Myriad Genetics (NASDAQ:MYGN) Sets New 1-Year Low – Time to Sell?

Myriad Genetics, Inc. (NASDAQ:MYGN)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $12.13 and last traded at $12.17, with a volume of 122639 shares traded. The stock had previously closed at $12.28.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MYGN shares. UBS Group assumed coverage on Myriad Genetics in a research note on Tuesday, December 10th. They set a “neutral” rating and a $18.00 price target for the company. Leerink Partnrs downgraded Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. Bank of America reduced their price target on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a research report on Friday, December 13th. Leerink Partners lowered shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $30.00 to $21.00 in a research report on Monday, December 9th. Finally, Stephens restated an “equal weight” rating and set a $20.00 price objective on shares of Myriad Genetics in a research report on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $23.92.

Myriad Genetics Stock Up 0.5 %

The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The company has a 50-day simple moving average of $14.34 and a 200 day simple moving average of $21.46. The company has a market cap of $1.17 billion, a P/E ratio of -9.86 and a beta of 1.89.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The company had revenue of $213.30 million during the quarter, compared to the consensus estimate of $209.82 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. On average, equities analysts anticipate that Myriad Genetics, Inc. will post -0.28 EPS for the current year.

Institutional Investors Weigh In On Myriad Genetics

A number of institutional investors and hedge funds have recently bought and sold shares of MYGN. GAMMA Investing LLC grew its position 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. Atria Investments Inc grew its holdings in Myriad Genetics by 5.4% during the 3rd quarter. Atria Investments Inc now owns 11,414 shares of the company’s stock worth $313,000 after acquiring an additional 581 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Myriad Genetics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock valued at $87,000 after purchasing an additional 583 shares during the period. Creative Planning raised its holdings in shares of Myriad Genetics by 9.8% in the 3rd quarter. Creative Planning now owns 9,949 shares of the company’s stock valued at $273,000 after purchasing an additional 892 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Myriad Genetics in the 3rd quarter worth approximately $32,000. 99.02% of the stock is owned by institutional investors.

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.