50,000 Shares in Myriad Genetics, Inc. (NASDAQ:MYGN) Purchased by Maven Securities LTD

Maven Securities LTD acquired a new position in Myriad Genetics, Inc. (NASDAQ:MYGN) during the 2nd quarter, HoldingsChannel reports. The fund acquired 50,000 shares of the company’s stock, valued at approximately $1,223,000.

Other large investors also recently modified their holdings of the company. Sei Investments Co. increased its position in shares of Myriad Genetics by 41.9% in the fourth quarter. Sei Investments Co. now owns 2,161,434 shares of the company’s stock worth $41,370,000 after purchasing an additional 638,147 shares during the last quarter. Glenview Capital Management LLC grew its position in Myriad Genetics by 39.6% during the 4th quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock valued at $101,135,000 after purchasing an additional 1,500,000 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Myriad Genetics during the fourth quarter valued at approximately $428,000. Wellington Management Group LLP raised its stake in shares of Myriad Genetics by 20.4% in the fourth quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock worth $138,185,000 after purchasing an additional 1,223,446 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Myriad Genetics by 10.7% during the fourth quarter. Fisher Asset Management LLC now owns 157,969 shares of the company’s stock valued at $3,024,000 after purchasing an additional 15,313 shares during the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on MYGN. JPMorgan Chase & Co. upped their target price on shares of Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Piper Sandler lifted their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. TD Cowen raised their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Wells Fargo & Company began coverage on shares of Myriad Genetics in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price objective for the company. Finally, Morgan Stanley assumed coverage on shares of Myriad Genetics in a research report on Thursday, September 19th. They set an “equal weight” rating and a $32.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.91.

Myriad Genetics Stock Performance

NASDAQ:MYGN opened at $27.03 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.96 and a quick ratio of 1.78. Myriad Genetics, Inc. has a 12 month low of $13.82 and a 12 month high of $29.30. The business’s fifty day moving average price is $27.44 and its 200 day moving average price is $24.36. The firm has a market capitalization of $2.45 billion, a PE ratio of -9.59 and a beta of 1.92.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. The company had revenue of $211.50 million for the quarter, compared to analyst estimates of $206.44 million. During the same period in the previous year, the business posted ($0.21) earnings per share. Myriad Genetics’s quarterly revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts anticipate that Myriad Genetics, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Activity at Myriad Genetics

In related news, Director Heinrich Dreismann sold 10,000 shares of Myriad Genetics stock in a transaction on Monday, September 9th. The stock was sold at an average price of $27.05, for a total transaction of $270,500.00. Following the completion of the transaction, the director now directly owns 121,648 shares of the company’s stock, valued at $3,290,578.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Colleen F. Reitan sold 46,012 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total value of $1,286,035.40. Following the transaction, the director now owns 42,533 shares in the company, valued at $1,188,797.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Heinrich Dreismann sold 10,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $27.05, for a total value of $270,500.00. Following the completion of the sale, the director now owns 121,648 shares of the company’s stock, valued at approximately $3,290,578.40. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Myriad Genetics Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.