Insider Selling: Myriad Genetics, Inc. (NASDAQ:MYGN) Director Sells $270,500.00 in Stock

Myriad Genetics, Inc. (NASDAQ:MYGN) Director Heinrich Dreismann sold 10,000 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $27.05, for a total transaction of $270,500.00. Following the transaction, the director now directly owns 121,648 shares in the company, valued at approximately $3,290,578.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Myriad Genetics Trading Down 2.8 %

Myriad Genetics stock opened at $26.28 on Thursday. Myriad Genetics, Inc. has a 52-week low of $13.82 and a 52-week high of $29.08. The company has a quick ratio of 1.78, a current ratio of 1.96 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -9.32 and a beta of 1.92. The firm has a 50-day moving average price of $27.15 and a two-hundred day moving average price of $23.85.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The company had revenue of $211.50 million for the quarter, compared to analysts’ expectations of $206.44 million. During the same quarter in the previous year, the company posted ($0.21) earnings per share. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. Sell-side analysts expect that Myriad Genetics, Inc. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Jefferies Financial Group reiterated an “underperform” rating and issued a $20.00 target price (down previously from $25.00) on shares of Myriad Genetics in a research report on Monday, June 3rd. Scotiabank lifted their price objective on shares of Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 13th. Wells Fargo & Company assumed coverage on shares of Myriad Genetics in a report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 target price on the stock. Piper Sandler lifted their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Finally, TD Cowen increased their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Myriad Genetics presently has an average rating of “Hold” and an average price target of $28.60.

Institutional Investors Weigh In On Myriad Genetics

Several institutional investors have recently bought and sold shares of MYGN. Hexagon Capital Partners LLC increased its stake in Myriad Genetics by 75.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock valued at $28,000 after buying an additional 491 shares during the period. Innealta Capital LLC acquired a new position in shares of Myriad Genetics during the second quarter valued at approximately $36,000. Point72 DIFC Ltd bought a new stake in Myriad Genetics during the second quarter worth approximately $60,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Myriad Genetics in the second quarter worth approximately $82,000. Finally, Neo Ivy Capital Management bought a new position in Myriad Genetics during the 2nd quarter valued at $85,000. 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.