Jane Street Group LLC Sells 103,013 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Jane Street Group LLC reduced its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 85.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,168 shares of the company's stock after selling 103,013 shares during the quarter. Jane Street Group LLC's holdings in Myriad Genetics were worth $249,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MYGN. Vanguard Group Inc. boosted its stake in shares of Myriad Genetics by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 10,591,043 shares of the company's stock worth $145,203,000 after acquiring an additional 279,379 shares in the last quarter. Earnest Partners LLC boosted its stake in shares of Myriad Genetics by 0.4% during the 4th quarter. Earnest Partners LLC now owns 3,971,598 shares of the company's stock worth $54,451,000 after acquiring an additional 15,650 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Myriad Genetics by 13.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,766,729 shares of the company's stock worth $37,932,000 after acquiring an additional 336,770 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Myriad Genetics by 7.4% during the 4th quarter. Sei Investments Co. now owns 2,526,761 shares of the company's stock worth $34,642,000 after acquiring an additional 174,770 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Myriad Genetics by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,125,535 shares of the company's stock worth $15,431,000 after acquiring an additional 42,233 shares in the last quarter. 99.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MYGN shares. Bank of America reduced their price objective on Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating for the company in a research note on Monday, March 3rd. Wolfe Research cut Myriad Genetics from an "outperform" rating to a "peer perform" rating in a research report on Thursday, May 8th. Scotiabank cut Myriad Genetics from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the stock from $20.00 to $6.00 in a research report on Wednesday, May 21st. Piper Sandler decreased their target price on Myriad Genetics from $12.50 to $9.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. Finally, Wells Fargo & Company cut Myriad Genetics from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $22.00 to $6.00 in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $14.38.

Myriad Genetics Stock Up 3.5%

Shares of NASDAQ:MYGN traded up $0.17 during midday trading on Friday, hitting $5.09. 1,685,827 shares of the stock were exchanged, compared to its average volume of 1,216,036. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. Myriad Genetics, Inc. has a 52-week low of $3.81 and a 52-week high of $29.30. The business's fifty day simple moving average is $6.17 and its two-hundred day simple moving average is $10.54. The company has a market capitalization of $469.18 million, a PE ratio of -3.92 and a beta of 1.84.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The company had revenue of $195.90 million during the quarter, compared to analysts' expectations of $200.37 million. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. The business's quarterly revenue was down 33.6% compared to the same quarter last year. As a group, research analysts predict 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.