Myriad Genetics (NASDAQ:MYGN) CEO Purchases $200,000.00 in Stock

Myriad Genetics, Inc. (NASDAQ:MYGN) CEO Samraat Raha acquired 40,000 shares of the stock in a transaction dated Monday, March 9th. The stock was bought at an average price of $5.00 per share, for a total transaction of $200,000.00. Following the completion of the purchase, the chief executive officer owned 493,104 shares in the company, valued at approximately $2,465,520. This trade represents a 8.83% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Myriad Genetics Price Performance

NASDAQ:MYGN traded down $0.34 on Monday, reaching $4.81. The stock had a trading volume of 3,306,909 shares, compared to its average volume of 1,298,071. The company has a market capitalization of $449.78 million, a P/E ratio of -1.22 and a beta of 1.91. Myriad Genetics, Inc. has a 1-year low of $3.76 and a 1-year high of $11.44. The stock has a fifty day moving average price of $5.47 and a 200-day moving average price of $6.58. The company has a quick ratio of 2.26, a current ratio of 2.49 and a debt-to-equity ratio of 0.33.

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

Institutional Investors Weigh In On Myriad Genetics

A number of large investors have recently added to or reduced their stakes in MYGN. Baird Financial Group Inc. acquired a new position in shares of Myriad Genetics in the first quarter valued at approximately $105,000. Royal Bank of Canada boosted its position in shares of Myriad Genetics by 82.4% in the first quarter. Royal Bank of Canada now owns 33,326 shares of the company’s stock valued at $296,000 after acquiring an additional 15,057 shares during the period. AQR Capital Management LLC increased its position in Myriad Genetics by 278.9% during the first quarter. AQR Capital Management LLC now owns 433,392 shares of the company’s stock worth $3,844,000 after acquiring an additional 319,007 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Myriad Genetics by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 299,256 shares of the company’s stock worth $2,654,000 after purchasing an additional 14,027 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of Myriad Genetics by 1,076.9% during the 1st quarter. Jane Street Group LLC now owns 213,826 shares of the company’s stock worth $1,897,000 after purchasing an additional 195,658 shares in the last quarter. Institutional investors own 99.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MYGN. Zacks Research upgraded shares of Myriad Genetics from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 26th. Piper Sandler cut their target price 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. Wells Fargo & Company dropped their price objective on Myriad Genetics from $6.50 to $6.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Myriad Genetics in a report on Monday, December 29th. Finally, UBS Group cut their price target on shares of Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.94.

Myriad Genetics Company Profile

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.