Myriad Genetics (NASDAQ:MYGN) Reaches New 1-Year Low - Time to Sell?

Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $7.16 and last traded at $7.51, with a volume of 2666846 shares traded. The stock had previously closed at $7.37.

Wall Street Analyst Weigh In

Several brokerages have commented on MYGN. Stephens reissued an "equal weight" rating and issued a $20.00 price target on shares of Myriad Genetics in a research report on Thursday, January 16th. Piper Sandler raised Myriad Genetics from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $11.50 to $12.50 in a research note on Wednesday, March 12th. Scotiabank lowered their price target on shares of Myriad Genetics from $24.00 to $20.00 and set a "sector outperform" rating for the company in a report on Tuesday, April 1st. Craig Hallum began coverage on Myriad Genetics in a research note on Wednesday, February 12th. They set a "buy" rating and a $29.00 target price for the company. Finally, UBS Group dropped their price target on shares of Myriad Genetics from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $20.61.

Myriad Genetics Trading Up 6.0 %

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The stock has a market capitalization of $696.81 million, a PE ratio of -5.82 and a beta of 1.87. The business's 50-day moving average is $8.89 and its two-hundred day moving average is $13.18.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). The firm had revenue of $210.60 million during the quarter, compared to analysts' expectations of $210.35 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. During the same period in the previous year, the firm earned ($0.12) EPS. As a group, equities research analysts anticipate that Myriad Genetics, Inc. will post -0.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MYGN. Sterling Capital Management LLC increased its holdings in Myriad Genetics by 829.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock valued at $39,000 after buying an additional 2,556 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Myriad Genetics by 520.8% in the first quarter. GAMMA Investing LLC now owns 4,470 shares of the company's stock valued at $40,000 after buying an additional 3,750 shares in the last quarter. KBC Group NV raised its stake in shares of Myriad Genetics by 132.8% during the 4th quarter. KBC Group NV now owns 5,845 shares of the company's stock worth $80,000 after buying an additional 3,334 shares during the last quarter. CWM LLC boosted its position in shares of Myriad Genetics by 600.2% in the 1st quarter. CWM LLC now owns 9,796 shares of the company's stock worth $87,000 after buying an additional 8,397 shares in the last quarter. Finally, M.E. Allison & CO. Inc. purchased a new position in shares of Myriad Genetics during the 1st quarter worth approximately $93,000. Hedge funds and other institutional investors own 99.02% of the company's stock.

Myriad Genetics Company Profile

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.