Is A Short Squeeze Ahead for Myriad Genetics (MYGN)? - Tale of the Tape
May 05 2014 - 8:59AM
Zacks
Many investors appear to be quite bearish on
Myriad Genetics, Inc. (MYGN), especially if you
look at the percentage of the float that is sold short for this
stock. Currently, 52.1% of the float is sold short, suggesting an
extreme level of bearishness for MYGN.
However, it is worth noting that earnings estimates have actually
been moving higher for the company, despite the pessimism. Thanks
to these rising estimates, we have a Zacks Rank #1 (Strong Buy) on
MYGN, so we clearly don’t believe in the negativity surrounding
this firm, and are instead looking for shares of MYGN to move
higher in the weeks ahead.
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