Myriad Genetics (NASDAQ:MYGN) Hits New 12-Month Low at $19.08

Myriad Genetics, Inc. (NASDAQ:MYGN) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $19.08 and last traded at $19.65, with a volume of 1223432 shares. The stock had previously closed at $19.42.

MYGN has been the subject of several research reports. Needham & Company LLC initiated coverage on Myriad Genetics in a research report on Friday, January 3rd. They issued a “strong-buy” rating and a $36.00 target price for the company. Piper Sandler decreased their target price on Myriad Genetics from to in a research report on Friday, February 7th. ValuEngine raised Myriad Genetics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 12th. BidaskClub downgraded Myriad Genetics from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Finally, Leerink Swann cut their price target on Myriad Genetics from $37.00 to $28.00 and set a “market perform” rating on the stock in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $25.16.

The firm has a market cap of $1.45 billion, a P/E ratio of -54.58, a P/E/G ratio of 12.78 and a beta of 0.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.00 and a current ratio of 3.25. The firm has a fifty day moving average of $26.41 and a 200-day moving average of $28.03.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. The business had revenue of $195.10 million for the quarter, compared to the consensus estimate of $209.61 million. Myriad Genetics had a positive return on equity of 5.42% and a negative net margin of 3.22%. The business’s revenue was down 10.0% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. Equities research analysts expect that Myriad Genetics, Inc. will post 0.13 earnings per share for the current year.

In other Myriad Genetics news, Director Walter Phd Gilbert bought 5,860 shares of the business’s stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $25.60 per share, with a total value of $150,016.00. Following the purchase, the director now directly owns 54,150 shares of the company’s stock, valued at $1,386,240. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicole Lambert sold 4,354 shares of Myriad Genetics stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $19.73, for a total value of $85,904.42. Following the sale, the insider now directly owns 59,150 shares in the company, valued at approximately $1,167,029.50. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd bought a new stake in Myriad Genetics during the 4th quarter valued at $62,000. UBS Asset Management Americas Inc. raised its stake in Myriad Genetics by 1.7% during the 4th quarter. UBS Asset Management Americas Inc. now owns 97,139 shares of the company’s stock valued at $2,645,000 after acquiring an additional 1,623 shares in the last quarter. GHP Investment Advisors Inc. raised its stake in Myriad Genetics by 9.6% during the 4th quarter. GHP Investment Advisors Inc. now owns 71,837 shares of the company’s stock valued at $1,956,000 after acquiring an additional 6,300 shares in the last quarter. Guggenheim Capital LLC raised its stake in Myriad Genetics by 8.3% during the 4th quarter. Guggenheim Capital LLC now owns 114,452 shares of the company’s stock valued at $3,117,000 after acquiring an additional 8,780 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in Myriad Genetics by 4.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 538,289 shares of the company’s stock valued at $14,658,000 after acquiring an additional 21,690 shares in the last quarter.

Myriad Genetics Company Profile (NASDAQ:MYGN)

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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