Piper Sandler Has Lowered Expectations for Myriad Genetics (NASDAQ:MYGN) Stock Price

Myriad Genetics (NASDAQ:MYGN) had its price target cut by Piper Sandler from $30.00 to $24.00 in a research report released on Monday,Benzinga reports. They currently have a neutral rating on the stock.

MYGN has been the topic of a number of other reports. Morgan Stanley assumed coverage on Myriad Genetics in a research report on Thursday, September 19th. They set an “equal weight” rating and a $32.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. TD Cowen upped their target price on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Wells Fargo & Company assumed coverage on shares of Myriad Genetics in a report on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 target price for the company. Finally, Scotiabank increased their target price on Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $28.36.

Myriad Genetics Trading Down 0.6 %

NASDAQ:MYGN opened at $15.68 on Monday. The firm has a market cap of $1.43 billion, a P/E ratio of -12.06 and a beta of 1.93. The stock’s 50 day simple moving average is $23.66 and its 200-day simple moving average is $24.63. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. Myriad Genetics has a 12-month low of $15.53 and a 12-month high of $29.30.

Insider Buying and Selling

In related news, CEO Paul J. Diaz sold 15,000 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $22.93, for a total transaction of $343,950.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Colleen F. Reitan sold 46,012 shares of Myriad Genetics stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total value of $1,286,035.40. Following the transaction, the director now directly owns 42,533 shares in the company, valued at approximately $1,188,797.35. This trade represents a 51.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,012 shares of company stock valued at $1,900,485 over the last three months. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Myriad Genetics

Several hedge funds and other institutional investors have recently modified their holdings of MYGN. Hexagon Capital Partners LLC grew its holdings in Myriad Genetics by 75.3% during the second 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 last quarter. Point72 Hong Kong Ltd acquired a new stake in Myriad Genetics in the 3rd quarter valued at $32,000. Innealta Capital LLC acquired a new position in shares of Myriad Genetics in the 2nd quarter worth approximately $36,000. GAMMA Investing LLC lifted its stake in shares of Myriad Genetics by 34.1% during the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after acquiring an additional 412 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in shares of Myriad Genetics during the 2nd quarter worth approximately $60,000. 99.02% of the stock is currently owned by hedge funds and other 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.