Myriad Genetics, Inc. (NASDAQ:MYGN) CEO Sells 15,000 Shares

Myriad Genetics, Inc. (NASDAQ:MYGN) CEO Paul J. Diaz sold 15,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $22,067,327.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Myriad Genetics Price Performance

Shares of Myriad Genetics stock traded up $1.01 during trading on Friday, hitting $24.08. The stock had a trading volume of 771,142 shares, compared to its average volume of 716,842. The business has a fifty day moving average of $27.14 and a two-hundred day moving average of $24.51. Myriad Genetics, Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $29.30. The firm has a market cap of $2.19 billion, a P/E ratio of -13.30 and a beta of 1.91. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.96 and a quick ratio of 1.78.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MYGN. Hexagon Capital Partners LLC boosted its stake in shares of Myriad Genetics by 75.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock worth $28,000 after acquiring an additional 491 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Myriad Genetics in the 2nd quarter valued at $36,000. GAMMA Investing LLC increased its stake in Myriad Genetics by 34.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock worth $44,000 after purchasing an additional 412 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Myriad Genetics during the 2nd quarter worth about $60,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Myriad Genetics during the second quarter valued at about $82,000. Institutional investors and hedge funds own 99.02% of the company’s stock.

Analyst Upgrades and Downgrades

MYGN has been the subject of a number of analyst reports. Wells Fargo & Company assumed coverage on Myriad Genetics in a research report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price objective for the company. TD Cowen upped their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Morgan Stanley initiated coverage on shares of Myriad Genetics in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $32.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on shares of Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler raised their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.91.

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.