Myriad Genetics (NASDAQ:MYGN) Sets New 12-Month Low – Should You Sell?

Myriad Genetics, Inc. (NASDAQ:MYGN)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $7.81 and last traded at $7.89, with a volume of 53125 shares changing hands. The stock had previously closed at $8.13.

Analyst Ratings Changes

A number of analysts have recently weighed in on MYGN shares. The Goldman Sachs Group cut their price target on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. StockNews.com downgraded Myriad Genetics from a “buy” rating to a “hold” rating in a report on Wednesday, April 2nd. UBS Group lowered their price target on Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Craig Hallum started coverage on Myriad Genetics in a research note on Wednesday, February 12th. They issued a “buy” rating and a $29.00 price objective on the stock. Finally, Stephens reissued an “equal weight” rating and set a $20.00 target price on shares of Myriad Genetics in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.89.

Myriad Genetics Stock Performance

The company has a market capitalization of $705.82 million, a price-to-earnings ratio of -5.95 and a beta of 1.87. The stock has a 50 day moving average of $11.07 and a 200 day moving average of $15.42. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). The firm had revenue of $210.60 million for the quarter, compared to the consensus estimate of $210.35 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. During the same period last year, the company posted ($0.12) EPS. As a group, analysts predict that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC grew its stake in shares of Myriad Genetics by 829.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company’s stock valued at $39,000 after buying an additional 2,556 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Myriad Genetics by 520.8% in the 1st quarter. GAMMA Investing LLC now owns 4,470 shares of the company’s stock worth $40,000 after purchasing an additional 3,750 shares in the last quarter. KBC Group NV grew its position in Myriad Genetics by 132.8% in the 4th 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. Inspire Advisors LLC raised its holdings in Myriad Genetics by 48.1% during the fourth quarter. Inspire Advisors LLC now owns 11,226 shares of the company’s stock worth $154,000 after buying an additional 3,644 shares during the last quarter. Finally, E Fund Management Co. Ltd. bought a new position in shares of Myriad Genetics in the fourth quarter valued at $161,000. 99.02% of the stock is 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.