StockNews.com Downgrades Myriad Genetics (NASDAQ:MYGN) to Hold

Myriad Genetics (NASDAQ:MYGN) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Other analysts also recently issued research reports about the stock. Morgan Stanley decreased their price objective on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. UBS Group assumed coverage on Myriad Genetics in a report on Tuesday, December 10th. They set a “neutral” rating and a $18.00 price objective for the company. Piper Sandler decreased their target price on Myriad Genetics from $24.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Craig Hallum started coverage on Myriad Genetics in a research report on Wednesday, February 12th. They issued a “buy” rating and a $29.00 price target for the company. Finally, Leerink Partnrs lowered shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Myriad Genetics has an average rating of “Hold” and an average price target of $22.54.

Myriad Genetics Stock Performance

NASDAQ MYGN traded up $0.08 on Thursday, hitting $14.98. 1,218,553 shares of the company’s stock were exchanged, compared to its average volume of 1,094,211. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The firm’s 50-day moving average price is $13.46 and its two-hundred day moving average price is $19.65. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -11.52 and a beta of 1.88. Myriad Genetics has a fifty-two week low of $12.04 and a fifty-two week high of $29.30.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MYGN. Point72 Hong Kong Ltd acquired a new stake in shares of Myriad Genetics in the 3rd quarter worth about $32,000. Sterling Capital Management LLC grew its position in Myriad Genetics by 829.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company’s stock worth $39,000 after purchasing an additional 2,556 shares during the last quarter. KBC Group NV increased its stake in shares of Myriad Genetics by 132.8% in the fourth quarter. KBC Group NV now owns 5,845 shares of the company’s stock valued at $80,000 after purchasing an additional 3,334 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Myriad Genetics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock valued at $87,000 after buying an additional 583 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Myriad Genetics by 43.8% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock worth $132,000 after buying an additional 1,471 shares during the period. 99.02% of the stock is currently owned by institutional investors.

About Myriad Genetics

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.