Insider Selling: Myriad Genetics, Inc. (NASDAQ:MYGN) CEO Sells $343,950.00 in Stock

Myriad Genetics, Inc. (NASDAQ:MYGN) CEO Paul J. Diaz sold 15,000 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the transaction, the chief executive officer now directly owns 962,378 shares of the company’s stock, valued at approximately $22,067,327.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Myriad Genetics Price Performance

Shares of NASDAQ MYGN opened at $24.08 on Monday. Myriad Genetics, Inc. has a 1-year low of $13.82 and a 1-year high of $29.30. The business has a 50-day moving average of $27.09 and a 200-day moving average of $24.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.96 and a quick ratio of 1.78. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -8.54 and a beta of 1.91.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.06. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The company had revenue of $211.50 million during the quarter, compared to the consensus estimate of $206.44 million. During the same quarter in the prior year, the business earned ($0.21) earnings per share. The company’s revenue was up 15.3% compared to the same quarter last year. On average, equities analysts anticipate that Myriad Genetics, Inc. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MYGN shares. Wells Fargo & Company started coverage on Myriad Genetics in a report on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price target for the company. Morgan Stanley started coverage on Myriad Genetics in a research note on Thursday, September 19th. They issued an “equal weight” rating and a $32.00 target price for the company. JPMorgan Chase & Co. upped their target price on Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Scotiabank upped their target price on Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 13th. Finally, TD Cowen upped their target price on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Myriad Genetics currently has a consensus rating of “Hold” and a consensus target price of $28.91.

Institutional Investors Weigh In On Myriad Genetics

Several institutional investors and hedge funds have recently modified their holdings of MYGN. Hexagon Capital Partners LLC boosted its holdings in 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 purchased a new position in Myriad Genetics in the second quarter valued at about $36,000. GAMMA Investing LLC boosted its holdings in Myriad Genetics by 34.1% in the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after purchasing an additional 412 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Myriad Genetics in the second quarter valued at about $60,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Myriad Genetics in the second quarter valued at about $82,000. Hedge funds and other institutional investors own 99.02% of the company’s stock.

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.