Assenagon Asset Management S.A. reduced its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN – Free Report) by 1.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 164,467 shares of the company’s stock after selling 2,766 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Myriad Genetics were worth $2,255,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the company. Nordea Investment Management AB lifted its stake in Myriad Genetics by 117.0% in the 4th quarter. Nordea Investment Management AB now owns 332,913 shares of the company’s stock valued at $4,548,000 after acquiring an additional 179,527 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Myriad Genetics by 8.8% during the 3rd quarter. Franklin Resources Inc. now owns 58,055 shares of the company’s stock worth $1,457,000 after acquiring an additional 4,710 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Myriad Genetics by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,154,035 shares of the company’s stock valued at $59,010,000 after purchasing an additional 21,220 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its position in shares of Myriad Genetics by 21.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock worth $69,226,000 after purchasing an additional 440,107 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Myriad Genetics by 136.9% during the third quarter. Barclays PLC now owns 190,243 shares of the company’s stock worth $5,210,000 after purchasing an additional 109,931 shares during the last quarter. 99.02% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have issued reports on MYGN shares. Stephens reiterated an “equal weight” rating and issued a $20.00 price target on shares of Myriad Genetics in a research note on Thursday, January 16th. UBS Group initiated coverage on Myriad Genetics in a research note on Tuesday, December 10th. They set a “neutral” rating and a $18.00 price objective on the stock. Piper Sandler decreased their target price on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. Morgan Stanley dropped their price target on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Finally, Leerink Partners cut Myriad Genetics from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $30.00 to $21.00 in a report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $23.92.
Myriad Genetics Trading Down 2.3 %
Shares of Myriad Genetics stock opened at $12.28 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The firm has a 50-day moving average of $14.44 and a 200-day moving average of $21.61. Myriad Genetics, Inc. has a 52-week low of $12.17 and a 52-week high of $29.30. The stock has a market cap of $1.12 billion, a PE ratio of -9.45 and a beta of 1.89.
Myriad Genetics (NASDAQ:MYGN – Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The business had revenue of $213.30 million during the quarter, compared to the consensus estimate of $209.82 million. During the same period in the prior year, the firm earned ($0.17) EPS. As a group, sell-side analysts forecast that Myriad Genetics, Inc. will post -0.28 EPS 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.
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