Myriad Genetics, Inc. (MYGN) Short Interest Down 10.7% in August
Myriad Genetics, Inc. (NASDAQ:MYGN) saw a significant decrease in short interest in August. As of August 15th, there was short interest totalling 18,843,047 shares, a decrease of 10.7% from the July 31st total of 21,112,099 shares. Based on an average daily trading volume, of 1,316,692 shares, the short-interest ratio is currently 14.3 days. Approximately 28.1% of the company’s shares are sold short.
Several hedge funds have recently added to or reduced their stakes in the stock. CS Mckee LP increased its stake in Myriad Genetics by 0.3% in the second quarter. CS Mckee LP now owns 30,000 shares of the company’s stock valued at $775,000 after buying an additional 100 shares during the period. Albert D Mason Inc. increased its stake in Myriad Genetics by 1.5% in the first quarter. Albert D Mason Inc. now owns 16,382 shares of the company’s stock valued at $315,000 after buying an additional 250 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in Myriad Genetics by 1.7% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 21,733 shares of the company’s stock valued at $417,000 after buying an additional 357 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in Myriad Genetics by 3.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,080 shares of the company’s stock valued at $416,000 after buying an additional 490 shares during the period. Finally, Aperio Group LLC increased its stake in Myriad Genetics by 4.6% in the second quarter. Aperio Group LLC now owns 12,129 shares of the company’s stock valued at $313,000 after buying an additional 534 shares during the period.
Shares of Myriad Genetics (MYGN) opened at 30.49 on Friday. The stock has a market cap of $2.09 billion, a PE ratio of 95.58 and a beta of 0.31. The stock’s 50 day moving average is $26.48 and its 200-day moving average is $22.23. Myriad Genetics has a 12-month low of $15.15 and a 12-month high of $30.73.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. The business had revenue of $200.50 million for the quarter, compared to the consensus estimate of $193.71 million. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. Equities analysts expect that Myriad Genetics will post $1.02 EPS for the current year.
A number of brokerages have weighed in on MYGN. BidaskClub upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Cowen and Company restated a “hold” rating and issued a $25.00 price objective on shares of Myriad Genetics in a report on Monday, August 14th. Barclays PLC cut their price objective on shares of Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 9th. Jefferies Group LLC restated a “hold” rating and issued a $23.00 price objective (up previously from $21.00) on shares of Myriad Genetics in a report on Thursday, August 10th. Finally, Deutsche Bank AG upgraded shares of Myriad Genetics from a “sell” rating to a “hold” rating and cut their price objective for the stock from $27.86 to $15.00 in a report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $21.22.
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Myriad Genetics Company Profile
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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