Shares of Myriad Genetics (Nasdaq:MYGN) were gapping up Wednesday morning with an open price 17.3% higher than Tuesday's closing price. The stock closed at $20.33 yesterday and opened today's trading at $23.85.
NEW YORK ( TheStreet) -- Shares of Myriad Genetics (Nasdaq: MYGN) were gapping up Wednesday morning with an open price 17.3% higher than Tuesday's closing price. The stock closed at $20.33 Tuesday and opened today's trading at $23.85. The average volume for Myriad has been 631,400 shares per day over the past 30 days. Myriad has a market cap of $1.8 billion and is part of the services sector and diversified services industry. Shares are down 11% year to date as of the close of trading on Tuesday. Myriad Genetics, Inc., a molecular diagnostic company, focuses on the development and marketing of novel predictive medicine, personalized medicine, and prognostic medicine tests primarily in the United States. The company has a P/E ratio of 19.3, equal to the average diversified services industry P/E ratio and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Myriad as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Myriad Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP to 95370 or select from multiple alert options.