Myriad Genetics (NASDAQ:MYGN) Coverage Initiated at UBS Group

UBS Group started coverage on shares of Myriad Genetics (NASDAQ:MYGN) in a research note published on Tuesday morning, Marketbeat.com reports. The firm issued a neutral rating and a $18.00 price objective on the stock.

MYGN has been the subject of several other research reports. Piper Sandler decreased their target price on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. StockNews.com cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Morgan Stanley reduced their target price on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. Scotiabank increased their price objective 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. Finally, Wells Fargo & Company assumed coverage on Myriad Genetics in a research report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Myriad Genetics has a consensus rating of “Hold” and an average price target of $25.42.

Myriad Genetics Stock Performance

MYGN opened at $15.34 on Tuesday. Myriad Genetics has a 1-year low of $14.34 and a 1-year high of $29.30. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -11.80 and a beta of 1.88. The business has a 50 day moving average price of $19.55 and a two-hundred day moving average price of $23.76. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73.

Insider Activity

In other Myriad Genetics news, CEO Paul J. Diaz sold 15,000 shares of Myriad Genetics stock in a transaction on Friday, October 11th. The shares were 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 owns 962,378 shares of the company’s stock, valued at $22,067,327.54. This trade represents a 1.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Myriad Genetics

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its position in Myriad Genetics by 8.3% in the 3rd quarter. State Street Corp now owns 4,703,442 shares of the company’s stock worth $128,827,000 after purchasing an additional 359,685 shares during the last quarter. Earnest Partners LLC increased its holdings in Myriad Genetics by 3.5% in the second quarter. Earnest Partners LLC now owns 4,072,018 shares of the company’s stock worth $99,602,000 after buying an additional 138,960 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Myriad Genetics by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,776,959 shares of the company’s stock worth $67,924,000 after buying an additional 75,445 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its position in Myriad Genetics by 21.1% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock valued at $69,226,000 after acquiring an additional 440,107 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Myriad Genetics by 5.4% in the second quarter. Sei Investments Co. now owns 2,417,192 shares of the company’s stock valued at $59,125,000 after acquiring an additional 124,007 shares during the last quarter. 99.02% of the stock is currently owned by hedge funds and other 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.