Myriad Genetics, Inc (NASDAQ:MYGN) price on Wednesday, January 15, fall -3.87% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $13.15.
A look at the stock’s price movement, the close in the last trading session was $13.68, moving within a range at $12.81 and $14.31. The beta value (5-Year monthly) was 1.937. Turning to its 52-week performance, $29.30 and $12.87 were the 52-week high and 52-week low respectively. Overall, MYGN moved -9.31% over the past month.
Myriad Genetics, Inc’s market cap currently stands at around $1.20 billion, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 212.84M for the company’s revenue for the quarter, with a low and high estimate of 210.7M and 214.7M respectively. The average forecast suggests up to a 8.26% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 840.16M, representing a 11.55% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that MYGN is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
7 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 5 analyst(s) rate the stock as a Hold, 2 recommend MYGN as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
MYGN’s current price about -4.48% and -13.13% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 35.09, while 7-day volatility ratio is 8.33% and 5.12% in the 30-day chart. Further, Myriad Genetics, Inc (MYGN) has a beta value of 1.89, and an average true range (ATR) of 0.81. Analysts have given the company’s stock an average 52-week price target of $32, forecast between a low of $21 and high of $35. Looking at the price targets, the low is -59.7% off current price level while to achieve the yearly target high, price needs to move -166.16%. Nonetheless, investors will most likely welcome a -143.35% jump to $32 which is the analysts’ median price.
If we refocus on Myriad Genetics, Inc (NASDAQ:MYGN), historical trading data shows that trading volumes averaged 0.85 over the past 10 days and 959.78K over the past 3 months. The company’s latest data on shares outstanding shows there are 91.00 million shares.
The 3.75% of Myriad Genetics, Inc’s shares are in the hands of company insiders while institutional holders own 100.54% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 4.78 million on 2024-12-31, giving us a short ratio of 4.47. The data shows that as of 2024-12-31 short interest in Myriad Genetics, Inc (MYGN) stood at 735.0 of shares outstanding, with shares short rising to 3.39 million registered in 2024-11-29. Current price change has pushed the stock -4.08% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MYGN stock continues to rise going into the next quarter.
