Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) rose 6.4% during mid-day trading on Wednesday . The stock traded as high as $27.19 and last traded at $27.00, approximately 1,333,003 shares were traded during mid-day trading. An increase of 20% from the average daily volume of 1,106,872 shares. The stock had previously closed at $25.38.
MYGN has been the subject of several research reports. Cowen lowered Myriad Genetics from an “outperform” rating to a “market perform” rating and set a $26.64 price objective for the company. in a research note on Tuesday, July 9th. Deutsche Bank decreased their target price on Myriad Genetics from $45.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Bank of America raised Myriad Genetics from an “underperform” rating to a “neutral” rating in a research note on Friday, August 2nd. ValuEngine upgraded Myriad Genetics from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Barclays set a $22.00 price objective on Myriad Genetics and gave the company a “sell” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Myriad Genetics presently has a consensus rating of “Hold” and a consensus price target of $34.05.
The company has a market cap of $1.81 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 1.26 and a beta of 0.88. The company has a current ratio of 2.96, a quick ratio of 2.69 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $30.44 and its 200 day simple moving average is $29.30.
In other news, insider Bernard Tobin sold 11,712 shares of Myriad Genetics stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $40.00, for a total transaction of $468,480.00. Following the transaction, the insider now owns 146,040 shares in the company, valued at approximately $5,841,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Gary A. King sold 60,000 shares of Myriad Genetics stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $43.49, for a total value of $2,609,400.00. Following the transaction, the vice president now owns 164,871 shares in the company, valued at approximately $7,170,239.79. The disclosure for this sale can be found here. Insiders have sold 96,712 shares of company stock worth $4,115,380 in the last three months. 5.80% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Neuburgh Advisers LLC boosted its holdings in Myriad Genetics by 4.5% in the 2nd quarter. Neuburgh Advisers LLC now owns 7,040 shares of the company’s stock valued at $196,000 after purchasing an additional 304 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Myriad Genetics by 0.6% during the 1st quarter. New York State Teachers Retirement System now owns 50,798 shares of the company’s stock valued at $1,686,000 after buying an additional 307 shares during the period. Mason Street Advisors LLC raised its position in shares of Myriad Genetics by 1.4% during the 1st quarter. Mason Street Advisors LLC now owns 23,532 shares of the company’s stock valued at $781,000 after buying an additional 315 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in Myriad Genetics by 1.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 21,920 shares of the company’s stock worth $609,000 after acquiring an additional 380 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its holdings in shares of Myriad Genetics by 5.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,898 shares of the company’s stock worth $219,000 after purchasing an additional 400 shares during the period.
About Myriad Genetics (NASDAQ:MYGN)
Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.
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