Assenagon Asset Management S.A. Sells 2,766 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Assenagon Asset Management S.A. reduced its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 1.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 164,467 shares of the company’s stock after selling 2,766 shares during the period. Assenagon Asset Management S.A. owned about 0.18% of Myriad Genetics worth $2,255,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its holdings in shares of Myriad Genetics by 117.0% during the fourth quarter. Nordea Investment Management AB now owns 332,913 shares of the company’s stock worth $4,548,000 after buying an additional 179,527 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Myriad Genetics by 8.8% in the third quarter. Franklin Resources Inc. now owns 58,055 shares of the company’s stock valued at $1,457,000 after buying an additional 4,710 shares during the last quarter. Geode Capital Management LLC lifted its position in Myriad Genetics by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,154,035 shares of the company’s stock worth $59,010,000 after buying an additional 21,220 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its position in Myriad Genetics by 21.1% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock worth $69,226,000 after buying an additional 440,107 shares in the last quarter. Finally, Barclays PLC grew its holdings in Myriad Genetics by 136.9% during the 3rd quarter. Barclays PLC now owns 190,243 shares of the company’s stock worth $5,210,000 after acquiring an additional 109,931 shares during the last quarter. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler dropped 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. Leerink Partnrs cut shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. UBS Group initiated coverage on Myriad Genetics in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 price objective on the stock. Bank of America dropped their target price on Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating for the company in a research report on Friday, December 13th. Finally, Morgan Stanley cut their price target on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.92.

Myriad Genetics Trading Down 2.3 %

NASDAQ:MYGN opened at $12.28 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. Myriad Genetics, Inc. has a 1-year low of $12.17 and a 1-year high of $29.30. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -9.45 and a beta of 1.89. The business’s 50-day moving average price is $14.44 and its two-hundred day moving average price is $21.61.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). The firm had revenue of $213.30 million during the quarter, compared to analyst estimates of $209.82 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. During the same quarter in the prior year, the business earned ($0.17) earnings per share. On average, equities analysts expect that Myriad Genetics, Inc. will post -0.28 earnings per share for the current year.

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.