Mirae Asset Global Investments Co. Ltd. Raises Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Mirae Asset Global Investments Co. Ltd. increased its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) by 21.6% during the third quarter, Holdings Channel.com reports. The firm owned 3,285 shares of the company’s stock after purchasing an additional 583 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Myriad Genetics were worth $87,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of 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 worth $28,000 after buying an additional 491 shares during the period. Innealta Capital LLC purchased a new stake in Myriad Genetics in the 2nd quarter worth approximately $36,000. GAMMA Investing LLC raised its stake in Myriad Genetics by 34.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock worth $44,000 after acquiring an additional 412 shares during the period. Point72 DIFC Ltd purchased a new position in Myriad Genetics during the second quarter valued at approximately $60,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Myriad Genetics in the second quarter worth approximately $82,000. 99.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MYGN has been the topic of a number of analyst reports. TD Cowen lifted their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Morgan Stanley began coverage on Myriad Genetics in a research note on Thursday, September 19th. They issued an “equal weight” rating and a $32.00 price objective for the company. Scotiabank lifted their target price on Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 13th. Piper Sandler upped their price target on Myriad Genetics from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company began coverage on shares of Myriad Genetics in a report on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 target price on the stock. Two investment 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, Myriad Genetics currently has an average rating of “Hold” and an average price target of $28.91.

Myriad Genetics Price Performance

NASDAQ:MYGN opened at $17.83 on Tuesday. 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 business has a 50 day simple moving average of $25.57 and a 200-day simple moving average of $24.81. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -9.85 and a beta of 1.93. Myriad Genetics, Inc. has a 1 year low of $15.99 and a 1 year high of $29.30.

Myriad Genetics (NASDAQ:MYGN) last released its 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 firm had revenue of $211.50 million for the quarter, compared to analysts’ expectations of $206.44 million. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The company’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. Equities analysts forecast that Myriad Genetics, Inc. will post -0.35 EPS for the current year.

Insider Buying and Selling

In other Myriad Genetics news, CEO Paul J. Diaz sold 15,000 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $22.93, for a total value of $343,950.00. Following the transaction, the chief executive officer now directly owns 962,378 shares in the company, valued at $22,067,327.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, 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 transaction of $343,950.00. Following the transaction, the chief executive officer now owns 962,378 shares in the company, valued at approximately $22,067,327.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Heinrich Dreismann sold 10,000 shares of Myriad Genetics 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 $3,290,578.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,012 shares of company stock valued at $1,900,485 in the last 90 days. 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.