Myriad Genetics (NASDAQ:MYGN) Shares Pass Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Myriad Genetics' share price has crossed above its 200-day moving average, trading at $7.99 while the average is $6.14, indicating positive momentum.
• The stock has a consensus rating of "Hold" from analysts, with four Buy ratings, nine Hold ratings, and two Sell ratings, and an average target price of $12.45.
• Recent institutional activity includes significant new positions and stake increases from firms like Federated Hermes Inc. and Nuveen LLC, with institutional investors now owning over 99% of the stock.

Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report)'s share price 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.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Myriad Genetics in a research report on Saturday, September 27th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $12.45.

Myriad Genetics Price Performance

The stock has a fifty day moving average price of $6.43 and a two-hundred day moving average price of $6.14. The company has a market cap of $743.39 million, a P/E ratio of -1.87 and a beta of 1.97.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Kent Lake PR LLC acquired a new position in shares of Myriad Genetics during the second quarter valued at $6,638,000. Nuveen LLC acquired a new position in Myriad Genetics during the 1st quarter valued at about $10,437,000. Federated Hermes Inc. increased its stake in Myriad Genetics by 103,916.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,122,333 shares of the company's stock valued at $5,960,000 after buying an additional 1,121,254 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Myriad Genetics during the 2nd quarter worth about $5,139,000. Finally, Glenview Capital Management LLC lifted its stake in shares of Myriad Genetics by 17.6% in the 2nd quarter. Glenview Capital Management LLC now owns 4,587,407 shares of the company's stock worth $24,359,000 after acquiring an additional 687,857 shares during the period. 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.

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