Rhumbline Advisers Raises Stake in Myriad Genetics, Inc. (NASDAQ:MYGN)

Rhumbline Advisers raised its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 289,502 shares of the company’s stock after purchasing an additional 12,144 shares during the quarter. Rhumbline Advisers owned approximately 0.32% of Myriad Genetics worth $3,969,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Point72 Hong Kong Ltd bought a new position in shares of Myriad Genetics in the third quarter valued at approximately $32,000. KBC Group NV raised its stake in shares of Myriad Genetics by 132.8% during the fourth quarter. KBC Group NV now owns 5,845 shares of the company’s stock worth $80,000 after acquiring an additional 3,334 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Myriad Genetics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock worth $87,000 after acquiring an additional 583 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Myriad Genetics by 43.8% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock worth $132,000 after acquiring an additional 1,471 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of Myriad Genetics by 588.4% in the third quarter. Meeder Asset Management Inc. now owns 4,922 shares of the company’s stock worth $135,000 after buying an additional 4,207 shares during the period. 99.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MYGN shares. Stephens reiterated an “equal weight” rating and issued a $20.00 price target on shares of Myriad Genetics in a report on Thursday, January 16th. Leerink Partners lowered Myriad Genetics from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $30.00 to $21.00 in a research report on Monday, December 9th. Craig Hallum assumed coverage on Myriad Genetics in a research report on Wednesday, February 12th. They issued a “buy” rating and a $29.00 price target for the company. Piper Sandler decreased their target price on Myriad Genetics from $24.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Finally, StockNews.com lowered shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Saturday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Myriad Genetics has a consensus rating of “Hold” and a consensus target price of $22.14.

Myriad Genetics Trading Down 3.0 %

MYGN stock opened at $10.73 on Friday. Myriad Genetics, Inc. has a 1-year low of $9.76 and a 1-year high of $29.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The company has a market capitalization of $976.81 million, a price-to-earnings ratio of -8.25 and a beta of 1.88. The business has a 50 day simple moving average of $13.28 and a two-hundred day simple moving average of $19.04.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). The business had revenue of $210.60 million during the quarter, compared to the consensus estimate of $210.35 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same quarter in the previous year, the company earned ($0.12) earnings per share. Research analysts anticipate that Myriad Genetics, Inc. will post -0.3 EPS for the current fiscal 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.