Myriad Genetics (NASDAQ:MYGN) Trading Up 4.3%

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) were up 4.3% during trading on Tuesday . The stock traded as high as $25.08 and last traded at $25.01. Approximately 95,890 shares traded hands during trading, a decline of 86% from the average daily volume of 703,069 shares. The stock had previously closed at $23.97.

Analysts Set New Price Targets

Several equities analysts recently commented on MYGN shares. Scotiabank started coverage on shares of Myriad Genetics in a report on Thursday, June 27th. They set a “sector outperform” rating and a $29.00 target price on the stock. SVB Leerink raised shares of Myriad Genetics from a “market perform” rating to an “outperform” rating and increased their target price for the company from $25.00 to $35.00 in a report on Wednesday, May 8th. Jefferies Financial Group reaffirmed an “underperform” rating and set a $20.00 target price (down previously from $25.00) on shares of Myriad Genetics in a report on Monday, June 3rd. Piper Sandler increased their target price on shares of Myriad Genetics from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Finally, Leerink Partnrs raised shares of Myriad Genetics from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $25.33.

Myriad Genetics Price Performance

The company’s 50-day moving average price is $23.00 and its 200 day moving average price is $21.68. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.99 and a quick ratio of 1.82.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, May 7th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.09. Myriad Genetics had a negative net margin of 30.30% and a negative return on equity of 6.77%. The firm had revenue of $202.20 million during the quarter, compared to analysts’ expectations of $193.51 million. During the same period last year, the company posted ($0.28) EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, research analysts forecast that Myriad Genetics, Inc. will post -0.36 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Paul J. Diaz sold 57,844 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $25.13, for a total value of $1,453,619.72. Following the completion of the transaction, the chief executive officer now directly owns 1,236,166 shares in the company, valued at approximately $31,064,851.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Myriad Genetics news, Director Daniel K. Spiegelman sold 3,788 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $22.04, for a total transaction of $83,487.52. Following the completion of the sale, the director now directly owns 36,705 shares in the company, valued at approximately $808,978.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Paul J. Diaz sold 57,844 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $25.13, for a total transaction of $1,453,619.72. Following the sale, the chief executive officer now owns 1,236,166 shares of the company’s stock, valued at $31,064,851.58. The disclosure for this sale can be found here. Insiders sold a total of 142,832 shares of company stock worth $3,574,217 in the last three months. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Myriad Genetics

A number of institutional investors and hedge funds have recently bought and sold shares of MYGN. DekaBank Deutsche Girozentrale grew its stake in shares of Myriad Genetics by 9.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 35,272 shares of the company’s stock worth $751,000 after acquiring an additional 2,980 shares during the period. Tidal Investments LLC bought a new stake in shares of Myriad Genetics in the first quarter worth approximately $606,000. California State Teachers Retirement System grew its stake in shares of Myriad Genetics by 3.0% in the first quarter. California State Teachers Retirement System now owns 88,787 shares of the company’s stock worth $1,893,000 after acquiring an additional 2,564 shares during the period. Earnest Partners LLC grew its stake in shares of Myriad Genetics by 0.5% in the first quarter. Earnest Partners LLC now owns 3,933,058 shares of the company’s stock worth $83,853,000 after acquiring an additional 19,145 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Myriad Genetics by 13.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 53,568 shares of the company’s stock worth $1,143,000 after acquiring an additional 6,337 shares during the period. 99.02% of the stock is currently owned by institutional investors.

About Myriad Genetics

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.