Inspire Advisors LLC Takes $208,000 Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Inspire Advisors LLC purchased a new stake in Myriad Genetics, Inc. (NASDAQ:MYGN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,582 shares of the company’s stock, valued at approximately $208,000.

Other large investors have also made changes to their positions in the company. Hexagon Capital Partners LLC raised its stake in shares of Myriad Genetics by 75.3% in the second quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock valued at $28,000 after purchasing an additional 491 shares in the last quarter. Innealta Capital LLC bought a new position in Myriad Genetics in the second quarter valued at about $36,000. GAMMA Investing LLC boosted its holdings in Myriad Genetics by 34.1% in the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after acquiring an additional 412 shares during the last quarter. Point72 DIFC Ltd bought a new position in Myriad Genetics during the second quarter worth about $60,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Myriad Genetics during the second quarter worth about $82,000. Institutional investors own 99.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wells Fargo & Company assumed coverage on Myriad Genetics in a research report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. raised their price target on Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. TD Cowen lifted their target price on Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Scotiabank lifted their target price on Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 13th. Finally, Piper Sandler boosted their price target on Myriad Genetics from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Myriad Genetics currently has an average rating of “Hold” and a consensus price target of $28.91.

Insider Activity at Myriad Genetics

In related news, Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 directly owns 42,533 shares of the company’s stock, valued at approximately $1,188,797.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total value of $1,286,035.40. Following the completion of the sale, the director now directly owns 42,533 shares of the company’s stock, valued at $1,188,797.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Paul J. Diaz sold 15,000 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the sale, the chief executive officer now directly owns 962,378 shares of the company’s stock, valued at $22,067,327.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,012 shares of company stock valued at $1,900,485. 2.10% of the stock is owned by insiders.

Myriad Genetics Stock Performance

Shares of MYGN opened at $23.39 on Monday. The company has a current ratio of 1.96, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -8.29 and a beta of 1.91. The stock has a 50 day moving average of $26.80 and a 200 day moving average of $24.64. Myriad Genetics, Inc. has a 12 month low of $13.82 and a 12 month high of $29.30.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $211.50 million during the quarter, compared to the consensus estimate of $206.44 million. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. Myriad Genetics’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the business posted ($0.21) earnings per share. As a group, sell-side analysts forecast that Myriad Genetics, Inc. will post -0.34 earnings per share for the current year.

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.