Myriad Genetics, Inc. (NASDAQ:MYGN) shares, rose in value, with the stock price down by -0.75% to the previous day’s close as strong demand from buyers drove the stock to $21.16.
Actively observing the price movement in the last trading, the stock closed the session at $21.32. The value of beta (5-year monthly) was 1.96. Referring to stock’s 52-week performance, its high was $24.21, and the low was $13.82. On the whole, MYGN has fluctuated by -9.61% over the past month.
With the market capitalization of Myriad Genetics, Inc. currently standing at about $1.90 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 01, 2024 – May 06, 2024. 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 -$0.1, which is expected to increase to $0.03 for fiscal year $0.02 and then to about $0.24 by fiscal year 2025. Data indicates that the EPS growth is expected to be 107.40% in 2025, while the next year’s EPS growth is forecast to be 1,100.00%.
Analysts have estimated the company’s revenue for the quarter at $193.26 million, with a low estimate of $190.36 million and a high estimate of $196.32 million. According to the average forecast, sales growth in current quarter could jump up 6.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $826.67 million, representing an increase of 9.80% 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% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MYGN currently trading nearly -5.91% and -1.58% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.98, while the 7-day volatility ratio is showing 4.72% which for the 30-day chart, stands at 5.04%. Furthermore, Myriad Genetics, Inc. (MYGN)’s beta value is 1.96, and its average true range (ATR) is 1.09.
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 -0.75% in last session, and over the past year, it shrunk by -9.30%%.
Data on historical trading for Myriad Genetics, Inc. (NASDAQ:MYGN) indicates that the trading volumes over the past 10 days have averaged 0.62 million and over the past 3 months, they’ve averaged 661.39K. According to company’s latest data on outstanding shares, there are 89.90 million shares outstanding.
Nearly 4.14% of Myriad Genetics, Inc.’s shares belong to company insiders and institutional investors own 100.47% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.0 million shares as on Feb 29, 2024, resulting in a short ratio of 6.53. According to the data, the short interest in Myriad Genetics, Inc. (MYGN) stood at 4.45% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 3.71 million. The stock has risen by 10.55% 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.
