Myriad Genetics, Inc. Can’t Be More Risky. Option Traders Sell It

 Myriad Genetics, Inc. Can't Be More Risky. Option Traders Sell It

In today’s session Myriad Genetics, Inc. (MYGN) recorded an unusually high (178) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious MYGN decrease. With 178 contracts traded and 2614 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: MYGN161118P00020000 closed last at: $3.6 or 157.1% up. About 829,732 shares traded hands. Myriad Genetics, Inc. (NASDAQ:MYGN) has declined 57.41% since April 4, 2016 and is downtrending. It has underperformed by 58.50% the S&P500.

Myriad Genetics, Inc. (NASDAQ:MYGN) Ratings Coverage

Out of 17 analysts covering Myriad Genetics (NASDAQ:MYGN), 4 rate it a “Buy”, 4 “Sell”, while 9 “Hold”. This means 24% are positive. Myriad Genetics has been the topic of 30 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Myriad Genetics, Inc. (NASDAQ:MYGN) earned “Underperform” rating by Bank of America on Friday, July 29. The stock has “Sell” rating given by Ladenburg Thalmann on Monday, October 10. The stock of Myriad Genetics, Inc. (NASDAQ:MYGN) has “Hold” rating given on Wednesday, August 10 by Gabelli. The company was downgraded on Wednesday, August 10 by PiperJaffray. The firm earned “Neutral” rating on Tuesday, September 15 by Mizuho. As per Wednesday, August 10, the company rating was downgraded by Barclays Capital. The stock has “Overweight” rating given by Piper Jaffray on Tuesday, September 15. Mizuho maintained it with “Neutral” rating and $42 target price in Wednesday, November 4 report. Wells Fargo upgraded the stock to “Market Perform” rating in Tuesday, August 25 report. The stock of Myriad Genetics, Inc. (NASDAQ:MYGN) has “Market Perform” rating given on Wednesday, May 4 by Leerink Swann.

According to Zacks Investment Research, “Myriad Genetics, Inc. uses gene-based medicine to develop therapeutic and molecular diagnostic products. They employ a variety of proprietary proteomic technologies to discover disease genes and to understand the role these genes and their related proteins play in the onset and progression of disease. They have integrated these technologies using bioinformatics and robotics systems to conduct their research efforts on a high-throughput basis. This has enabled them to identify numerous proteins as targets for new drugs and molecular diagnostic tests.”

Insitutional Activity: The institutional sentiment decreased to 1.24 in Q2 2016. Its down 0.09, from 1.33 in 2016Q1. The ratio fall, as 22 funds sold all Myriad Genetics, Inc. shares owned while 77 reduced positions. 43 funds bought stakes while 80 increased positions. They now own 77.80 million shares or 7.83% less from 84.42 million shares in 2016Q1.
Dupont Cap Mgmt has 10,021 shares for 0.01% of their US portfolio. Ladenburg Thalmann Fincl Inc has 1,412 shares for 0% of their US portfolio. California State Teachers Retirement has invested 0.01% of its portfolio in Myriad Genetics, Inc. (NASDAQ:MYGN). Baillie Gifford & reported 11.32 million shares or 0.62% of all its holdings. Stevens Capital Mngmt Limited Partnership holds 0.01% of its portfolio in Myriad Genetics, Inc. (NASDAQ:MYGN) for 11,529 shares. First Republic Invest owns 10,838 shares or 0% of their US portfolio. Gargoyle Invest Advisor Limited Liability Co has 0.24% invested in the company for 20,700 shares. Ubs Asset Mgmt Americas Incorporated holds 0% of its portfolio in Myriad Genetics, Inc. (NASDAQ:MYGN) for 46,123 shares. Campbell And Inv Adviser Lc accumulated 1.53% or 9,902 shares. Sg Americas Lc owns 3,908 shares or 0% of their US portfolio. Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in Myriad Genetics, Inc. (NASDAQ:MYGN) for 2,175 shares. Alliancebernstein Lp has 0% invested in the company for 139,924 shares. American Century Companies accumulated 300,884 shares or 0.01% of the stock. Frontier Company Limited Company holds 0.46% or 1.83M shares in its portfolio. Moreover, Northern Trust has 0.01% invested in Myriad Genetics, Inc. (NASDAQ:MYGN) for 1.03 million shares.

Insider Transactions: Since August 12, 2016, the stock had 2 buys, and 1 insider sale for $380,926 net activity. Capone Mark Christopher bought $212,400 worth of Myriad Genetics, Inc. (NASDAQ:MYGN) on Friday, August 19. 1,000 shares were bought by McDade Ralph L, worth $21,490. HENDERSON JOHN T had sold 30,000 shares worth $614,816.

Myriad Genetics, Inc. is a molecular diagnostic company. The company has a market cap of $946.54 million. The Firm is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. It has a 12.54 P/E ratio. The Firm operates through two divisions: diagnostics and other.

MYGN Company Profile

Myriad Genetics, Inc. (Myriad), incorporated on November 6, 1992, is a molecular diagnostic company. The Firm is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Firm operates through two divisions: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence. The other segment provides testing services and products to the pharmaceutical, biotechnology and medical research industries, research and development, and clinical services for patients, and also includes corporate services, such as finance, human resources, legal and information technology.

More notable recent Myriad Genetics, Inc. (NASDAQ:MYGN) news were published by: Fool.com which released: “Why Myriad Genetics, Inc. Got Knocked Down Today” on November 02, 2016, also Fool.com with their article: “Why Myriad Genetics, Inc. Got Crushed Today” published on October 10, 2016, Globenewswire.com published: “Myriad Genetics Inc. Forms Relationship with ION Solutions to Deliver Quality …” on October 21, 2016. More interesting news about Myriad Genetics, Inc. (NASDAQ:MYGN) were released by: Nasdaq.com and their article: “Myriad Genetics is Now Oversold (MYGN)” published on November 02, 2016 as well as Finance.Yahoo.com‘s news article titled: “Myriad Genetics (MYGN) Q1 Earnings: A Beat in the Cards?” with publication date: October 24, 2016.

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