Myriad Genetics (NASDAQ:MYGN – Get Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of -$0.10-0 for the period, compared to the consensus earnings per share estimate of $0.03. The company issued revenue guidance of $670.00 million-$700.00 million, compared to the consensus revenue estimate of $686.67 million.

Analyst Upgrades and Downgrades

Several brokerages have commented on MYGN. StockNews.com downgraded Myriad Genetics from a buy rating to a hold rating in a research note on Wednesday, July 13th. Cowen boosted their price target on Myriad Genetics to $32.00 in a report on Tuesday. The Goldman Sachs Group reduced their price target on Myriad Genetics from $26.00 to $23.00 and set a sell rating on the stock in a report on Tuesday, April 19th. TheStreet cut Myriad Genetics from a c- rating to a d+ rating in a report on Friday, June 3rd. Finally, SVB Leerink boosted their price target on Myriad Genetics from $26.00 to $30.00 and gave the stock a market perform rating in a report on Friday, August 5th.

Myriad Genetics Stock Performance

MYGN stock traded up $0.91 during trading on Friday, hitting $27.61. The company had a trading volume of 524,648 shares, compared to its average volume of 609,271. The business has a 50-day moving average of $21.37 and a 200-day moving average of $22.91. Myriad Genetics has a one year low of $16.02 and a one year high of $36.95.

Insider Activity at Myriad Genetics

In related news, Director Daniel K. Spiegelman sold 6,424 shares of the company's stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $19.25, for a total value of $123,662.00. Following the sale, the director now directly owns 33,980 shares in the company, valued at $654,115. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Myriad Genetics

Institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE boosted its holdings in shares of Myriad Genetics by 14.6% during the 1st quarter. US Bancorp DE now owns 4,243 shares of the company's stock worth $108,000 after buying an additional 541 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of Myriad Genetics by 103.2% during the 1st quarter. Captrust Financial Advisors now owns 5,083 shares of the company's stock worth $128,000 after buying an additional 2,581 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Myriad Genetics during the 1st quarter worth approximately $303,000. Engineers Gate Manager LP bought a new position in shares of Myriad Genetics during the 1st quarter worth approximately $360,000. Finally, Mariner LLC bought a new position in shares of Myriad Genetics during the 1st quarter worth approximately $361,000. 97.44% of the stock is currently owned by institutional investors.

About Myriad Genetics

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Myriad Genetics, Inc, a genetic testing and precision medicine company, develops and commercializes genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and mental health applications. It provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, or metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.

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