Myriad Genetics (NASDAQ:MYGN) Stock Passes Above 200 Day Moving Average – Time to Sell?

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.14 and traded as high as $8.25. Myriad Genetics shares last traded at $7.99, with a volume of 1,147,619 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Myriad Genetics in a report on Saturday, September 27th. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Myriad Genetics presently has a consensus rating of “Hold” and an average price target of $12.45.

Myriad Genetics Trading Down 0.9%

The business has a 50-day moving average price of $6.43 and a 200 day moving average price of $6.14. The company has a market cap of $743.39 million, a price-to-earnings ratio of -1.87 and a beta of 1.97.

Hedge Funds Weigh In On Myriad Genetics

A number of hedge funds and other institutional investors have recently modified their holdings of MYGN. Dynamic Technology Lab Private Ltd acquired a new stake in Myriad Genetics during the 1st quarter worth about $531,000. Graham Capital Management L.P. purchased a new position in shares of Myriad Genetics in the first quarter worth approximately $633,000. Blue Trust Inc. raised its holdings in shares of Myriad Genetics by 57.0% during the first quarter. Blue Trust Inc. now owns 14,367 shares of the company’s stock valued at $127,000 after acquiring an additional 5,214 shares during the period. GAMMA Investing LLC lifted its position in shares of Myriad Genetics by 520.8% in the 1st quarter. GAMMA Investing LLC now owns 4,470 shares of the company’s stock valued at $40,000 after acquiring an additional 3,750 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Myriad Genetics by 285.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 325,030 shares of the company’s stock worth $1,726,000 after purchasing an additional 240,643 shares during the period. Institutional investors and hedge funds own 99.02% of the company’s stock.

About Myriad Genetics

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.