Myriad Genetics (NASDAQ:MYGN) Upgraded at StockNews.com

StockNews.com upgraded shares of Myriad Genetics (NASDAQ:MYGN) from a hold rating to a buy rating in a research report report published on Tuesday.

A number of other equities analysts have also recently commented on MYGN. Morgan Stanley started coverage on Myriad Genetics in a report on Thursday, September 19th. They set an “equal weight” rating and a $32.00 price target for the company. Scotiabank lifted their target price on Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 13th. Piper Sandler dropped their price target on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday. Wells Fargo & Company began coverage on shares of Myriad Genetics in a research report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Myriad Genetics has an average rating of “Hold” and an average target price of $28.36.

Myriad Genetics Trading Down 1.3 %

MYGN stock traded down $0.21 during trading hours on Tuesday, reaching $15.47. The stock had a trading volume of 104,619 shares, compared to its average volume of 736,429. The stock has a 50-day simple moving average of $23.66 and a 200 day simple moving average of $24.63. Myriad Genetics has a fifty-two week low of $15.37 and a fifty-two week high of $29.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90.

Insiders Place Their Bets

In other news, CEO Paul J. Diaz sold 15,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 962,378 shares in the company, valued at approximately $22,067,327.54. This represents a 1.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Heinrich Dreismann sold 10,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $27.05, for a total value of $270,500.00. Following the completion of the transaction, the director now directly owns 121,648 shares of the company’s stock, valued at approximately $3,290,578.40. This trade represents a 7.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,012 shares of company stock worth $1,900,485 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Myriad Genetics

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Myriad Genetics by 34.1% during the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock worth $44,000 after purchasing an additional 412 shares during the last quarter. Hexagon Capital Partners LLC lifted its position 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 buying an additional 491 shares during the last quarter. Atria Investments Inc boosted its stake in Myriad Genetics by 5.4% in the third quarter. Atria Investments Inc now owns 11,414 shares of the company’s stock valued at $313,000 after buying an additional 581 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position 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 acquiring an additional 583 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in Myriad Genetics by 9.0% during the first quarter. Ameritas Investment Partners Inc. now owns 8,747 shares of the company’s stock worth $186,000 after acquiring an additional 720 shares in the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Company Profile

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.