Myriad Genetics (NASDAQ:MYGN) Director S. Louise Phanstiel Acquires 6,100 Shares

Myriad Genetics, Inc. (NASDAQ:MYGN) Director S. Louise Phanstiel purchased 6,100 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was purchased at an average price of $4.74 per share, for a total transaction of $28,914.00. Following the completion of the acquisition, the director owned 183,544 shares of the company’s stock, valued at approximately $869,998.56. This represents a 3.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

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

• On Friday, February 27th, S. Louise Phanstiel acquired 48,000 shares of Myriad Genetics stock. The shares were purchased at an average cost of $4.66 per share, with a total value of $223,680.00.
• On Thursday, February 26th, S. Louise Phanstiel acquired 50,407 shares of Myriad Genetics stock. The shares were purchased at an average price of $4.80 per share, with a total value of $241,953.60.

Myriad Genetics Stock Down 5.1%

NASDAQ MYGN traded down $0.25 during trading on Friday, hitting $4.61. The stock had a trading volume of 2,121,107 shares, compared to its average volume of 1,197,196. Myriad Genetics, Inc. has a 12 month low of $3.76 and a 12 month high of $11.44. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.12 and a current ratio of 2.49. The company’s 50-day moving average price is $5.65 and its two-hundred day moving average price is $6.60. The company has a market capitalization of $431.08 million, a PE ratio of -1.17 and a beta of 1.90.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Monday, February 23rd. The company reported $0.04 earnings per share 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 during the quarter, compared to analysts’ expectations of $207.57 million. During the same period last year, the business earned $0.03 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. As a group, sell-side analysts forecast that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

MYGN has been the topic of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Myriad Genetics in a research report on Monday, December 29th. TD Cowen reiterated a “hold” rating on shares of Myriad Genetics in a report on Tuesday, November 4th. Zacks Research cut Myriad Genetics from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Piper Sandler decreased their price target on Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Finally, UBS Group dropped their price objective on Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $9.17.

Institutional Trading of Myriad Genetics

Several institutional investors and hedge funds have recently bought and sold shares of MYGN. Hantz Financial Services Inc. raised its stake in Myriad Genetics by 1,088.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 4,089 shares of the company’s stock worth $30,000 after purchasing an additional 3,745 shares in the last quarter. Quarry LP raised its position in shares of Myriad Genetics by 155.6% in the fourth quarter. Quarry LP now owns 4,365 shares of the company’s stock valued at $27,000 after buying an additional 2,657 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Myriad Genetics by 2,333.3% in the second quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company’s stock valued at $25,000 after buying an additional 4,480 shares during the period. Royal Bank of Canada grew its position in Myriad Genetics by 129.6% during the fourth quarter. Royal Bank of Canada now owns 4,993 shares of the company’s stock worth $31,000 after buying an additional 2,818 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Myriad Genetics by 407.3% during 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. 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.