Myriad Genetics, Inc. (NASDAQ:MYGN) Director Heinrich Dreismann Sells 10,000 Shares

Myriad Genetics, Inc. (NASDAQ:MYGN) Director Heinrich Dreismann sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $27.05, for a total value of $270,500.00. Following the completion of the sale, the director now owns 121,648 shares in the company, valued at approximately $3,290,578.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Myriad Genetics Stock Up 0.6 %

MYGN stock opened at $27.14 on Tuesday. Myriad Genetics, Inc. has a 1-year low of $13.82 and a 1-year high of $29.08. The business’s 50 day simple moving average is $27.08 and its 200 day simple moving average is $23.80. The company has a current ratio of 1.96, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.46 billion, a PE ratio of -9.62 and a beta of 1.92.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. The firm had revenue of $211.50 million for the quarter, compared to the consensus estimate of $206.44 million. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. The company’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.21) earnings per share. As a group, research analysts anticipate that Myriad Genetics, Inc. will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Hexagon Capital Partners LLC grew its position in shares of Myriad Genetics by 75.3% in the second quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock valued at $28,000 after purchasing an additional 491 shares during the last quarter. Innealta Capital LLC bought a new stake in Myriad Genetics in the 2nd quarter valued at $36,000. Point72 DIFC Ltd bought a new stake in Myriad Genetics in the 2nd quarter valued at $60,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Myriad Genetics in the 2nd quarter valued at $82,000. Finally, Neo Ivy Capital Management bought a new position in Myriad Genetics during the 2nd quarter worth $85,000. 99.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MYGN. Piper Sandler boosted their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price target on shares of Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. TD Cowen raised their price objective on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Wells Fargo & Company began coverage on Myriad Genetics in a report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 target price on the stock. Finally, Jefferies Financial Group reissued an “underperform” rating and set a $20.00 price target (down from $25.00) on shares of Myriad Genetics in a research report on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $28.60.

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.