Inspire Investing LLC Increases Holdings in Myriad Genetics, Inc. $MYGN

Key Points

• Inspire Investing LLC increased its holdings in Myriad Genetics by 93.3%, now owning 84,520 shares valued at approximately $449,000.
• Myriad Genetics reported a negative net margin of 47.45% and is projecting an EPS of ($0.33)-($0.28) for FY23.
• Analysts have given Myriad Genetics an average rating of "Hold" with a price target of $12.45, while Weiss Ratings issued a "sell" rating.

Inspire Investing LLC lifted its position in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 93.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,520 shares of the company's stock after purchasing an additional 40,793 shares during the quarter. Inspire Investing LLC owned about 0.09% of Myriad Genetics worth $449,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MYGN. Farther Finance Advisors LLC raised its position in Myriad Genetics by 6,192.9% during the second quarter. Farther Finance Advisors LLC now owns 5,349 shares of the company's stock valued at $28,000 after acquiring an additional 5,264 shares in the last quarter. GAMMA Investing LLC raised its position in Myriad Genetics by 520.8% during the first quarter. GAMMA Investing LLC now owns 4,470 shares of the company's stock valued at $40,000 after acquiring an additional 3,750 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of Myriad Genetics in the second quarter valued at approximately $57,000. State of Wyoming increased its position in shares of Myriad Genetics by 147.0% in the first quarter. State of Wyoming now owns 8,641 shares of the company's stock valued at $77,000 after buying an additional 5,143 shares in the last quarter. Finally, CWM LLC increased its position in shares of Myriad Genetics by 600.2% in the first quarter. CWM LLC now owns 9,796 shares of the company's stock valued at $87,000 after buying an additional 8,397 shares in the last quarter. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Myriad Genetics Stock Down 3.1%

NASDAQ:MYGN opened at $7.50 on Monday. Myriad Genetics, Inc. has a 52 week low of $3.76 and a 52 week high of $25.25. The company has a market capitalization of $697.80 million, a P/E ratio of -1.75 and a beta of 1.97. The stock's fifty day moving average is $6.72 and its two-hundred day moving average is $6.09.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last posted its earnings results on Tuesday, January 16th. The company reported ($0.19) EPS for the quarter. The business had revenue of $156.40 million during the quarter. Myriad Genetics had a negative net margin of 47.45% and a negative return on equity of 5.17%. Myriad Genetics has set its FY23 guidance at ($0.33)-($0.28) EPS. Sell-side analysts anticipate that Myriad Genetics, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Myriad Genetics in a research note on Saturday, September 27th. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $12.45.

About Myriad Genetics

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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