Point72 Asia Singapore Pte. Ltd. Buys Shares of 3,362 Myriad Genetics, Inc. (NASDAQ:MYGN)

Point72 Asia Singapore Pte. Ltd. bought a new stake in Myriad Genetics, Inc. (NASDAQ:MYGN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,362 shares of the company’s stock, valued at approximately $82,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Glenview Capital Management LLC boosted its position in Myriad Genetics by 39.6% during the fourth quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock valued at $101,135,000 after acquiring an additional 1,500,000 shares during the last quarter. Wellington Management Group LLP increased its holdings in 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 in the last quarter. Vanguard Group Inc. lifted its stake in Myriad Genetics by 8.6% in the fourth quarter. Vanguard Group Inc. now owns 9,954,233 shares of the company’s stock valued at $190,524,000 after buying an additional 789,496 shares during the period. Sei Investments Co. boosted its holdings in shares of Myriad Genetics by 41.9% during the 4th quarter. Sei Investments Co. now owns 2,161,434 shares of the company’s stock worth $41,370,000 after buying an additional 638,147 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Myriad Genetics by 80.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 334,717 shares of the company’s stock worth $7,620,000 after buying an additional 149,234 shares during the period. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Myriad Genetics Trading Up 0.2 %

NASDAQ:MYGN opened at $26.47 on Friday. The company has a market cap of $2.40 billion, a P/E ratio of -9.37 and a beta of 1.91. Myriad Genetics, Inc. has a 1 year low of $13.82 and a 1 year high of $29.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.96 and a quick ratio of 1.78. The stock’s fifty day moving average price is $27.39 and its two-hundred day moving average price is $24.40.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $211.50 million for the quarter, compared to the consensus estimate of $206.44 million. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.21) earnings per share. As a group, analysts expect that Myriad Genetics, Inc. will post -0.35 EPS for the current year.

Insiders Place Their Bets

In other Myriad Genetics news, Director Heinrich Dreismann sold 10,000 shares of Myriad Genetics stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $27.05, for a total transaction of $270,500.00. Following the transaction, the director now directly owns 121,648 shares of the company’s stock, valued at approximately $3,290,578.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the completion of the sale, the director now owns 42,533 shares of the company’s stock, valued at $1,188,797.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Heinrich Dreismann sold 10,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were 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 owns 121,648 shares in the company, valued at $3,290,578.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Myriad Genetics Company 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.