Myriad Genetics (NASDAQ:MYGN) Shares Gap Up to $20.07

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN – Get Rating) gapped up prior to trading on Tuesday . The stock had previously closed at $20.07, but opened at $21.97. Myriad Genetics shares last traded at $22.53, with a volume of 112,759 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Stephens upped their price target on shares of Myriad Genetics from $17.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, March 6th. Raymond James increased their price objective on shares of Myriad Genetics from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, March 3rd. The Goldman Sachs Group upgraded shares of Myriad Genetics from a “sell” rating to a “buy” rating and increased their price objective for the stock from $18.00 to $25.00 in a research note on Tuesday. Finally, StockNews.com initiated coverage on shares of Myriad Genetics in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $26.60.

Myriad Genetics Trading Up 1.1 %

The business’s 50 day moving average price is $21.66 and its two-hundred day moving average price is $19.90. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -12.74 and a beta of 1.83.

Myriad Genetics (NASDAQ:MYGN – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Myriad Genetics had a negative net margin of 21.05% and a negative return on equity of 7.42%. The company had revenue of $181.20 million during the quarter, compared to analyst estimates of $171.56 million. During the same quarter in the previous year, the business posted ($0.14) earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Analysts expect that Myriad Genetics, Inc. will post -0.61 EPS for the current year.

Insider Activity

In other news, COO Nicole Lambert sold 6,433 shares of the firm’s stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $23.48, for a total value of $151,046.84. Following the sale, the chief operating officer now directly owns 240,506 shares in the company, valued at approximately $5,647,080.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MYGN. Royal Bank of Canada raised its holdings in Myriad Genetics by 29.0% in the 3rd quarter. Royal Bank of Canada now owns 2,339 shares of the company’s stock valued at $44,000 after buying an additional 526 shares during the last quarter. Natixis bought a new position in Myriad Genetics in the 4th quarter valued at approximately $44,000. Point72 Hong Kong Ltd raised its holdings in Myriad Genetics by 722.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,217 shares of the company’s stock valued at $58,000 after buying an additional 2,826 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Myriad Genetics by 99.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,654 shares of the company’s stock valued at $62,000 after buying an additional 1,326 shares during the last quarter. Finally, Boston Partners bought a new position in Myriad Genetics in the 4th quarter valued at approximately $64,000. Institutional investors own 99.08% of the company’s stock.

About Myriad Genetics

(Get Rating)

Myriad Genetics, Inc engages in the discovery, development, and marketing of transformative molecular diagnostic tests. It operates through the Diagnostics and Other segments. The Diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk of developing a disease later in life.