Insider Selling: Myriad Genetics (NASDAQ:MYGN) Director Sells $66,900.00 in Stock

Myriad Genetics, Inc. (NASDAQ:MYGN) Director Rashmi Kumar sold 15,000 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $4.46, for a total transaction of $66,900.00. Following the completion of the transaction, the director owned 171,889 shares in the company, valued at $766,624.94. This represents a 8.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Myriad Genetics Price Performance

Shares of MYGN stock opened at $4.63 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 company has a market capitalization of $437.30 million, a P/E ratio of -1.08 and a beta of 1.73. The company’s 50-day simple moving average is $4.42 and its two-hundred day simple moving average is $5.29. Myriad Genetics, Inc. has a one year low of $3.53 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 analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $200.40 million during the quarter, compared to the consensus estimate of $202.42 million. Myriad Genetics had a negative return on equity of 8.51% and a negative net margin of 48.24%.Myriad Genetics’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) earnings per share. As a group, equities analysts anticipate that Myriad Genetics, Inc. will post -0.17 EPS for the current year.

Analysts Set New Price Targets

MYGN has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Myriad Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 4th. UBS Group dropped their price objective 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. Wells Fargo & Company dropped their price objective on shares of Myriad Genetics from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. TD Cowen dropped their price objective on shares of Myriad Genetics from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. Finally, Zacks Research upgraded shares of Myriad Genetics from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.50.

Institutional Investors Weigh In On Myriad Genetics

Several institutional investors have recently bought and sold shares of MYGN. Baird Financial Group Inc. acquired a new stake in Myriad Genetics in the first quarter valued at approximately $105,000. Royal Bank of Canada boosted its stake in 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 in the last quarter. AQR Capital Management LLC boosted its stake in Myriad Genetics by 278.9% in the first quarter. AQR Capital Management LLC now owns 433,392 shares of the company’s stock valued at $3,844,000 after acquiring an additional 319,007 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Myriad Genetics by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 299,256 shares of the company’s stock valued at $2,654,000 after acquiring an additional 14,027 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in Myriad Genetics by 1,076.9% in the first quarter. Jane Street Group LLC now owns 213,826 shares of the company’s stock valued at $1,897,000 after acquiring an additional 195,658 shares in the last quarter. 99.02% of the stock is currently owned by institutional investors and hedge funds.

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.