SG Americas Securities LLC Takes $649,000 Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

SG Americas Securities LLC bought a new stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 23,678 shares of the company’s stock, valued at approximately $649,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Myriad Genetics by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,035,708 shares of the company’s stock valued at $213,961,000 after purchasing an additional 81,475 shares during the period. Wellington Management Group LLP increased its stake in Myriad Genetics by 20.4% during the 4th quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock worth $138,185,000 after buying an additional 1,223,446 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of Myriad Genetics by 3.5% during the second quarter. Earnest Partners LLC now owns 4,072,018 shares of the company’s stock valued at $99,602,000 after acquiring an additional 138,960 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Myriad Genetics by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,776,959 shares of the company’s stock valued at $67,924,000 after acquiring an additional 75,445 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Myriad Genetics by 5.4% in the second quarter. Sei Investments Co. now owns 2,417,192 shares of the company’s stock worth $59,125,000 after acquiring an additional 124,007 shares during the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Trading Up 4.4 %

MYGN opened at $24.08 on Monday. Myriad Genetics, Inc. has a 52 week low of $13.82 and a 52 week high of $29.30. The business has a fifty day simple moving average of $27.09 and a 200-day simple moving average of $24.57. The firm has a market cap of $2.18 billion, a P/E ratio of -8.54 and a beta of 1.91. The company has a quick ratio of 1.78, a current ratio of 1.96 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $211.50 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned ($0.21) EPS. On average, equities analysts expect that Myriad Genetics, Inc. will post -0.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on MYGN. Morgan Stanley initiated coverage on shares of Myriad Genetics in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $32.00 target price for the company. Scotiabank boosted their price target on shares of Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. raised their price objective on shares of Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. TD Cowen boosted their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Finally, Piper Sandler increased their price target 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.91.

Insider Buying and Selling at Myriad Genetics

In other news, Director Colleen F. Reitan sold 46,012 shares of the 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 sale, the director now directly owns 42,533 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Paul J. Diaz sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $22.93, for a total value of $343,950.00. Following the sale, the chief executive officer now owns 962,378 shares of the company’s stock, valued at $22,067,327.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Colleen F. Reitan sold 46,012 shares of the business’s 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 transaction, the director now owns 42,533 shares of the company’s stock, valued at $1,188,797.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders 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.

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.