Myriad Genetics (NASDAQ:MYGN) Hits New 12-Month Low – Time to Sell?

Myriad Genetics, Inc. (NASDAQ:MYGN)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $9.72 and last traded at $9.89, with a volume of 202849 shares traded. The stock had previously closed at $10.18.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MYGN shares. Stephens reiterated an “equal weight” rating and issued a $20.00 target price on shares of Myriad Genetics in a research report on Thursday, January 16th. Raymond James restated an “outperform” rating and issued a $19.00 price target (down from $27.00) on shares of Myriad Genetics in a research report on Tuesday, February 25th. The Goldman Sachs Group lowered their price objective on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Craig Hallum initiated coverage on shares of Myriad Genetics in a report on Wednesday, February 12th. They issued a “buy” rating and a $29.00 target price on the stock. Finally, UBS Group lowered their target price on Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Myriad Genetics has a consensus rating of “Hold” and an average price target of $21.82.

Myriad Genetics Stock Performance

The company has a fifty day moving average price of $12.95 and a two-hundred day moving average price of $18.29. The firm has a market cap of $876.57 million, a price-to-earnings ratio of -7.38 and a beta of 1.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12). The business had revenue of $210.60 million during the quarter, compared to analyst estimates of $210.35 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same period in the prior year, the firm earned ($0.12) EPS. As a group, equities research analysts expect that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Institutional Trading of Myriad Genetics

A number of hedge funds have recently bought and sold shares of MYGN. Point72 Hong Kong Ltd purchased a new stake in shares of Myriad Genetics in the 3rd quarter valued at approximately $32,000. Sterling Capital Management LLC lifted its holdings 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 boosted its position in Myriad Genetics by 132.8% during the fourth quarter. KBC Group NV now owns 5,845 shares of the company’s stock worth $80,000 after purchasing an additional 3,334 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its holdings in Myriad Genetics by 43.8% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock valued at $132,000 after purchasing an additional 1,471 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of Myriad Genetics by 588.4% in the third quarter. Meeder Asset Management Inc. now owns 4,922 shares of the company’s stock valued at $135,000 after purchasing an additional 4,207 shares during the period. 99.02% of the stock is owned by hedge funds and other 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.