Myriad Genetics, Inc. (NASDAQ:MYGN) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 48.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 84,387 shares of the company's stock after selling 80,080 shares during the quarter. Assenagon Asset Management S.A. owned 0.09% of Myriad Genetics worth $749,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Rhumbline Advisers lifted its holdings in Myriad Genetics by 4.4% during the 4th quarter. Rhumbline Advisers now owns 289,502 shares of the company's stock worth $3,969,000 after buying an additional 12,144 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Myriad Genetics by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 441,387 shares of the company's stock worth $6,051,000 after acquiring an additional 13,364 shares during the period. Peregrine Capital Management LLC raised its stake in shares of Myriad Genetics by 12.1% in the fourth quarter. Peregrine Capital Management LLC now owns 342,845 shares of the company's stock valued at $4,700,000 after acquiring an additional 36,958 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Myriad Genetics by 12.3% in the fourth quarter. New York State Common Retirement Fund now owns 147,969 shares of the company's stock valued at $2,029,000 after acquiring an additional 16,249 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in Myriad Genetics by 12.8% in the fourth quarter. Handelsbanken Fonder AB now owns 30,788 shares of the company's stock valued at $422,000 after purchasing an additional 3,500 shares during the period. Hedge funds and other institutional investors own 99.02% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MYGN. Wells Fargo & Company downgraded Myriad Genetics from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $22.00 to $6.00 in a report on Wednesday, May 7th. Piper Sandler cut their target price on shares of Myriad Genetics from $12.50 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. Wolfe Research cut shares of Myriad Genetics from an "outperform" rating to a "peer perform" rating in a report on Thursday, May 8th. Scotiabank downgraded shares of Myriad Genetics from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the stock from $20.00 to $6.00 in a research note on Wednesday, May 21st. Finally, The Goldman Sachs Group lowered their price target on shares of Myriad Genetics from $14.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $14.38.

Myriad Genetics Stock Up 1.8%

Shares of Myriad Genetics stock traded up $0.09 during trading hours on Thursday, hitting $5.07. The company had a trading volume of 1,987,158 shares, compared to its average volume of 1,241,457. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.90 and a quick ratio of 1.71. The company's 50-day moving average is $5.67 and its two-hundred day moving average is $10.01. The company has a market cap of $467.35 million, a P/E ratio of -4.53 and a beta of 1.84. Myriad Genetics, Inc. has a twelve month low of $3.81 and a twelve month high of $29.30.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. The company had revenue of $195.90 million during the quarter, compared to the consensus estimate of $200.37 million. Myriad Genetics had a negative net margin of 12.20% and a negative return on equity of 4.95%. Myriad Genetics's revenue for the quarter was down 33.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. Analysts anticipate that Myriad Genetics, Inc. will post -0.3 earnings per share for the current fiscal 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.