Point72 DIFC Ltd Takes Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Point72 DIFC Ltd purchased a new stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,459 shares of the company’s stock, valued at approximately $60,000.

Several other large investors have also recently bought and sold shares of MYGN. Hexagon Capital Partners LLC grew its stake in Myriad Genetics by 75.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock valued at $28,000 after acquiring an additional 491 shares in the last quarter. Innealta Capital LLC purchased a new position in Myriad Genetics during the second quarter valued at approximately $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Myriad Genetics in the 2nd quarter valued at approximately $82,000. Neo Ivy Capital Management purchased a new stake in Myriad Genetics in the 2nd quarter worth approximately $85,000. Finally, Quest Partners LLC boosted its stake in shares of Myriad Genetics by 10,724.5% during the 2nd quarter. Quest Partners LLC now owns 5,304 shares of the company’s stock valued at $130,000 after buying an additional 5,255 shares during the period. 99.02% of the stock is owned by institutional investors and hedge funds.

Myriad Genetics Stock Performance

NASDAQ:MYGN opened at $26.96 on Thursday. The firm has a market capitalization of $2.44 billion, a PE ratio of -9.56 and a beta of 1.92. Myriad Genetics, Inc. has a 1 year low of $13.82 and a 1 year high of $29.30. 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 firm’s fifty day simple moving average is $27.42 and its 200 day simple moving average is $24.38.

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

Insider Transactions at Myriad Genetics

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

Analysts Set New Price Targets

A number of research firms recently issued reports on MYGN. Scotiabank lifted their price objective on Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 13th. Morgan Stanley initiated coverage on Myriad Genetics in a research note on Thursday, September 19th. They issued an “equal weight” rating and a $32.00 price target for the company. TD Cowen increased their price objective on Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Piper Sandler lifted their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company assumed coverage on shares of Myriad Genetics in a research note on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $28.91.

About Myriad Genetics

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.