Key Points
- Director Paul Bisaro bought 7,500 shares of Myriad Genetics at $3.69 each, spending $27,675 and increasing his stake by 8.34% to 97,441 shares.
- Myriad Genetics stock was trading down 2.9% near its 12-month low of $3.62, with the company carrying a market cap of about $341.9 million and a negative earnings profile.
- The company recently reported Q1 earnings of -$0.09 per share, missing estimates, while analysts currently rate the stock a consensus Hold with a $6.40 price target.
Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) Director Paul Bisaro purchased 7,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $3.69 per share, for a total transaction of $27,675.00. Following the acquisition, the director directly owned 97,441 shares in the company, valued at $359,557.29. This trade represents a 8.34% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Myriad Genetics Trading Down 2.9%
NASDAQ:MYGN opened at $3.62 on Friday. The company has a current ratio of 2.40, a quick ratio of 2.19 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $341.91 million, a PE ratio of -0.84 and a beta of 1.81. The firm's 50 day moving average is $4.68 and its 200 day moving average is $5.70. Myriad Genetics, Inc. has a 12 month low of $3.62 and a 12 month high of $8.59.
Myriad Genetics (NASDAQ:MYGN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.03). The company had revenue of $200.40 million during the quarter, compared to the consensus estimate of $202.42 million. Myriad Genetics had a negative return on equity of 8.51% and a negative net margin of 48.24%.The company's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) EPS. Sell-side analysts expect that Myriad Genetics, Inc. will post -0.32 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of MYGN. EverSource Wealth Advisors LLC grew its stake in Myriad Genetics by 2,333.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company's stock valued at $25,000 after buying an additional 4,480 shares in the last quarter. Quarry LP grew its stake in Myriad Genetics by 155.6% in the 4th quarter. Quarry LP now owns 4,365 shares of the company's stock valued at $27,000 after buying an additional 2,657 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Myriad Genetics by 1,088.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 4,089 shares of the company's stock valued at $30,000 after buying an additional 3,745 shares in the last quarter. Royal Bank of Canada grew its stake in Myriad Genetics by 129.6% in the 4th quarter. Royal Bank of Canada now owns 4,993 shares of the company's stock valued at $31,000 after buying an additional 2,818 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Myriad Genetics in the 2nd quarter valued at approximately $37,000. 99.02% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. TD Cowen lowered their price target on shares of Myriad Genetics from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Wednesday, May 6th. UBS Group lowered their price target on shares of Myriad Genetics from $8.00 to $6.00 and set a "neutral" rating on the stock in a report on Tuesday, February 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Myriad Genetics in a report on Friday, March 27th. Zacks Research raised shares of Myriad Genetics from a "strong sell" rating to a "hold" rating in a report on Thursday, February 26th. Finally, Wells Fargo & Company reduced their price objective on shares of Myriad Genetics from $6.00 to $5.50 and set an "equal weight" rating for the company in a research note on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Myriad Genetics presently has an average rating of "Hold" and a consensus price target of $6.40.
Get Our Latest Stock Analysis on Myriad Genetics
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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