5 times Within The Past Five Days, Myriad Genetics Inc. (MYGN) Hit A New High

Myriad Genetics Inc. (NASDAQ:MYGN) finished Friday with a subtraction of -$0.04 to close at $32.46, a downside of -0.12 percent. An average of 345,340 shares of common stock have been traded in the last five days. There was a gain of $0.72 in the past week, and it reached a new high 35 times over the past 12 months. The last 20 days have seen an average of 326,095 shares traded, while the 50-day average volume stands at 383,012.

MYGN stock has decreased by -6.62% in the last month. The company shares reached their 1-month lowest point of $30.52 on 10/04/21. With the stock rallying to its 52-week high on 08/30/21, shares of the company touched a low of $12.22 and a high of $36.95 in 52 weeks. It has reached a new high 21 times so far this year and achieved 64.15% or $12.68 in price. In spite of this, the price is down -12.16% from the 52-week high.

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Insider Transactions

22 days have passed since Myriad Genetics Inc. (MYGN) last reported insider trading activity. Lambert Nicole, who is See Remarks, most recently acquired $1,420 shares at $31.57 per share on Oct 01. In this transaction, the insider spent $44,835. See Remarks, Lambert Nicole, disposed of 10,112 shares at a price of $33.10 on Sep 27. The insider now owns more than $334,747 worth of shares. Prior to that, Chief Scientific Officer LANCHBURY JERRY S went on to Sale 200 shares at $35.06 each on Sep 23. An amount of $7,012 was transacted.

Valuation Metrics

Myriad Genetics Inc. (MYGN) has a trailing price-to-earnings (P/E) ratio of 26.50 for the broader industry and 33.43 for the sector. In the last five years, Myriad Genetics Inc.’s PE ratio has ranged between 941.60 and 12.80. The stock’s beta is 1.59. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.89, the price-to-book (PB) ratio at 2.78.

The quick ratio of Myriad Genetics Inc. for the three months ended June 29 was 1.90, and the current ratio was 2.00, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.12 for the quarter ending June 29. Myriad Genetics Inc.’s EBITDA margin for the year ending June 29 is -9.83%, while its operating margin for the same period stands at -23.40%. Its gross profit as reported stood at $452.5 million compared to revenue of $638.6 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Myriad Genetics Inc.’s return on assets was -7.00%. For the broader industry, ROE averaged -2.89 over the past year.

Earnings Surprise

For the three-month period that ended June 29, Myriad Genetics Inc. had $46.0 million in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$4.7 million in the quarter, while revenues of -$39.5 million were shrunk -2351.06%. The analyst consensus anticipated Myriad Genetics Inc.’s latest quarter earnings to come in at -$0.09 per share, but it turned out to be $0.12, a 233.30% surprise. For the quarter, EBITDA amounted to -$2.1 million. Shareholders own equity worth $78.06 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Myriad Genetics Inc. (MYGN) price momentum. RSI 9-day as of the close on 22 October was 53.73%, suggesting the stock is Neutral, with historical volatility in this time frame at 16.01%.

As of today, MYGN’s price is $32.47 +2.27% or $0.72 from its 5-day moving average. MYGN is currently trading -2.55% lower than its 20-day SMA and +15.19% higher than its 100-day SMA. However, the stock’s current price level is -3.19% below the SMA50 and +35.93% above the SMA200.

The stochastic %K and %D were 78.19% and 77.14%, respectively, and the average true range (ATR) was 1.05. With the 14-day stochastic at 75.44% and the average true range at 1.13, the RSI (14) stands at 50.48%. The stock has reached 0.34 on the 9-day MACD Oscillator while the 14-day reading was at 0.69.

Analyst Ratings

The consensus rating for Myriad Genetics Inc. (MYGN) among analysts is Underweight. According to current brokerage recommendations, 3 brokerage firms advise that investors sell MYGN, while 4 suggest investors hold. There are 2 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.

What is MYGN’s price target for the next 12 months?

Analysts predict a range of price targets between $20.00 and $42.00, with a median target of $29.50. Taking a look at these predictions, the average price target given by analysts for Myriad Genetics Inc. (MYGN) stock is $30.13.


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