Myriad Genetics, Inc. (NASDAQ:MYGN) Short Interest Down 17.6% in November

Myriad Genetics, Inc. (NASDAQ:MYGN) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 3,690,000 shares, a decline of 17.6% from the October 31st total of 4,480,000 shares. Based on an average daily trading volume, of 811,700 shares, the short-interest ratio is currently 4.5 days.

Insider Transactions at Myriad Genetics

In related news, Director Heinrich Dreismann sold 10,000 shares of Myriad Genetics stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $27.05, for a total transaction of $270,500.00. Following the sale, the director now directly owns 121,648 shares of the company’s stock, valued at approximately $3,290,578.40. The trade was a 7.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Paul J. Diaz sold 15,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 962,378 shares of the company’s stock, valued at approximately $22,067,327.54. The trade was a 1.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,012 shares of company stock valued at $1,900,485. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Myriad Genetics

Institutional investors have recently bought and sold shares of the company. Hexagon Capital Partners LLC lifted its stake in shares of Myriad Genetics by 75.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock valued at $28,000 after purchasing an additional 491 shares during the period. Point72 Hong Kong Ltd bought a new stake in Myriad Genetics in the third quarter worth approximately $32,000. Innealta Capital LLC acquired a new position in Myriad Genetics in the second quarter valued at approximately $36,000. GAMMA Investing LLC boosted its holdings in shares of Myriad Genetics by 34.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock worth $44,000 after buying an additional 412 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Myriad Genetics during the 2nd quarter worth approximately $60,000. Institutional investors own 99.02% of the company’s stock.

Myriad Genetics Trading Down 0.1 %

NASDAQ:MYGN opened at $16.27 on Monday. Myriad Genetics has a 52 week low of $14.72 and a 52 week high of $29.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The firm’s fifty day moving average is $21.06 and its 200-day moving average is $24.17. The firm has a market cap of $1.48 billion, a P/E ratio of -12.52 and a beta of 1.93.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com cut Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Scotiabank increased their target price 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. TD Cowen boosted their price target on Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Morgan Stanley lowered their price objective on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Finally, Piper Sandler cut their target price on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.36.

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.