Myriad Genetics (NASDAQ:MYGN) Stock Price Up 6.6%

Myriad Genetics, Inc. (NASDAQ:MYGN)’s share price traded up 6.6% during mid-day trading on Monday . The stock traded as high as $19.42 and last traded at $19.38. 825,655 shares changed hands during trading, an increase of 33% from the average session volume of 620,762 shares. The stock had previously closed at $18.18.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised their price target on Myriad Genetics from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $23.17.

Myriad Genetics Stock Up 8.9 %

The company has a current ratio of 2.01, a quick ratio of 1.87 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.79 billion, a P/E ratio of -6.16 and a beta of 1.95. The firm has a 50-day simple moving average of $21.08 and a two-hundred day simple moving average of $19.64.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. The firm had revenue of $196.60 million for the quarter, compared to analysts’ expectations of $194.80 million. Myriad Genetics had a negative return on equity of 8.03% and a negative net margin of 34.96%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.20) EPS. Equities research analysts expect that Myriad Genetics, Inc. will post -0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of Myriad Genetics by 4.4% in the third quarter. Wellington Management Group LLP now owns 5,996,260 shares of the company’s stock worth $96,180,000 after purchasing an additional 251,426 shares during the period. Qube Research & Technologies Ltd increased its position in shares of Myriad Genetics by 609.1% in the third quarter. Qube Research & Technologies Ltd now owns 131,553 shares of the company’s stock worth $2,110,000 after purchasing an additional 113,000 shares during the period. Deutsche Bank AG increased its position in shares of Myriad Genetics by 6.8% in the third quarter. Deutsche Bank AG now owns 41,428 shares of the company’s stock worth $665,000 after purchasing an additional 2,622 shares during the period. Jump Financial LLC increased its position in shares of Myriad Genetics by 16.0% in the third quarter. Jump Financial LLC now owns 84,924 shares of the company’s stock worth $1,362,000 after purchasing an additional 11,706 shares during the period. Finally, Invesco Ltd. increased its position in shares of Myriad Genetics by 6.7% in the third quarter. Invesco Ltd. now owns 757,576 shares of the company’s stock worth $12,152,000 after purchasing an additional 47,620 shares during the period. Institutional investors 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.