Myriad Genetics (NASDAQ:MYGN) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Myriad Genetics (NASDAQ:MYGN) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Other equities analysts have also recently issued reports about the stock. Leerink Partnrs cut shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. Stephens restated an “equal weight” rating and issued a $20.00 target price on shares of Myriad Genetics in a research report on Thursday, January 16th. Craig Hallum began coverage on shares of Myriad Genetics in a research report on Wednesday, February 12th. They issued a “buy” rating and a $29.00 target price for the company. Piper Sandler decreased their price target on shares of Myriad Genetics from $24.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Finally, Morgan Stanley decreased their price target on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Myriad Genetics currently has an average rating of “Hold” and a consensus target price of $22.54.

Myriad Genetics Price Performance

Shares of NASDAQ:MYGN opened at $14.19 on Thursday. The firm has a 50 day moving average of $13.45 and a 200-day moving average of $19.53. The stock has a market capitalization of $1.29 billion, a PE ratio of -10.92 and a beta of 1.88. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. Myriad Genetics has a 12 month low of $12.04 and a 12 month high of $29.30.

Institutional Investors Weigh In On Myriad Genetics

Institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd bought a new stake in Myriad Genetics during the 3rd quarter worth approximately $32,000. Sterling Capital Management LLC grew its holdings in Myriad Genetics by 829.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company’s stock worth $39,000 after acquiring an additional 2,556 shares during the last quarter. KBC Group NV grew its holdings in Myriad Genetics by 132.8% during the 4th quarter. KBC Group NV now owns 5,845 shares of the company’s stock worth $80,000 after acquiring an additional 3,334 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Myriad Genetics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock worth $87,000 after acquiring an additional 583 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in Myriad Genetics by 43.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock worth $132,000 after acquiring an additional 1,471 shares during the last quarter. 99.02% of the stock is 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.