Myriad Genetics (NASDAQ:MYGN) Given New $13.00 Price Target at Bank of America

Myriad Genetics (NASDAQ:MYGN) had its price target reduced by Bank of America from $15.00 to $13.00 in a research report sent to investors on Friday morning,Benzinga reports. Bank of America currently has an underperform rating on the stock.

Other research analysts also recently issued reports about the company. StockNews.com downgraded Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. UBS Group began coverage on Myriad Genetics in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 price target on the stock. Wells Fargo & Company began coverage on Myriad Genetics in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price target on the stock. Leerink Partnrs downgraded Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Finally, Piper Sandler decreased their price target on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.27.

Myriad Genetics Trading Down 0.5 %

Shares of MYGN stock opened at $14.43 on Friday. The business’s 50 day moving average is $18.82 and its two-hundred day moving average is $23.58. Myriad Genetics has a twelve month low of $13.92 and a twelve month high of $29.30. The company has a market capitalization of $1.31 billion, a P/E ratio of -11.10 and a beta of 1.87. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05.

Insider Buying and Selling

In related news, CEO Paul J. Diaz sold 15,000 shares of Myriad Genetics stock in a transaction on Friday, October 11th. The stock was sold at an average price of $22.93, for a total transaction 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. The trade was a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Myriad Genetics

Institutional investors have recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D acquired a new position in shares of Myriad Genetics in the third quarter worth $1,965,000. Legato Capital Management LLC acquired a new position in shares of Myriad Genetics in the second quarter worth $1,123,000. Assenagon Asset Management S.A. raised its holdings in shares of Myriad Genetics by 26.7% in the second quarter. Assenagon Asset Management S.A. now owns 250,524 shares of the company’s stock worth $6,128,000 after acquiring an additional 52,813 shares during the last quarter. Maven Securities LTD acquired a new position in shares of Myriad Genetics in the second quarter worth $1,223,000. Finally, Simplify Asset Management Inc. acquired a new position in shares of Myriad Genetics in the third quarter worth $4,756,000. 99.02% of the stock is owned by institutional investors and hedge funds.

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.