Blue Trust Inc. Boosts Stock Holdings in Myriad Genetics, Inc. (NASDAQ:MYGN)

Blue Trust Inc. lifted its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN) by 14.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,451 shares of the company’s stock after purchasing an additional 1,788 shares during the period. Blue Trust Inc.’s holdings in Myriad Genetics were worth $198,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new position in Myriad Genetics in the third quarter worth approximately $32,000. GAMMA Investing LLC increased its holdings in shares of Myriad Genetics by 34.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after acquiring an additional 412 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Myriad Genetics by 21.6% in the 3rd 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. lifted its stake in shares of Myriad Genetics by 43.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock worth $132,000 after purchasing an additional 1,471 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its position in Myriad Genetics by 588.4% during the third quarter. Meeder Asset Management Inc. now owns 4,922 shares of the company’s stock valued at $135,000 after purchasing an additional 4,207 shares in the last quarter. 99.02% of the stock is currently owned by institutional investors.

Myriad Genetics Stock Down 2.8 %

Myriad Genetics stock opened at $12.41 on Wednesday. The business’s 50-day moving average price is $13.95 and its 200 day moving average price is $20.72. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -9.55 and a beta of 1.88. Myriad Genetics, Inc. has a 52 week low of $12.04 and a 52 week high of $29.30.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). The firm had revenue of $213.30 million for the quarter, compared to analysts’ expectations of $209.82 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same period last year, the company posted ($0.17) earnings per share. As a group, sell-side analysts anticipate that Myriad Genetics, Inc. will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MYGN shares. Piper Sandler cut their price objective on shares of Myriad Genetics from $24.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Leerink Partnrs downgraded Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Morgan Stanley decreased their price target on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Leerink Partners lowered Myriad Genetics from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $30.00 to $21.00 in a research note on Monday, December 9th. Finally, UBS Group initiated coverage on shares of Myriad Genetics in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.00.

Myriad Genetics 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.