Daniel K. Spiegelman Sells 6,424 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) Stock

Myriad Genetics, Inc. (NASDAQ:MYGNGet Rating) Director Daniel K. Spiegelman sold 6,424 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $19.25, for a total transaction of $123,662.00. Following the completion of the transaction, the director now owns 33,980 shares in the company, valued at $654,115. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of MYGN stock traded down $0.57 on Monday, reaching $18.72. The company had a trading volume of 526,455 shares, compared to its average volume of 544,244. The stock has a market capitalization of $1.50 billion, a PE ratio of -156.00 and a beta of 1.57. Myriad Genetics, Inc. has a one year low of $18.41 and a one year high of $36.95. The business’s 50-day moving average is $22.21 and its 200 day moving average is $24.58.

Myriad Genetics (NASDAQ:MYGNGet Rating) last posted its earnings results on Thursday, May 5th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The firm had revenue of $164.90 million during the quarter, compared to analysts’ expectations of $156.09 million. Myriad Genetics had a negative net margin of 1.20% and a negative return on equity of 2.75%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.16) earnings per share. On average, sell-side analysts forecast that Myriad Genetics, Inc. will post -0.32 earnings per share for the current year.

MYGN has been the subject of several recent analyst reports. StockNews.com cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Monday, May 30th. The Goldman Sachs Group cut their price objective on shares of Myriad Genetics from $26.00 to $23.00 and set a “sell” rating for the company in a research report on Tuesday, April 19th.

Hedge funds have recently bought and sold shares of the company. GHP Investment Advisors Inc. bought a new position in shares of Myriad Genetics in the first quarter worth about $27,000. Exchange Traded Concepts LLC bought a new position in Myriad Genetics in the 1st quarter valued at approximately $29,000. Rockefeller Capital Management L.P. raised its holdings in Myriad Genetics by 209.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,238 shares of the company’s stock valued at $39,000 after buying an additional 838 shares during the last quarter. Spire Wealth Management bought a new position in Myriad Genetics in the 4th quarter valued at approximately $48,000. Finally, Itau Unibanco Holding S.A. bought a new position in Myriad Genetics in the 4th quarter valued at approximately $81,000. 97.44% of the stock is owned by hedge funds and other institutional investors.

About Myriad Genetics (Get Rating)

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops and commercializes genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and mental health applications. It 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, or 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.

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