Myriad Genetics (NASDAQ:MYGN) Given New $24.00 Price Target at Piper Sandler

Myriad Genetics (NASDAQ:MYGN) had its price objective lowered by Piper Sandler from $30.00 to $24.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

MYGN has been the subject of a number of other research reports. Scotiabank increased 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. Morgan Stanley began coverage on Myriad Genetics in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $32.00 price target for the company. JPMorgan Chase & Co. increased their price target on Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. TD Cowen increased their price target on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company began coverage on Myriad Genetics in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price target for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Myriad Genetics currently has a consensus rating of “Hold” and an average price target of $28.36.

Myriad Genetics Price Performance

NASDAQ MYGN opened at $17.31 on Monday. Myriad Genetics has a 1 year low of $16.10 and a 1 year high of $29.30. The business’s fifty day moving average is $24.32 and its two-hundred day moving average is $24.77. The stock has a market capitalization of $1.57 billion, a P/E ratio of -13.32 and a beta of 1.93. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 1.96.

Insider Transactions at Myriad Genetics

In other news, 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 sale, the chief executive officer now directly owns 962,378 shares of the company’s stock, valued at $22,067,327.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Colleen F. Reitan sold 46,012 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total value of $1,286,035.40. Following the transaction, the director now directly owns 42,533 shares of the company’s stock, valued at approximately $1,188,797.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul J. Diaz sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $22.93, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,012 shares of company stock valued at $1,900,485 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MYGN. UniSuper Management Pty Ltd acquired a new stake in Myriad Genetics in the 1st quarter valued at approximately $467,000. Legato Capital Management LLC acquired a new stake in Myriad Genetics in the 2nd quarter valued at approximately $1,123,000. Assenagon Asset Management S.A. grew its holdings in Myriad Genetics by 26.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 250,524 shares of the company’s stock valued at $6,128,000 after buying an additional 52,813 shares during the last quarter. Maven Securities LTD acquired a new stake in Myriad Genetics in the 2nd quarter valued at approximately $1,223,000. Finally, Tidal Investments LLC acquired a new stake in Myriad Genetics in the 1st quarter valued at approximately $606,000. 99.02% of the stock is owned by institutional investors.

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.