MYGN has been the topic of several other reports. BidaskClub upgraded Myriad Genetics from a sell rating to a hold rating in a research report on Saturday, May 4th. Zacks Investment Research upgraded Myriad Genetics from a sell rating to a hold rating and set a $30.00 target price on the stock in a research report on Monday, July 1st. Barclays upgraded Myriad Genetics from an underweight rating to an equal weight rating and raised their target price for the company from $18.00 to $40.00 in a research report on Thursday. Needham & Company LLC cut Myriad Genetics from a strong-buy rating to a hold rating in a research report on Monday, July 29th. Finally, Cowen cut Myriad Genetics from an outperform rating to a market perform rating and set a $26.64 target price on the stock. in a research report on Tuesday, July 9th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $39.94.
MYGN traded down $1.67 during trading hours on Thursday, hitting $45.41. The company’s stock had a trading volume of 88,305 shares, compared to its average volume of 1,186,201. Myriad Genetics has a fifty-two week low of $22.07 and a fifty-two week high of $50.44. The company has a quick ratio of 2.86, a current ratio of 3.15 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 38.55, a PEG ratio of 3.84 and a beta of 0.81. The business’s 50-day moving average is $27.20.
In other Myriad Genetics news, insider Bernard Tobin sold 11,712 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $40.00, for a total transaction of $468,480.00. Following the completion of the transaction, the insider now directly owns 146,040 shares of the company’s stock, valued at approximately $5,841,600. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Bryan Riggsbee sold 25,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $41.50, for a total value of $1,037,500.00. Following the transaction, the chief financial officer now directly owns 120,566 shares of the company’s stock, valued at $5,003,489. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,712 shares of company stock valued at $4,115,380. 5.80% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pearl River Capital LLC boosted its holdings in Myriad Genetics by 154.9% during the 1st quarter. Pearl River Capital LLC now owns 882 shares of the company’s stock valued at $30,000 after acquiring an additional 536 shares during the period. Investors Research Corp purchased a new stake in shares of Myriad Genetics in the first quarter worth about $46,000. Financial Gravity Wealth Inc. purchased a new stake in shares of Myriad Genetics in the first quarter worth about $56,000. Nisa Investment Advisors LLC boosted its position in shares of Myriad Genetics by 625.0% in the first quarter. Nisa Investment Advisors LLC now owns 2,320 shares of the company’s stock worth $77,000 after buying an additional 2,000 shares during the period. Finally, Clarus Wealth Advisors boosted its position in shares of Myriad Genetics by 126.2% in the second quarter. Clarus Wealth Advisors now owns 3,393 shares of the company’s stock worth $94,000 after buying an additional 1,893 shares during the period. 99.22% of the stock is owned by hedge funds and other institutional investors.
About Myriad Genetics
Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.
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