S. Louise Phanstiel Acquires 50,407 Shares of Myriad Genetics (NASDAQ:MYGN) Stock

Myriad Genetics, Inc. (NASDAQ:MYGN) Director S. Louise Phanstiel purchased 50,407 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were bought at an average cost of $4.80 per share, with a total value of $241,953.60. Following the completion of the acquisition, the director owned 233,951 shares of the company’s stock, valued at approximately $1,122,964.80. This trade represents a 27.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

S. Louise Phanstiel also recently made the following trade(s):

• On Friday, February 27th, S. Louise Phanstiel bought 48,000 shares of Myriad Genetics stock. The stock was purchased at an average cost of $4.66 per share, for a total transaction of $223,680.00.
• On Wednesday, February 25th, S. Louise Phanstiel bought 6,100 shares of Myriad Genetics stock. The shares were acquired at an average price of $4.74 per share, for a total transaction of $28,914.00.

Myriad Genetics Stock Performance

Shares of MYGN stock traded down $0.25 during trading hours on Friday, reaching $4.61. 2,121,107 shares of the company’s stock were exchanged, compared to its average volume of 1,197,196. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.49 and a quick ratio of 2.12. Myriad Genetics, Inc. has a 1 year low of $3.76 and a 1 year high of $11.44. The company has a market cap of $431.08 million, a P/E ratio of -1.17 and a beta of 1.90. The company’s 50 day moving average is $5.65 and its two-hundred day moving average is $6.60.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Monday, February 23rd. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.06. Myriad Genetics had a negative net margin of 44.38% and a negative return on equity of 6.35%. The company had revenue of $209.80 million for the quarter, compared to analyst estimates of $207.57 million. During the same period in the previous year, the firm earned $0.03 EPS. The business’s revenue was down .4% on a year-over-year basis. Equities research analysts anticipate that Myriad Genetics, Inc. will post -0.3 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on MYGN shares. Piper Sandler reduced their price target on shares of Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. UBS Group reduced their target price on shares of Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday. Wells Fargo & Company decreased their target price on shares of Myriad Genetics from $6.50 to $6.00 and set an “equal weight” rating on the stock in a research report on Tuesday. TD Cowen reiterated a “hold” rating on shares of Myriad Genetics in a research note on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Myriad Genetics in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.17.

Institutional Trading of Myriad Genetics

A number of institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in Myriad Genetics by 2,333.3% during the second quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company’s stock worth $25,000 after buying an additional 4,480 shares during the period. Quarry LP lifted its stake in shares of Myriad Genetics by 155.6% during the fourth quarter. Quarry LP now owns 4,365 shares of the company’s stock worth $27,000 after purchasing an additional 2,657 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of Myriad Genetics by 1,088.7% in the third quarter. Hantz Financial Services Inc. now owns 4,089 shares of the company’s stock valued at $30,000 after buying an additional 3,745 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Myriad Genetics by 407.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,773 shares of the company’s stock worth $31,000 after acquiring an additional 4,635 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of Myriad Genetics by 129.6% during the fourth quarter. Royal Bank of Canada now owns 4,993 shares of the company’s stock valued at $31,000 after purchasing an additional 2,818 shares during the period. Hedge funds and other institutional investors own 99.02% of the company’s stock.

About Myriad Genetics

Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual’s risk for various hereditary conditions and to guide personalized treatment decisions. The company’s core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women’s health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.