Lee Nisley Newcomer Sells 6,200 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) Stock

Myriad Genetics, Inc. (NASDAQ:MYGNGet Free Report) Director Lee Nisley Newcomer sold 6,200 shares of Myriad Genetics stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $25.30, for a total value of $156,860.00. Following the transaction, the director now directly owns 66,650 shares of the company’s stock, valued at approximately $1,686,245. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Myriad Genetics Price Performance

Shares of MYGN traded down $0.70 during midday trading on Wednesday, reaching $24.66. The stock had a trading volume of 1,410,760 shares, compared to its average volume of 694,648. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -8.74 and a beta of 1.96. The company has a current ratio of 1.99, a quick ratio of 1.82 and a debt-to-equity ratio of 0.05. Myriad Genetics, Inc. has a 12-month low of $13.82 and a 12-month high of $25.95. The company’s 50-day moving average is $20.91 and its 200 day moving average is $20.24.

Myriad Genetics (NASDAQ:MYGNGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.09. The business had revenue of $202.20 million during the quarter, compared to analyst estimates of $193.51 million. Myriad Genetics had a negative return on equity of 6.77% and a negative net margin of 30.30%. Myriad Genetics’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.28) earnings per share. On average, equities analysts predict that Myriad Genetics, Inc. will post -0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Myriad Genetics

A number of large investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. grew its holdings in shares of Myriad Genetics by 96.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,101 shares of the company’s stock worth $34,000 after purchasing an additional 1,032 shares during the last quarter. Blue Trust Inc. grew its holdings in Myriad Genetics by 21.4% in the 4th quarter. Blue Trust Inc. now owns 6,729 shares of the company’s stock worth $129,000 after acquiring an additional 1,186 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Myriad Genetics by 9.0% during the first quarter. Ameritas Investment Partners Inc. now owns 8,747 shares of the company’s stock valued at $186,000 after acquiring an additional 720 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Myriad Genetics by 90.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,805 shares of the company’s stock worth $188,000 after purchasing an additional 4,193 shares during the last quarter. Finally, Clarus Wealth Advisors bought a new position in Myriad Genetics during the 4th quarter valued at approximately $204,000. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on MYGN. Piper Sandler upped their target price on shares of Myriad Genetics from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday. Leerink Partnrs upgraded Myriad Genetics from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 8th. SVB Leerink upgraded Myriad Genetics from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $25.00 to $35.00 in a research report on Wednesday, May 8th. Finally, The Goldman Sachs Group upped their price objective on shares of Myriad Genetics from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.57.

Check Out Our Latest Research Report on MYGN

About Myriad Genetics

(Get Free Report)

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.

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