An analyst sees good growth prospects for Myriad Genetics, Inc. (MYGN)

With 1.14 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.28 shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $22.63 whereas the lowest price it dropped to was $21.95. The 52-week range on MYGN shows that it touched its highest point at $24.21 and its lowest point at $13.82 during that stretch. It currently has a 1-year price target of $21.68. Beta for the stock currently stands at 1.98.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MYGN was up-trending over the past week, with a rise of 3.43%, but this was up by 20.61% over a month. Three-month performance surged to 22.97% while six-month performance rose 31.82%. The stock gained 16.65% in the past year, while it has gained 14.94% so far this year. A look at the trailing 12-month EPS for MYGN yields -3.36 with Next year EPS estimates of 0.01. For the next quarter, that number is 0.01. This implies an EPS growth rate of -1.39% for this year and 104.11% for next year.

Float and Shares Shorts:

At present, 81.20 million MYGN shares are outstanding with a float of 78.79 million shares on hand for trading. On Jan 31, 2024, short shares totaled 3.71 million, which was 4.13% higher than short shares on Dec 29, 2023. In addition to Mr. Paul J. Diaz as the firm’s CEO, President & Director, Dr. Kevin Richard Haas Ph.D. serves as its Chief Technology Officer.

Institutional Ownership:

Through their ownership of 96.26% of MYGN’s outstanding shares, institutional investors have majority control over the company.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MYGN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MYGN analysts setting a high price target of $31.00 and a low target of $12.00, the average target price over the next 12 months is $21.68. Based on these targets, MYGN could surge 40.91% to reach the target high and fall by -45.45% to reach the target low. Reaching the average price target will result in a decline of -1.45% from current levels.

Summary of Insider Activity:

Insiders traded MYGN stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 53 over the past year. The total number of shares bought during that period was 570,333 while 317,400 shares were sold.