Myriad Genetics (NASDAQ:MYGN) Trading Up 6.4% – Still a Buy?

Myriad Genetics, Inc. (NASDAQ:MYGN)’s stock price traded up 6.4% during mid-day trading on Tuesday . The stock traded as high as $6.67 and last traded at $6.78. 504,466 shares traded hands during trading, a decline of 71% from the average session volume of 1,720,051 shares. The stock had previously closed at $6.37.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. UBS Group lowered their price target on shares of Myriad Genetics from $16.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Craig Hallum set a $18.00 price target on shares of Myriad Genetics and gave the stock a “buy” rating in a report on Wednesday, May 7th. Raymond James Financial reiterated an “outperform” rating and set a $10.00 price target (down from $19.00) on shares of Myriad Genetics in a report on Wednesday, May 7th. The Goldman Sachs Group lowered their price target on shares of Myriad Genetics from $14.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Finally, Scotiabank downgraded shares of Myriad Genetics from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $20.00 to $6.00 in a report on Wednesday, May 21st. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.45.

Myriad Genetics Stock Up 8.2%

The company has a market cap of $641.51 million, a P/E ratio of -1.61 and a beta of 1.92. The firm’s 50 day moving average is $5.29 and its two-hundred day moving average is $6.83.

Institutional Trading of Myriad Genetics

A number of institutional investors have recently bought and sold shares of the company. Jennison Associates LLC boosted its position in Myriad Genetics by 3.0% during the first quarter. Jennison Associates LLC now owns 60,811 shares of the company’s stock valued at $539,000 after acquiring an additional 1,796 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Myriad Genetics by 8.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,666 shares of the company’s stock valued at $126,000 after acquiring an additional 1,881 shares during the last quarter. Legal & General Group Plc boosted its position in Myriad Genetics by 1.0% during the second quarter. Legal & General Group Plc now owns 237,688 shares of the company’s stock valued at $1,262,000 after acquiring an additional 2,313 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Myriad Genetics by 41.4% during the second quarter. PNC Financial Services Group Inc. now owns 8,967 shares of the company’s stock valued at $48,000 after acquiring an additional 2,625 shares during the last quarter. Finally, Natixis Advisors LLC boosted its position in Myriad Genetics by 1.3% during the first quarter. Natixis Advisors LLC now owns 212,138 shares of the company’s stock valued at $1,882,000 after acquiring an additional 2,810 shares during the last quarter. Institutional investors own 99.02% of the company’s stock.

Myriad Genetics Company Profile

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.