Myriad Genetics, Inc. (NASDAQ:MYGN) rose 8.3% during trading on Tuesday . The stock traded as high as $21.75 and last traded at $21.58. Approximately 686,912 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 727,806 shares. The stock had previously closed at $19.92.
MYGN has been the subject of several recent analyst reports. Piper Sandler boosted their price target on shares of Myriad Genetics from $14.00 to $18.00 and gave the stock a â€œneutralâ€ rating in a report on Tuesday, November 10th. ValuEngine lowered shares of Myriad Genetics from a â€œstrong-buyâ€ rating to a â€œbuyâ€ rating in a report on Tuesday. Finally, BidaskClub raised shares of Myriad Genetics from a â€œholdâ€ rating to a â€œbuyâ€ rating in a report on Friday, December 25th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of â€œHoldâ€ and a consensus price target of $13.60.
The firm has a market cap of $1.80 billion, a PE ratio of -9.18 and a beta of 1.69. The stockâ€™s fifty day moving average price is $18.64 and its 200-day moving average price is $14.41. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.95 and a quick ratio of 2.75.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Monday, November 9th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.15. The firm had revenue of $145.20 million for the quarter, compared to analystsâ€™ expectations of $134.59 million. Myriad Genetics had a negative net margin of 32.49% and a negative return on equity of 4.07%. The companyâ€™s revenue was down 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. On average, sell-side analysts anticipate that Myriad Genetics, Inc. will post -0.57 earnings per share for the current fiscal year.
In other news, Director S. Louise Phanstiel purchased 15,000 shares of the stock in a transaction dated Wednesday, November 11th. The shares were purchased at an average price of $16.62 per share, with a total value of $249,300.00. Following the transaction, the director now owns 66,790 shares in the company, valued at approximately $1,110,049.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.80% of the companyâ€™s stock.
Hedge funds have recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. acquired a new position in Myriad Genetics in the first quarter valued at about $183,000. Prudential Financial Inc. lifted its position in Myriad Genetics by 5.9% in the second quarter. Prudential Financial Inc. now owns 124,087 shares of the companyâ€™s stock valued at $1,407,000 after buying an additional 6,946 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Myriad Genetics by 5.9% in the second quarter. Bank of New York Mellon Corp now owns 944,197 shares of the companyâ€™s stock valued at $10,707,000 after buying an additional 52,323 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Myriad Genetics by 103.9% in the second quarter. Goldman Sachs Group Inc. now owns 1,142,151 shares of the companyâ€™s stock valued at $12,952,000 after buying an additional 581,899 shares during the last quarter. Finally, AlphaCrest Capital Management LLC acquired a new position in Myriad Genetics in the second quarter valued at about $117,000. 91.06% of the stock is currently owned by hedge funds and other institutional investors.
About Myriad Genetics (NASDAQ:MYGN)
Myriad Genetics, Inc, a molecular diagnostic company, develops and markets predictive, personalized, and prognostic medicine tests in the United States and internationally. The company offers 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; and riskScore, a personalized medicine tool.
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