D. E. Shaw & Co. Inc. boosted its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 58.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,819,814 shares of the company's stock after buying an additional 668,429 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 2.00% of Myriad Genetics worth $24,950,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Sterling Capital Management LLC raised its holdings in shares of Myriad Genetics by 829.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock valued at $39,000 after purchasing an additional 2,556 shares in the last quarter. KBC Group NV raised its holdings in shares of Myriad Genetics by 132.8% in the 4th quarter. KBC Group NV now owns 5,845 shares of the company's stock valued at $80,000 after purchasing an additional 3,334 shares in the last quarter. Inspire Advisors LLC raised its holdings in shares of Myriad Genetics by 48.1% in the 4th quarter. Inspire Advisors LLC now owns 11,226 shares of the company's stock valued at $154,000 after purchasing an additional 3,644 shares in the last quarter. E Fund Management Co. Ltd. bought a new stake in shares of Myriad Genetics in the 4th quarter valued at about $161,000. Finally, Syon Capital LLC bought a new stake in shares of Myriad Genetics in the 4th quarter valued at about $176,000. Institutional investors own 99.02% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. Piper Sandler reduced their price target on shares of Myriad Genetics from $12.50 to $9.00 and set an "overweight" rating for the company in a report on Thursday. Bank of America reduced their price target on shares of Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating for the company in a report on Monday, March 3rd. StockNews.com lowered shares of Myriad Genetics from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Raymond James reiterated an "outperform" rating and set a $10.00 price objective (down previously from $19.00) on shares of Myriad Genetics in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company lowered shares of Myriad Genetics from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $22.00 to $6.00 in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $15.79.
Read Our Latest Analysis on Myriad Genetics
Myriad Genetics Stock Performance
NASDAQ:MYGN traded up $0.02 during trading hours on Friday, hitting $4.13. 2,191,893 shares of the company were exchanged, compared to its average volume of 1,111,937. The stock has a market capitalization of $380.69 million, a price-to-earnings ratio of -3.18 and a beta of 2.01. Myriad Genetics, Inc. has a 52-week low of $3.81 and a 52-week 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's 50 day moving average price is $7.74 and its 200-day moving average price is $11.88.
Myriad Genetics (NASDAQ:MYGN - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $195.90 million for the quarter, compared to the consensus estimate of $200.37 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. Myriad Genetics's revenue was down 33.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) EPS. As a group, research analysts forecast that Myriad Genetics, Inc. will post -0.3 earnings per share for the current year.
About Myriad Genetics
(
Free Report)
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.
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