Myriad Genetics (NASDAQ:MYGN) Sets New 52-Week Low – Time to Sell?

Myriad Genetics, Inc. (NASDAQ:MYGN)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $9.23 and last traded at $9.27, with a volume of 264735 shares traded. The stock had previously closed at $9.73.

Analyst Ratings Changes

A number of analysts have weighed in on MYGN shares. Raymond James reaffirmed an “outperform” rating and issued a $19.00 price target (down previously from $27.00) on shares of Myriad Genetics in a research report on Tuesday, February 25th. 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 report on Monday, December 9th. Bank of America reduced their price objective on shares of Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group lowered their target price on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Craig Hallum began coverage on shares of Myriad Genetics in a research report on Wednesday, February 12th. They set a “buy” rating and a $29.00 target price for the company. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.89.

Myriad Genetics Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The firm has a market cap of $810.82 million, a P/E ratio of -6.83 and a beta of 1.79. The stock’s 50 day moving average is $11.83 and its two-hundred day moving average is $16.70.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12). Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The company had revenue of $210.60 million for the quarter, compared to the consensus estimate of $210.35 million. During the same quarter last year, the business earned ($0.12) EPS. As a group, equities analysts predict that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Myriad Genetics by 43.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 285,229 shares of the company’s stock worth $3,910,000 after purchasing an additional 86,973 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in Myriad Genetics during the 4th quarter worth $1,635,000. Squarepoint Ops LLC boosted its holdings in Myriad Genetics by 27.0% in the fourth quarter. Squarepoint Ops LLC now owns 138,869 shares of the company’s stock valued at $1,904,000 after acquiring an additional 29,524 shares during the last quarter. Twinbeech Capital LP bought a new position in Myriad Genetics in the fourth quarter valued at approximately $562,000. Finally, Rafferty Asset Management LLC increased its holdings in Myriad Genetics by 50.4% in the fourth quarter. Rafferty Asset Management LLC now owns 166,138 shares of the company’s stock valued at $2,278,000 after purchasing an additional 55,690 shares during the last quarter. Institutional investors 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.