Myriad Genetics, Inc. (NASDAQ:MYGN) Receives Average Rating of “Hold” from Analysts

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have been given a consensus recommendation of “Hold” by the twelve analysts that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $24.27.

MYGN has been the topic of several analyst reports. Morgan Stanley dropped their target price on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. UBS Group initiated coverage on shares of Myriad Genetics in a research note on Tuesday, December 10th. They set a “neutral” rating and a $18.00 target price for the company. Piper Sandler dropped their price target on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Leerink Partnrs cut Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. Finally, StockNews.com raised Myriad Genetics from a “hold” rating to a “buy” rating in a report on Thursday, January 9th.

Myriad Genetics Trading Down 3.9 %

Myriad Genetics stock opened at $13.15 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. Myriad Genetics has a 1 year low of $12.81 and a 1 year high of $29.30. The firm’s 50-day moving average is $14.98 and its 200-day moving average is $22.10. The company has a market cap of $1.20 billion, a P/E ratio of -10.12 and a beta of 1.89.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Loomis Sayles & Co. L P raised its holdings in Myriad Genetics by 153.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,189,601 shares of the company’s stock worth $59,973,000 after acquiring an additional 1,326,497 shares during the period. Disciplined Growth Investors Inc. MN grew its holdings in Myriad Genetics by 21.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock valued at $69,226,000 after buying an additional 440,107 shares during the last quarter. Iron Triangle Partners LP acquired a new position in shares of Myriad Genetics during the third quarter worth approximately $11,007,000. State Street Corp grew its stake in shares of Myriad Genetics by 8.3% in the third quarter. State Street Corp now owns 4,703,442 shares of the company’s stock worth $128,827,000 after acquiring an additional 359,685 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in Myriad Genetics by 26.7% during the third quarter. Point72 Asset Management L.P. now owns 1,063,711 shares of the company’s stock worth $29,135,000 after acquiring an additional 224,255 shares during the period. Institutional investors and hedge funds own 99.02% of the company’s stock.

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.