Paul Bisaro Purchases 7,500 Shares of Myriad Genetics (NASDAQ:MYGN) Stock

Myriad Genetics, Inc. (NASDAQ:MYGN) Director Paul Bisaro purchased 7,500 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $3.69 per share, for a total transaction of $27,675.00. Following the completion of the acquisition, the director directly owned 97,441 shares of the company’s stock, valued at approximately $359,557.29. The trade was a 8.34% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Myriad Genetics Price Performance

NASDAQ MYGN opened at $3.58 on Friday. The firm’s fifty day simple moving average is $4.65 and its two-hundred day simple moving average is $5.69. The company has a current ratio of 2.40, a quick ratio of 2.19 and a debt-to-equity ratio of 0.36. Myriad Genetics, Inc. has a 12-month low of $3.57 and a 12-month high of $8.59. The firm has a market capitalization of $338.12 million, a P/E ratio of -0.83 and a beta of 1.81.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Myriad Genetics had a negative return on equity of 8.51% and a negative net margin of 48.24%.The firm had revenue of $200.40 million during the quarter, compared to analysts’ expectations of $202.42 million. During the same period in the prior year, the firm posted ($0.03) earnings per share. Myriad Genetics’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts forecast that Myriad Genetics, Inc. will post -0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on MYGN. TD Cowen lowered their price objective on shares of Myriad Genetics from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. UBS Group lowered their price objective on shares of Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Myriad Genetics in a research note on Friday, March 27th. Zacks Research upgraded shares of Myriad Genetics from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 26th. Finally, Wells Fargo & Company lowered their price objective on shares of Myriad Genetics from $6.00 to $5.50 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Myriad Genetics currently has a consensus rating of “Hold” and a consensus target price of $6.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Orbimed Advisors LLC acquired a new position in Myriad Genetics during the first quarter valued at $562,500,000. Weiss Asset Management LP acquired a new position in Myriad Genetics during the first quarter valued at $787,000. Renaissance Technologies LLC lifted its position in Myriad Genetics by 19.8% during the first quarter. Renaissance Technologies LLC now owns 454,374 shares of the company’s stock valued at $2,045,000 after purchasing an additional 75,000 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Myriad Genetics during the first quarter valued at $921,000. Finally, Sei Investments Co. acquired a new position in Myriad Genetics during the first quarter valued at $203,000. 99.02% of the stock is currently owned by institutional investors and hedge funds.

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.