market Perform” at Leerink Partners

Leerink Partners cut shares of Myriad Genetics (NASDAQ:MYGN) from an outperform rating to a market perform rating in a research note issued to investors on Monday, MarketBeat.com reports. Leerink Partners currently has $21.00 price objective on the stock, down from their prior price objective of $30.00.

MYGN has been the subject of several other research reports. StockNews.com cut Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Piper Sandler decreased their price objective on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Morgan Stanley lowered 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. Wells Fargo & Company began coverage on shares of Myriad Genetics in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price target for the company. Finally, Scotiabank boosted their price objective on shares of Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Myriad Genetics currently has an average rating of “Hold” and an average target price of $26.09.

Myriad Genetics Stock Down 1.7 %

Shares of NASDAQ:MYGN opened at $14.88 on Monday. Myriad Genetics has a 52 week low of $14.34 and a 52 week high of $29.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The company has a market cap of $1.35 billion, a PE ratio of -11.45 and a beta of 1.88. The firm has a 50 day simple moving average of $19.78 and a 200 day simple moving average of $23.81.

Insider Transactions at Myriad Genetics

In related 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 transaction, the chief executive officer now directly owns 962,378 shares of the company’s stock, valued at approximately $22,067,327.54. This trade represents a 1.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Myriad Genetics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D acquired a new stake in shares of Myriad Genetics in the third quarter worth $1,965,000. Legato Capital Management LLC acquired a new position in Myriad Genetics during the 2nd quarter worth $1,123,000. Assenagon Asset Management S.A. boosted its holdings in Myriad Genetics by 26.7% during the second quarter. Assenagon Asset Management S.A. now owns 250,524 shares of the company’s stock valued at $6,128,000 after acquiring an additional 52,813 shares during the period. Maven Securities LTD acquired a new stake in shares of Myriad Genetics in the second quarter valued at about $1,223,000. Finally, Simplify Asset Management Inc. acquired a new stake in shares of Myriad Genetics in the third quarter valued at about $4,756,000. 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.