Aberdeen Group plc Purchases 246,748 Shares of Myriad Genetics, Inc. $MYGN

Key Points

• Aberdeen Group plc increased its Myriad Genetics stake by 38.6%, buying 246,748 shares to hold 885,801 shares (about 0.95% of the company) valued at roughly $5.45 million.
• Insider buying — CEO Samraat S. Raha bought 40,000 shares at $5.00 and Director S. Louise Phanstiel bought 48,000 shares at $4.66; insiders purchased 144,507 shares totaling $694,548 in the last 90 days and now own 2.40% of the stock.
• Analyst sentiment is mixed with an average "Hold" rating and a $8.94 target (several firms cut targets to $6), while the stock trades at $4.77 (52‑week range $3.76–$8.59), has a market cap of $446M and negative earnings metrics.

Aberdeen Group plc raised its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 38.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 885,801 shares of the company's stock after purchasing an additional 246,748 shares during the quarter. Aberdeen Group plc owned 0.95% of Myriad Genetics worth $5,448,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MYGN. Jacobs Levy Equity Management Inc. grew its stake in shares of Myriad Genetics by 157.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,442,912 shares of the company's stock valued at $17,662,000 after purchasing an additional 1,492,405 shares during the period. Kent Lake PR LLC bought a new stake in shares of Myriad Genetics during the 2nd quarter valued at about $6,638,000. Federated Hermes Inc. grew its stake in shares of Myriad Genetics by 103,916.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,122,333 shares of the company's stock valued at $5,960,000 after purchasing an additional 1,121,254 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Myriad Genetics by 301.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,304,163 shares of the company's stock valued at $9,429,000 after purchasing an additional 979,133 shares during the period. Finally, Algert Global LLC bought a new stake in shares of Myriad Genetics during the 3rd quarter valued at about $6,601,000. 99.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MYGN shares. UBS Group cut their price target on Myriad Genetics from $8.00 to $6.00 and set a "neutral" rating for the company in a research note on Tuesday, February 24th. Wells Fargo & Company cut their price target on Myriad Genetics from $6.50 to $6.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 24th. Zacks Research raised Myriad Genetics from a "strong sell" rating to a "hold" rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Myriad Genetics in a research report on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Myriad Genetics presently has an average rating of "Hold" and an average target price of $8.94.

Myriad Genetics Stock Performance

NASDAQ:MYGN opened at $4.77 on Thursday. The stock's fifty day moving average is $4.81 and its 200 day moving average is $6.25. Myriad Genetics, Inc. has a fifty-two week low of $3.76 and a fifty-two week high of $8.59. The firm has a market capitalization of $446.04 million, a PE ratio of -1.21 and a beta of 1.86. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.26 and a current ratio of 2.49.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last released its quarterly earnings results on Monday, February 23rd. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. Myriad Genetics had a negative return on equity of 6.35% and a negative net margin of 44.38%.The company had revenue of $209.80 million for the quarter, compared to analyst estimates of $207.57 million. During the same quarter in the prior year, the firm posted $0.03 EPS. Myriad Genetics's quarterly revenue was down .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Myriad Genetics, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling at Myriad Genetics

In related news, CEO Samraat S. Raha purchased 40,000 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The shares were bought at an average price of $5.00 per share, for a total transaction of $200,000.00. Following the acquisition, the chief executive officer owned 493,104 shares of the company's stock, valued at approximately $2,465,520. This represents a 8.83% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director S. Louise Phanstiel purchased 48,000 shares of the firm's stock in a transaction that occurred on Friday, February 27th. The shares were bought at an average price of $4.66 per share, for a total transaction of $223,680.00. Following the acquisition, the director directly owned 281,951 shares in the company, valued at $1,313,891.66. This trade represents a 20.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 144,507 shares of company stock worth $694,548 in the last 90 days. 2.40% of the stock is currently owned by insiders.

About Myriad Genetics

Myriad Genetics NASDAQ: MYGN is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual's risk for various hereditary conditions and to guide personalized treatment decisions. The company's core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women's health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.

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