Myriad Genetics, Inc. $MYGN Shares Purchased by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its holdings in Myriad Genetics by 19.5% in Q2, acquiring an additional 65,781 shares for a total of 402,910 shares valued at approximately $2.15 million.
• As of the latest reports, 99.02% of Myriad Genetics' stock is owned by institutional investors and hedge funds, indicating significant institutional confidence in the company.
• Analysts have given Myriad Genetics a mixed rating with an average price target of $12.45, while also noting a negative EPS forecast for the current fiscal year.

Nordea Investment Management AB raised its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 19.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 402,910 shares of the company's stock after purchasing an additional 65,781 shares during the period. Nordea Investment Management AB owned about 0.44% of Myriad Genetics worth $2,152,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MYGN. Nuveen LLC acquired a new position in shares of Myriad Genetics in the 1st quarter valued at about $10,437,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Myriad Genetics by 67.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 921,911 shares of the company's stock worth $8,177,000 after acquiring an additional 372,455 shares during the last quarter. AQR Capital Management LLC boosted its stake in Myriad Genetics by 278.9% in the first quarter. AQR Capital Management LLC now owns 433,392 shares of the company's stock valued at $3,844,000 after acquiring an additional 319,007 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Myriad Genetics by 285.2% during the second quarter. Assenagon Asset Management S.A. now owns 325,030 shares of the company's stock valued at $1,726,000 after purchasing an additional 240,643 shares during the last quarter. Finally, Aberdeen Group plc acquired a new stake in shares of Myriad Genetics during the 2nd quarter worth approximately $1,219,000. 99.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Myriad Genetics in a research report on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $12.45.

Myriad Genetics Trading Down 2.5%

MYGN opened at $7.86 on Thursday. The business's 50 day moving average is $7.11 and its 200-day moving average is $6.08. The stock has a market cap of $731.29 million, a PE ratio of -1.84 and a beta of 1.97. Myriad Genetics, Inc. has a twelve month low of $3.76 and a twelve month high of $23.00.

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. Myriad Genetics had a negative net margin of 47.45% and a negative return on equity of 5.17%. The business had revenue of $156.40 million during the quarter. Myriad Genetics has set its FY23 guidance at ($0.33)-($0.28) EPS. As a group, analysts forecast that Myriad Genetics, Inc. will post -0.3 EPS for the current 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.

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