Myriad Genetics (NASDAQ:MYGN) Director Sells $66,900.00 in Stock

Myriad Genetics, Inc. (NASDAQ:MYGN) Director Rashmi Kumar sold 15,000 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $4.46, for a total value of $66,900.00. Following the completion of the sale, the director owned 171,889 shares of the company’s stock, valued at $766,624.94. This trade represents a 8.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Myriad Genetics Trading Up 3.4%

Shares of Myriad Genetics stock traded up $0.15 during trading hours on Tuesday, hitting $4.54. The company’s stock had a trading volume of 1,137,927 shares, compared to its average volume of 1,634,140. Myriad Genetics, Inc. has a 12 month low of $3.53 and a 12 month high of $8.59. The stock has a 50 day moving average of $4.42 and a 200 day moving average of $5.34. The company has a market capitalization of $428.79 million, a PE ratio of -1.06 and a beta of 1.74. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.40 and a quick ratio of 2.19.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Myriad Genetics had a negative return on equity of 8.51% and a negative net margin of 48.24%.The business had revenue of $200.40 million during the quarter, compared to the consensus estimate of $202.42 million. During the same quarter last year, the company earned ($0.03) earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. Analysts predict that Myriad Genetics, Inc. will post -0.17 earnings per share for the current year.

Analysts Set New Price Targets

MYGN has been the subject of several recent research reports. Zacks Research raised Myriad Genetics from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 26th. TD Cowen reduced their price objective on Myriad Genetics from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, May 6th. Weiss Ratings raised Myriad Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. UBS Group reduced their price target on Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, February 24th. Finally, Wells Fargo & Company dropped their price objective on Myriad Genetics from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.50.

Institutional Trading of Myriad Genetics

Hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its holdings in Myriad Genetics by 1,088.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 4,089 shares of the company’s stock worth $30,000 after purchasing an additional 3,745 shares during the last quarter. Quarry LP raised its holdings in Myriad Genetics by 155.6% in the 4th quarter. Quarry LP now owns 4,365 shares of the company’s stock valued at $27,000 after acquiring an additional 2,657 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Myriad Genetics by 2,333.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company’s stock valued at $25,000 after acquiring an additional 4,480 shares in the last quarter. Royal Bank of Canada raised its holdings in Myriad Genetics by 129.6% in the 4th quarter. Royal Bank of Canada now owns 4,993 shares of the company’s stock valued at $31,000 after acquiring an additional 2,818 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Myriad Genetics in the 2nd quarter valued at $37,000. 99.02% of the stock is owned by institutional investors and hedge funds.

Myriad Genetics Company Profile

Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual’s risk for various hereditary conditions and to guide personalized treatment decisions. The company’s core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women’s health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.