Myriad Genetics (NASDAQ:MYGN) Director S. Louise Phanstiel Buys 48,000 Shares

Myriad Genetics, Inc. (NASDAQ:MYGN) Director S. Louise Phanstiel acquired 48,000 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were acquired at an average cost of $4.66 per share, for a total transaction of $223,680.00. Following the completion of the transaction, the director directly owned 281,951 shares of the company’s stock, valued at $1,313,891.66. The trade was a 20.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

S. Louise Phanstiel also recently made the following trade(s):

• On Thursday, February 26th, S. Louise Phanstiel acquired 50,407 shares of Myriad Genetics stock. The shares were bought at an average price of $4.80 per share, for a total transaction of $241,953.60.
• On Wednesday, February 25th, S. Louise Phanstiel bought 6,100 shares of Myriad Genetics stock. The stock was bought at an average cost of $4.74 per share, with a total value of $28,914.00.

Myriad Genetics Stock Performance

MYGN traded down $0.25 during mid-day trading on Friday, reaching $4.61. 2,121,107 shares of the company traded hands, compared to its average volume of 1,197,196. The company’s fifty day moving average price is $5.65 and its 200-day moving average price is $6.60. The stock has a market capitalization of $431.08 million, a P/E ratio of -1.17 and a beta of 1.90. The company has a quick ratio of 2.12, a current ratio of 2.49 and a debt-to-equity ratio of 0.33. Myriad Genetics, Inc. has a 52-week low of $3.76 and a 52-week high of $11.44.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Monday, February 23rd. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. Myriad Genetics had a negative return on equity of 6.35% and a negative net margin of 44.38%.The business had revenue of $209.80 million during the quarter, compared to the consensus estimate of $207.57 million. During the same period in the previous year, the company posted $0.03 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. On average, sell-side analysts expect that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MYGN shares. UBS Group lowered their price target on shares of Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday. Piper Sandler lowered their price objective on Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Zacks Research cut Myriad Genetics from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Wells Fargo & Company decreased their price target on Myriad Genetics from $6.50 to $6.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, TD Cowen reaffirmed a “hold” rating on shares of Myriad Genetics in a research note on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.17.

Institutional Trading of Myriad Genetics

Several institutional investors and hedge funds have recently modified their holdings of MYGN. Assenagon Asset Management S.A. raised its position in Myriad Genetics by 301.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,304,163 shares of the company’s stock valued at $9,429,000 after purchasing an additional 979,133 shares during the period. Prudential Financial Inc. raised its holdings in shares of Myriad Genetics by 95.1% during the 2nd quarter. Prudential Financial Inc. now owns 342,684 shares of the company’s stock valued at $1,820,000 after buying an additional 167,023 shares during the period. XTX Topco Ltd raised its holdings in shares of Myriad Genetics by 1,240.7% during the 2nd quarter. XTX Topco Ltd now owns 284,357 shares of the company’s stock valued at $1,510,000 after buying an additional 263,147 shares during the period. Fisher Asset Management LLC lifted its position in Myriad Genetics by 20.4% during the 2nd quarter. Fisher Asset Management LLC now owns 1,294,822 shares of the company’s stock worth $6,876,000 after acquiring an additional 219,607 shares in the last quarter. Finally, Aberdeen Group plc boosted its holdings in Myriad Genetics by 178.3% in the 3rd quarter. Aberdeen Group plc now owns 639,053 shares of the company’s stock worth $4,620,000 after acquiring an additional 409,460 shares during the period. Institutional investors own 99.02% of the company’s stock.

About Myriad Genetics

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.