Myriad Genetics, Inc. (NASDAQ:MYGN – Get Free Report) saw some unusual options trading on Tuesday. Investors purchased 5,030 call options on the company. This represents an increase of 4,023% compared to the average daily volume of 122 call options.
Myriad Genetics Price Performance
Shares of Myriad Genetics stock traded up $1.54 during trading hours on Tuesday, hitting $5.75. The company’s stock had a trading volume of 15,484,983 shares, compared to its average volume of 1,814,912. The business has a 50 day moving average price of $3.68 and a two-hundred day moving average price of $4.36. Myriad Genetics has a 12-month low of $2.74 and a 12-month high of $8.50. The company has a market cap of $550.47 million, a PE ratio of -4.84 and a beta of 1.64. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.21.
Myriad Genetics (NASDAQ:MYGN – Get Free Report) last released its earnings results on Thursday, July 30th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.19). Myriad Genetics had a negative return on equity of 16.09% and a negative net margin of 13.96%. The business had revenue of $190.70 million for the quarter, compared to analysts’ expectations of $206.03 million. During the same quarter in the prior year, the business posted $0.05 EPS. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. Analysts expect that Myriad Genetics will post -0.99 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research firms recently issued reports on MYGN. Zacks Research raised shares of Myriad Genetics from a “strong sell” rating to a “hold” rating in a report on Thursday, October 15th. Craig Hallum lifted their price target on shares of Myriad Genetics from $4.00 to $8.00 and gave the company a “buy” rating in a report on Friday, October 2nd. Weiss Ratings upgraded shares of Myriad Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, October 12th. Wall Street Zen cut shares of Myriad Genetics from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, UBS Group initiated coverage on shares of Myriad Genetics in a research report on Wednesday, September 9th. They set a “neutral” rating and a $3.60 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $4.02.
Check Out Our Latest Analysis on MYGN
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MYGN. Orbimed Advisors LLC purchased a new stake in Myriad Genetics during the 1st quarter valued at approximately $562,500,000. BlackRock Inc. bought a new stake in shares of Myriad Genetics during the second quarter valued at approximately $62,184,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Myriad Genetics in the second quarter worth $8,039,000. Man Group plc purchased a new position in shares of Myriad Genetics in the second quarter worth $5,189,000. Finally, Bank of America Corp DE purchased a new position in shares of Myriad Genetics in the second quarter worth $5,150,000. 99.02% of the stock is currently owned by institutional investors.
Myriad Genetics Company Profile
Myriad Genetics, Inc is a molecular diagnostics company that develops and provides genetic tests designed to help healthcare professionals assess disease risk, guide treatment decisions and support patient care. The company serves physicians, hospitals, health systems, biopharmaceutical companies and patients, with a focus on areas including oncology, women’s health and mental health.
Its portfolio includes hereditary cancer testing, such as the MyRisk Hereditary Cancer test; tumor profiling and companion diagnostic services used to help inform cancer treatment; prenatal and carrier screening tests, including Prequel and Foresight; and pharmacogenomic testing, including GeneSight, which is intended to help clinicians evaluate how a patient may respond to certain psychiatric medications.
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