The stock of Myriad Genetics, Inc. (NASDAQ:MYGN) is a huge mover today! About 771,893 shares traded hands. Myriad Genetics, Inc. (NASDAQ:MYGN) has declined 54.71% since April 13, 2016 and is downtrending. It has underperformed by 58.64% the S&P500.
The move comes after 9 months negative chart setup for the $1.20 billion company. It was reported on Nov, 15 by Barchart.com. We have $16.13 PT which if reached, will make NASDAQ:MYGN worth $60.00M less.
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. Mizuho maintained it with “Neutral” rating and $38 target price in Tuesday, September 15 report. On Wednesday, May 4 the stock rating was maintained by Avondale with “Market Outperform”. The firm earned “Neutral” rating on Wednesday, November 4 by Mizuho. The firm has “Equal-Weight” rating given on Wednesday, August 10 by Barclays Capital. As per Monday, October 10, the company rating was downgraded by Ladenburg Thalmann. Bank of America downgraded the shares of MYGN in a report on Friday, July 29 to “Underperform” rating. The stock has “Hold” rating given by Jefferies on Thursday, August 11. Piper Jaffray maintained the stock with “Overweight” rating in Tuesday, September 15 report. The company was maintained on Wednesday, May 4 by Leerink Swann. Stephens downgraded the stock to “Equal-Weight” rating in Wednesday, November 2 report.
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.
Cortina Asset Mgmt Limited Company, a Wisconsin-based fund reported 182,606 shares. Motley Fool Asset Mngmt Ltd Liability Corp has 0.51% invested in the company for 77,000 shares. Tieton Capital Mngmt Limited Co has 3.03% invested in the company for 101,790 shares. Tiaa Cref Investment Management Ltd Llc holds 216,305 shares or 0.01% of its portfolio. Hall Laurie J Trustee has 300 shares for 0.01% of their US portfolio. Loomis Sayles & Lp has invested 0% of its portfolio in Myriad Genetics, Inc. (NASDAQ:MYGN). Checchi Cap Advisers Ltd Liability Corp accumulated 59 shares or 0% of the stock. Sls Mgmt Lc, a New York-based fund reported 109,300 shares. Systematic Limited Partnership last reported 52,610 shares in the company. Moreover, Rk Capital Mngmt Limited Co has 0.82% invested in Myriad Genetics, Inc. (NASDAQ:MYGN) for 150,200 shares. Capstone Inv Advisors Lc accumulated 0.01% or 19,600 shares. White Pine Cap Ltd has 20,300 shares for 0.26% of their US portfolio. Baillie Gifford & holds 0.62% of its portfolio in Myriad Genetics, Inc. (NASDAQ:MYGN) for 11.32M shares. Bb&T Corporation, a North Carolina-based fund reported 131,297 shares. Ny State Teachers Retirement has 0% invested in the company for 6,000 shares.
Insider Transactions: Since August 12, 2016, the stock had 2 buys, and 1 insider sale for $380,926 net activity. 10,000 shares with value of $212,400 were bought by Capone Mark Christopher on Friday, August 19. $21,490 worth of Myriad Genetics, Inc. (NASDAQ:MYGN) was bought by McDade Ralph L on Friday, August 12. HENDERSON JOHN T sold 30,000 shares worth $614,816.
More 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 published the news titled: “Why Myriad Genetics, Inc. Got Crushed Today” on October 10, 2016. Globenewswire.com‘s news article titled: “Myriad Genetics Inc. Forms Relationship with ION Solutions to Deliver Quality …” with publication date: October 21, 2016 was also an interesting one.
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.
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