D. E. Shaw & Co. Inc. Lowers Holdings in Myriad Genetics, Inc. (NASDAQ:MYGN)

D. E. Shaw & Co. Inc. reduced its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 11.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,126,747 shares of the company’s stock after selling 139,366 shares during the period. D. E. Shaw & Co. Inc. owned 1.24% of Myriad Genetics worth $27,560,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Hexagon Capital Partners LLC raised its stake in Myriad Genetics by 75.3% during the second quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock worth $28,000 after purchasing an additional 491 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of Myriad Genetics by 9.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 8,747 shares of the company’s stock worth $186,000 after buying an additional 720 shares during the period. Arizona State Retirement System boosted its holdings in Myriad Genetics by 3.4% in the second quarter. Arizona State Retirement System now owns 25,160 shares of the company’s stock valued at $615,000 after acquiring an additional 829 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Myriad Genetics by 1.5% in the second quarter. Federated Hermes Inc. now owns 56,807 shares of the company’s stock valued at $1,389,000 after acquiring an additional 846 shares during the last quarter. Finally, Texas Permanent School Fund Corp boosted its holdings in Myriad Genetics by 1.2% in the first quarter. Texas Permanent School Fund Corp now owns 77,485 shares of the company’s stock valued at $1,652,000 after acquiring an additional 889 shares during the last quarter. 99.02% of the stock is owned by institutional investors and hedge funds.

Myriad Genetics Trading Up 0.9 %

NASDAQ:MYGN opened at $26.46 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 1.96. Myriad Genetics, Inc. has a one year low of $13.82 and a one year high of $29.30. The business’s 50-day simple moving average is $27.46 and its 200 day simple moving average is $24.26. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -9.38 and a beta of 1.92.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $206.44 million. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. The company’s revenue was up 15.3% compared to the same quarter last year. As a group, sell-side analysts predict that Myriad Genetics, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Activity at Myriad Genetics

In other Myriad Genetics news, Director Heinrich Dreismann sold 10,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,290,578.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 transaction of $1,286,035.40. Following the sale, the director now directly owns 42,533 shares of the company’s stock, valued at $1,188,797.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $270,500.00. Following the completion of the transaction, the director now directly owns 121,648 shares of the company’s stock, valued at $3,290,578.40. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MYGN has been the topic of a number of research analyst reports. Wells Fargo & Company initiated coverage on Myriad Genetics in a report on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 target price on the stock. Jefferies Financial Group reiterated an “underperform” rating and issued a $20.00 target price (down previously from $25.00) on shares of Myriad Genetics in a report on Monday, June 3rd. Piper Sandler lifted their target price on Myriad Genetics from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. lifted their target price on Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley started coverage on Myriad Genetics in a report on Thursday, September 19th. They issued an “equal weight” rating and a $32.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Myriad Genetics presently has a consensus rating of “Hold” and an average target price of $28.91.

Myriad Genetics Company 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.