Key Points
- CEO Samraat Raha bought 40,000 shares on March 9 at an average price of $5.00, a $200,000 purchase that raised his stake to 493,104 shares (an 8.83% increase).
- Myriad reported quarterly EPS of $0.04 (beating estimates by $0.06) and revenue of $209.8M, but the company still shows a negative net margin (-44.38%) and negative ROE, while analysts maintain a consensus "Hold" rating with a $8.94 target.
- The stock opened at $4.81 (down ~6.6%), trades with a one‑year range of $3.76–$11.44, a market cap of about $450M, and a negative P/E (‑1.22), with ~99% of shares held by institutions.
Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) CEO Samraat Raha acquired 40,000 shares of the firm's stock in a transaction on Monday, March 9th. The stock was purchased at an average cost of $5.00 per share, with a total value of $200,000.00. Following the purchase, the chief executive officer owned 493,104 shares of the company's stock, valued at $2,465,520. The trade was a 8.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Myriad Genetics Trading Down 6.6%
MYGN opened at $4.81 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.26 and a current ratio of 2.49. The stock's 50 day moving average price is $5.44 and its 200-day moving average price is $6.58. Myriad Genetics, Inc. has a one year low of $3.76 and a one year high of $11.44. The stock has a market cap of $449.78 million, a price-to-earnings ratio of -1.22 and a beta of 1.91.
Myriad Genetics (NASDAQ:MYGN - Get Free Report) last issued its quarterly earnings results on Monday, February 23rd. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.06. Myriad Genetics had a negative return on equity of 6.35% and a negative net margin of 44.38%.The firm had revenue of $209.80 million during the quarter, compared to analyst estimates of $207.57 million. During the same period last year, the company earned $0.03 EPS. Myriad Genetics's quarterly revenue was down .4% compared to the same quarter last year. On average, equities analysts forecast that Myriad Genetics, Inc. will post -0.3 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on MYGN. Zacks Research raised shares of Myriad Genetics from a "strong sell" rating to a "hold" rating in a research note on Thursday, February 26th. Piper Sandler reduced their price target on shares of Myriad Genetics from $9.00 to $8.50 and set an "overweight" rating on the stock in a research note on Tuesday, November 11th. Wells Fargo & Company decreased their price objective on shares of Myriad Genetics from $6.50 to $6.00 and set an "equal weight" rating for the company in a report on Tuesday, February 24th. UBS Group dropped their target price on shares of Myriad Genetics from $8.00 to $6.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 24th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Myriad Genetics in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $8.94.
Read Our Latest Report on MYGN
Institutional Trading of Myriad Genetics
Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC raised its holdings in shares of Myriad Genetics by 41.1% in the 4th quarter. Millennium Management LLC now owns 6,700,158 shares of the company's stock valued at $41,206,000 after purchasing an additional 1,951,831 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Myriad Genetics by 157.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,442,912 shares of the company's stock valued at $17,662,000 after purchasing an additional 1,492,405 shares in the last quarter. Kent Lake PR LLC bought a new position in shares of Myriad Genetics during the second quarter valued at approximately $6,638,000. Federated Hermes Inc. increased its holdings in Myriad Genetics by 103,916.0% during the second quarter. Federated Hermes Inc. now owns 1,122,333 shares of the company's stock valued at $5,960,000 after buying an additional 1,121,254 shares during the period. Finally, State Street Corp raised its stake in Myriad Genetics by 19.9% in the fourth quarter. State Street Corp now owns 5,966,567 shares of the company's stock worth $36,694,000 after buying an additional 990,075 shares in the last quarter. 99.02% of the stock is currently owned by institutional investors.
About Myriad Genetics
(
Get Free Report)
Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual's risk for various hereditary conditions and to guide personalized treatment decisions. The company's core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women's health, neurology and pharmacogenomics to support more informed clinical decision-making.
Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.
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