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Assenagon Asset Management S.A. Cuts Stock Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Myriad Genetics logo with Medical background

Assenagon Asset Management S.A. lessened its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 48.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,387 shares of the company's stock after selling 80,080 shares during the period. 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 bought and sold shares of MYGN. Sterling Capital Management LLC raised its position 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 worth $39,000 after acquiring an additional 2,556 shares in the last quarter. GAMMA Investing LLC grew its stake in Myriad Genetics by 520.8% during the first quarter. GAMMA Investing LLC now owns 4,470 shares of the company's stock worth $40,000 after purchasing an additional 3,750 shares during the period. Inspire Advisors LLC increased its holdings in Myriad Genetics by 48.1% in the fourth quarter. Inspire Advisors LLC now owns 11,226 shares of the company's stock worth $154,000 after purchasing an additional 3,644 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in Myriad Genetics in the fourth quarter valued at approximately $161,000. Finally, Syon Capital LLC bought a new position in shares of Myriad Genetics during the 4th quarter worth approximately $176,000. Institutional investors and hedge funds own 99.02% of the company's stock.

Myriad Genetics Stock Down 3.0%

Myriad Genetics stock traded down $0.15 during trading on Friday, hitting $4.92. 3,159,244 shares of the company were exchanged, compared to its average volume of 1,244,260. The company has a market capitalization of $453.53 million, a P/E ratio of -4.39 and a beta of 1.84. The business's 50 day moving average is $5.55 and its 200 day moving average is $9.81. Myriad Genetics, Inc. has a 52 week low of $3.81 and a 52 week high of $29.30. The company has a current ratio of 1.90, a quick ratio of 1.71 and a debt-to-equity ratio of 0.08.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on MYGN. Piper Sandler dropped 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 report on Thursday, May 15th. Wolfe Research downgraded shares of Myriad Genetics from an "outperform" rating to a "peer perform" rating in a research note on Thursday, May 8th. Craig Hallum set a $18.00 target price on Myriad Genetics and gave the company a "buy" rating in a research note on Wednesday, May 7th. Bank of America decreased their target price on Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating for the company in a research report on Monday, March 3rd. Finally, UBS Group cut their price target on Myriad Genetics from $16.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $14.38.

View Our Latest Stock Report on Myriad Genetics

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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Institutional Ownership by Quarter for Myriad Genetics (NASDAQ:MYGN)

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