Insider Buying: Myriad Genetics (NASDAQ:MYGN) Director Acquires 6,100 Shares of Stock

Myriad Genetics, Inc. (NASDAQ:MYGN) Director S. Louise Phanstiel bought 6,100 shares of the stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average price of $4.74 per share, with a total value of $28,914.00. Following the completion of the purchase, the director owned 183,544 shares of the company’s stock, valued at $869,998.56. This represents a 3.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, February 27th, S. Louise Phanstiel acquired 48,000 shares of Myriad Genetics stock. The shares were bought at an average cost of $4.66 per share, for a total transaction of $223,680.00.
• On Thursday, February 26th, S. Louise Phanstiel acquired 50,407 shares of Myriad Genetics stock. The stock was bought at an average price of $4.80 per share, with a total value of $241,953.60.

Myriad Genetics Price Performance

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

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.06. Myriad Genetics had a negative net margin of 44.38% and a negative return on equity of 6.35%. The firm had revenue of $209.80 million during the quarter, compared to analysts’ expectations of $207.57 million. During the same quarter in the previous year, the company posted $0.03 EPS. Myriad Genetics’s revenue was down .4% on a year-over-year basis. Sell-side analysts forecast that Myriad Genetics, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

MYGN has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Myriad Genetics from $6.50 to $6.00 and set an “equal weight” rating for the company in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Myriad Genetics in a research note on Monday, December 29th. Piper Sandler cut their price target on shares of Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. TD Cowen restated a “hold” rating on shares of Myriad Genetics in a report on Tuesday, November 4th. Finally, UBS Group lowered their target price on shares of Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Myriad Genetics presently has an average rating of “Hold” and an average price target of $9.17.

Institutional Trading of Myriad Genetics

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Myriad Genetics by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 8,225,371 shares of the company’s stock worth $50,586,000 after buying an additional 342,856 shares during the period. Millennium Management LLC boosted its holdings in shares of Myriad Genetics by 41.1% in the fourth quarter. Millennium Management LLC now owns 6,700,158 shares of the company’s stock valued at $41,206,000 after buying an additional 1,951,831 shares during the period. State Street Corp increased its position in shares of Myriad Genetics by 19.9% during the fourth quarter. State Street Corp now owns 5,966,567 shares of the company’s stock worth $36,694,000 after acquiring an additional 990,075 shares in the last quarter. Glenview Capital Management LLC raised its holdings in shares of Myriad Genetics by 17.6% during the second quarter. Glenview Capital Management LLC now owns 4,587,407 shares of the company’s stock worth $24,359,000 after acquiring an additional 687,857 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in Myriad Genetics by 157.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,442,912 shares of the company’s stock valued at $17,662,000 after acquiring an additional 1,492,405 shares in the last quarter. 99.02% of the stock is owned by institutional investors.

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.