Myriad Genetics (NASDAQ:MYGN) Shares Down 6% – Time to Sell?

Myriad Genetics, Inc. (NASDAQ:MYGN) fell 6% on Tuesday . The stock traded as low as $13.41 and last traded at $13.42. 199,721 shares were traded during mid-day trading, a decline of 75% from the average session volume of 815,009 shares. The stock had previously closed at $14.28.

Analyst Ratings Changes

MYGN has been the subject of a number of recent analyst reports. StockNews.com upgraded Myriad Genetics from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Stephens reaffirmed an “equal weight” rating and set a $20.00 target price on shares of Myriad Genetics in a research note on Thursday. Bank of America decreased their price target on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating for the company in a research note on Friday, December 13th. Piper Sandler cut their price objective on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Finally, Morgan Stanley decreased their target price on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.92.

Myriad Genetics Trading Down 4.8 %

The firm has a 50-day moving average price of $14.89 and a 200-day moving average price of $22.04. The stock has a market cap of $1.14 billion, a PE ratio of -9.63 and a beta of 1.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90.

Hedge Funds Weigh In On Myriad Genetics

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Myriad Genetics by 34.1% in the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock worth $44,000 after acquiring an additional 412 shares during the period. Atria Investments Inc grew its stake in shares of Myriad Genetics by 5.4% during the 3rd quarter. Atria Investments Inc now owns 11,414 shares of the company’s stock valued at $313,000 after purchasing an additional 581 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Myriad Genetics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock valued at $87,000 after purchasing an additional 583 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Myriad Genetics by 1.5% in the 2nd quarter. Federated Hermes Inc. now owns 56,807 shares of the company’s stock worth $1,389,000 after purchasing an additional 846 shares during the period. Finally, Creative Planning boosted its holdings in shares of Myriad Genetics by 9.8% in the third quarter. Creative Planning now owns 9,949 shares of the company’s stock worth $273,000 after buying an additional 892 shares during the last quarter. 99.02% of the stock is owned by institutional investors.

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.