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

Myriad Genetics, Inc. (NASDAQ:MYGN) Director Paul Bisaro purchased 7,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were acquired at an average price of $3.69 per share, with a total value of $27,675.00. Following the completion of the acquisition, the director owned 97,441 shares in the company, valued at approximately $359,557.29. This trade represents a 8.34% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Myriad Genetics Stock Performance

Shares of MYGN opened at $3.62 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.40 and a quick ratio of 2.19. The stock has a 50-day moving average of $4.68 and a 200-day moving average of $5.70. The company has a market cap of $341.91 million, a PE ratio of -0.84 and a beta of 1.81. Myriad Genetics, Inc. has a one year low of $3.62 and a one year high of $8.59.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The firm had revenue of $200.40 million during the quarter, compared to analyst estimates of $202.42 million. Myriad Genetics had a negative net margin of 48.24% and a negative return on equity of 8.51%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) earnings per share. On average, equities research analysts predict that Myriad Genetics, Inc. will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Myriad Genetics

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Myriad Genetics by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 8,225,371 shares of the company’s stock worth $50,586,000 after buying an additional 342,856 shares in the last quarter. Millennium Management LLC lifted its position in shares of Myriad Genetics by 41.1% during the 4th quarter. Millennium Management LLC now owns 6,700,158 shares of the company’s stock worth $41,206,000 after buying an additional 1,951,831 shares in the last quarter. State Street Corp lifted its position in shares of Myriad Genetics by 19.9% during the 4th quarter. State Street Corp now owns 5,966,567 shares of the company’s stock worth $36,694,000 after buying an additional 990,075 shares in the last quarter. Glenview Capital Management LLC lifted its position in shares of Myriad Genetics by 17.6% during the 2nd quarter. Glenview Capital Management LLC now owns 4,587,407 shares of the company’s stock worth $24,359,000 after buying an additional 687,857 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Myriad Genetics by 157.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,442,912 shares of the company’s stock worth $17,662,000 after buying an additional 1,492,405 shares in the last quarter. Institutional investors own 99.02% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.