Myriad Genetics Inc. (NASDAQ:MYGN) shares, rose in value on Friday, 05/13/22, with the stock price up by 7.14% to the previous day’s close as strong demand from buyers drove the stock to $22.37.
Actively observing the price movement in the last trading, the stock closed the session at $20.88, falling within a range of $21.14 and $22.50. The value of beta (5-year monthly) was 1.58. Referring to stock’s 52-week performance, its high was $36.95, and the low was $18.98. On the whole, MYGN has fluctuated by -8.47% over the past month.
With the market capitalization of Myriad Genetics Inc. currently standing at about $1.81 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 02, 2022 – May 06, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.02, which is expected to increase to $0.05 for fiscal year $0.01 and then to about $0.16 by fiscal year 2022. Data indicates that the EPS growth is expected to be 101.50% in 2022, while the next year’s EPS growth is forecast to be 1,500.00%.
Analysts have estimated the company’s revenue for the quarter at $163.25 million, with a low estimate of $157.52 million and a high estimate of $168.92 million. According to the average forecast, sales growth in current quarter could jump up 5.60%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $692.66 million, representing an increase of 24.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MYGN’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MYGN currently trading nearly 3.89% and -4.97% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 52.34, while the 7-day volatility ratio is showing 8.74% which for the 30-day chart, stands at 5.69%. Furthermore, Myriad Genetics Inc. (MYGN)’s beta value is 1.57, and its average true range (ATR) is 1.25.
A comparison of Myriad Genetics Inc. (MYGN) with its peers suggests the former has fared considerably weaker in the market. MYGN showed an intraday change of 7.14% in last session, and over the past year, it shrunk by -18.30%%. On the other hand, the price of Abbott Laboratories (ABT) has risen 1.77% on the day. The stock, however, is off -7.13% from where it was a year ago. Additionally, there is a gain of 1.77% for BioMarin Pharmaceutical Inc. (BMRN) in last trading while the stock has seen an overall depriciation of 1.04%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 2.39%. Meanwhile, the Dow Jones Industrial Improved by 1.47%.
Data on historical trading for Myriad Genetics Inc. (NASDAQ:MYGN) indicates that the trading volumes over the past 3 months, they’ve averaged 550.95K. According to company’s latest data on outstanding shares, there are 80.83 million shares outstanding.
The stock has fallen by -18.95% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MYGN stock heading into the next quarter.