Key Points
- Myriad Genetics director Rashmi Kumar sold 15,000 shares on June 8 at an average price of $4.46, totaling about $66,900. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Kumar still directly owned 171,889 shares, valued at roughly $766,625, which marked an 8.03% decrease in her stake.
- Myriad Genetics recently reported earnings that missed analyst expectations, posting a loss of $0.09 per share versus the expected $0.06 loss. Revenue came in slightly below estimates at $200.4 million, while analysts currently rate the stock a Hold with an average target price of $6.50.
Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) Director Rashmi Kumar sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $4.46, for a total transaction of $66,900.00. Following the transaction, the director directly owned 171,889 shares in the company, valued at approximately $766,624.94. This trade represents a 8.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Myriad Genetics Price Performance
NASDAQ MYGN opened at $4.54 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.19 and a current ratio of 2.40. The firm's 50 day moving average price is $4.42 and its 200-day moving average price is $5.33. Myriad Genetics, Inc. has a 52-week low of $3.53 and a 52-week high of $8.59. The company has a market cap of $428.80 million, a PE ratio of -1.06 and a beta of 1.73.
Myriad Genetics (NASDAQ:MYGN - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The company had revenue of $200.40 million for the quarter, compared to the consensus estimate of $202.42 million. Myriad Genetics had a negative net margin of 48.24% and a negative return on equity of 8.51%. The firm's revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted ($0.03) EPS. Sell-side analysts forecast that Myriad Genetics, Inc. will post -0.17 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. UBS Group decreased their price objective on Myriad Genetics from $8.00 to $6.00 and set a "neutral" rating for the company in a research note on Tuesday, February 24th. Zacks Research raised shares of Myriad Genetics from a "strong sell" rating to a "hold" rating in a report on Thursday, February 26th. Wells Fargo & Company cut their price target on shares of Myriad Genetics from $6.00 to $5.50 and set an "equal weight" rating on the stock in a report on Wednesday, May 6th. TD Cowen lowered their price objective on shares of Myriad Genetics from $7.00 to $6.00 and set a "hold" rating for the company in a research note on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Myriad Genetics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $6.50.
View Our Latest Report on MYGN
Institutional Investors Weigh In On Myriad Genetics
Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Myriad Genetics by 2,333.3% during the second quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company's stock worth $25,000 after buying an additional 4,480 shares during the period. Quarry LP lifted its stake in shares of Myriad Genetics by 155.6% during the fourth quarter. Quarry LP now owns 4,365 shares of the company's stock worth $27,000 after buying an additional 2,657 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of Myriad Genetics by 1,088.7% during the third quarter. Hantz Financial Services Inc. now owns 4,089 shares of the company's stock worth $30,000 after buying an additional 3,745 shares during the period. Royal Bank of Canada lifted its stake in shares of Myriad Genetics by 129.6% during the fourth quarter. Royal Bank of Canada now owns 4,993 shares of the company's stock worth $31,000 after buying an additional 2,818 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Myriad Genetics during the second quarter valued at $37,000. 99.02% of the stock is currently owned by institutional investors and hedge funds.
Myriad Genetics Company Profile
(
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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