Myriad Genetics (NASDAQ:MYGN) Stock Rating Lowered by Leerink Partnrs

Myriad Genetics (NASDAQ:MYGN) was downgraded by research analysts at Leerink Partnrs from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company initiated coverage on Myriad Genetics in a research report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price target for the company. Leerink Partners downgraded Myriad Genetics from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $30.00 to $21.00 in a research report on Monday. Morgan Stanley lowered their price target on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. UBS Group initiated coverage on Myriad Genetics in a research report on Tuesday. They set a “neutral” rating and a $18.00 price target for the company. Finally, Scotiabank boosted their price target on Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $25.42.

Myriad Genetics Price Performance

Shares of NASDAQ:MYGN opened at $15.34 on Monday. The company has a market cap of $1.40 billion, a P/E ratio of -11.80 and a beta of 1.88. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. Myriad Genetics has a 52 week low of $14.34 and a 52 week high of $29.30. The business has a fifty day simple moving average of $19.55 and a 200-day simple moving average of $23.76.

Insider Buying and Selling

In related news, CEO Paul J. Diaz sold 15,000 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $22.93, for a total value of $343,950.00. Following the transaction, the chief executive officer now owns 962,378 shares in the company, valued at approximately $22,067,327.54. The trade was a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.10% of the company’s stock.

Institutional Trading of Myriad Genetics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new stake in Myriad Genetics in the third quarter valued at about $32,000. Innealta Capital LLC bought a new stake in Myriad Genetics in the second quarter valued at about $36,000. GAMMA Investing LLC increased its holdings in Myriad Genetics by 34.1% in the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after buying an additional 412 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Myriad Genetics in the second quarter valued at about $60,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Myriad Genetics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock valued at $87,000 after buying an additional 583 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.