Insider Buying: Myriad Genetics (NASDAQ:MYGN) Director Acquires $27,675.00 in Stock

Myriad Genetics, Inc. (NASDAQ:MYGN) Director Paul Bisaro bought 7,500 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $3.69 per share, with a total value of $27,675.00. Following the transaction, the director owned 97,441 shares of the company’s stock, valued at $359,557.29. The trade was a 8.34% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Myriad Genetics Price Performance

Shares of NASDAQ:MYGN opened at $3.58 on Friday. 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 has a fifty day moving average price of $4.65 and a 200 day moving average price of $5.69. Myriad Genetics, Inc. has a fifty-two week low of $3.57 and a fifty-two week high of $8.59. The firm has a market cap of $338.13 million, a price-to-earnings ratio of -0.83 and a beta of 1.81.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Myriad Genetics had a negative return on equity of 8.51% and a negative net margin of 48.24%.The company had revenue of $200.40 million for the quarter, compared to the consensus estimate of $202.42 million. During the same quarter in the prior year, the company posted ($0.03) EPS. Myriad Genetics’s revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that Myriad Genetics, Inc. will post -0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Myriad Genetics

Several hedge funds and other institutional investors have recently made changes to their positions in MYGN. Baird Financial Group Inc. purchased a new stake in shares of Myriad Genetics in the first quarter valued at $105,000. Royal Bank of Canada increased its stake in Myriad Genetics by 82.4% in the 1st quarter. Royal Bank of Canada now owns 33,326 shares of the company’s stock worth $296,000 after buying an additional 15,057 shares during the period. AQR Capital Management LLC increased its stake in Myriad Genetics by 278.9% in the 1st quarter. AQR Capital Management LLC now owns 433,392 shares of the company’s stock worth $3,844,000 after buying an additional 319,007 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Myriad Genetics by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 299,256 shares of the company’s stock worth $2,654,000 after acquiring an additional 14,027 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in Myriad Genetics by 1,076.9% during the 1st quarter. Jane Street Group LLC now owns 213,826 shares of the company’s stock worth $1,897,000 after acquiring an additional 195,658 shares in the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Myriad Genetics in a research note on Friday, March 27th. TD Cowen decreased their price target on shares of Myriad Genetics from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. Wells Fargo & Company decreased 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 research note on Wednesday, May 6th. Zacks Research raised shares of Myriad Genetics from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 26th. Finally, UBS Group decreased their price target on shares of Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Myriad Genetics currently has a consensus rating of “Hold” and an average target price of $6.40.

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.