Myriad Genetics Inc. (MYGN) Short Interest Update
Myriad Genetics Inc. (NASDAQ:MYGN) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 22,281,030 shares, a decline of 6.6% from the October 31st total of 23,864,590 shares. Currently, 32.9% of the shares of the stock are short sold. Based on an average daily volume of 2,452,432 shares, the short-interest ratio is currently 9.1 days.
A number of analysts have recently issued reports on the stock. Gabelli downgraded shares of Myriad Genetics from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $46.00 to $32.00 in a report on Wednesday, August 10th. Stephens downgraded shares of Myriad Genetics from an “overweight” rating to an “equal weight” rating in a report on Wednesday, November 2nd. Morgan Stanley dropped their price objective on shares of Myriad Genetics from $25.00 to $21.00 and set an “underweight” rating for the company in a report on Wednesday, August 10th. Zacks Investment Research downgraded shares of Myriad Genetics from a “hold” rating to a “sell” rating in a report on Tuesday, October 25th. Finally, Jefferies Group dropped their price objective on shares of Myriad Genetics from $34.00 to $20.00 and set a “hold” rating for the company in a report on Thursday, August 11th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $31.00.
In other news, Director John T. Henderson sold 30,000 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $20.49, for a total transaction of $614,700.00. Following the completion of the transaction, the director now directly owns 49,493 shares in the company, valued at approximately $1,014,111.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.20% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Myriad Genetics by 7.7% in the first quarter. Geode Capital Management LLC now owns 527,592 shares of the company’s stock worth $19,747,000 after buying an additional 37,842 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of Myriad Genetics by 210.3% in the first quarter. Squarepoint Ops LLC now owns 21,100 shares of the company’s stock worth $790,000 after buying an additional 14,300 shares during the last quarter. BlueMountain Capital Management LLC acquired a new position in shares of Myriad Genetics during the first quarter worth approximately $509,000. BNP Paribas Arbitrage SA boosted its position in shares of Myriad Genetics by 28.6% in the second quarter. BNP Paribas Arbitrage SA now owns 19,992 shares of the company’s stock worth $612,000 after buying an additional 4,449 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Myriad Genetics by 2.7% in the second quarter. Fisher Asset Management LLC now owns 92,236 shares of the company’s stock worth $2,957,000 after buying an additional 2,453 shares during the last quarter.
Myriad Genetics (NASDAQ:MYGN) opened at 17.46 on Monday. The stock has a market cap of $1.19 billion, a PE ratio of 13.50 and a beta of 0.42. Myriad Genetics has a 12 month low of $15.92 and a 12 month high of $44.57. The company’s 50 day moving average is $18.31 and its 200 day moving average is $25.44.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by $0.02. Myriad Genetics had a return on equity of 13.98% and a net margin of 11.38%. The business earned $177.50 million during the quarter, compared to analysts’ expectations of $172.31 million. During the same period in the previous year, the business earned $0.41 earnings per share. The business’s quarterly revenue was down 3.3% on a year-over-year basis. On average, analysts anticipate that Myriad Genetics will post $0.99 EPS for the current fiscal year.
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About Myriad Genetics
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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