Myriad Genetics (NASDAQ:MYGN) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Myriad Genetics (NASDAQ:MYGN) from a buy rating to a hold rating in a research report sent to investors on Thursday.

A number of other equities analysts also recently issued reports on MYGN. UBS Group started coverage on Myriad Genetics in a report on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 price target for the company. The Goldman Sachs Group lowered their target price on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Morgan Stanley cut their price target on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Leerink Partnrs cut shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Piper Sandler dropped their price objective on Myriad Genetics from $24.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.54.

Myriad Genetics Stock Up 0.5 %

NASDAQ:MYGN opened at $14.98 on Thursday. Myriad Genetics has a 1 year low of $12.04 and a 1 year high of $29.30. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. The stock has a 50-day simple moving average of $13.46 and a 200-day simple moving average of $19.65.

Institutional Trading of Myriad Genetics

A number of hedge funds have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd acquired a new stake in shares of Myriad Genetics during the third quarter worth $32,000. Sterling Capital Management LLC raised its position in Myriad Genetics by 829.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company’s stock worth $39,000 after buying an additional 2,556 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Myriad Genetics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock worth $87,000 after acquiring an additional 583 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Myriad Genetics by 43.8% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock valued at $132,000 after acquiring an additional 1,471 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of Myriad Genetics by 588.4% during the third quarter. Meeder Asset Management Inc. now owns 4,922 shares of the company’s stock worth $135,000 after acquiring an additional 4,207 shares during the period. 99.02% of the stock is owned by institutional investors and hedge funds.

About Myriad Genetics

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.