Point72 Asset Management L.P. Sells 715,107 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Point72 Asset Management L.P. lowered its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 67.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 348,604 shares of the company's stock after selling 715,107 shares during the period. Point72 Asset Management L.P. owned about 0.38% of Myriad Genetics worth $4,779,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MYGN. Barclays PLC grew its position in shares of Myriad Genetics by 136.9% in the 3rd quarter. Barclays PLC now owns 190,243 shares of the company's stock valued at $5,210,000 after buying an additional 109,931 shares during the last quarter. Inspire Investing LLC grew its position in shares of Myriad Genetics by 84.9% in the 4th quarter. Inspire Investing LLC now owns 31,373 shares of the company's stock valued at $430,000 after buying an additional 14,406 shares during the last quarter. Blue Trust Inc. grew its position in shares of Myriad Genetics by 14.1% in the 4th quarter. Blue Trust Inc. now owns 14,451 shares of the company's stock valued at $198,000 after buying an additional 1,788 shares during the last quarter. KBC Group NV grew its position in shares of Myriad Genetics by 132.8% in the 4th quarter. KBC Group NV now owns 5,845 shares of the company's stock valued at $80,000 after buying an additional 3,334 shares during the last quarter. Finally, Jennison Associates LLC grew its position in shares of Myriad Genetics by 144.2% in the 4th quarter. Jennison Associates LLC now owns 59,015 shares of the company's stock valued at $809,000 after buying an additional 34,853 shares during the last quarter. Institutional investors own 99.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Piper Sandler reduced their price target on Myriad Genetics from $12.50 to $9.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Craig Hallum set a $18.00 target price on Myriad Genetics and gave the company a "buy" rating in a research report on Wednesday, May 7th. Bank of America cut their target price on Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group cut their target price on Myriad Genetics from $14.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, StockNews.com lowered Myriad Genetics from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Myriad Genetics currently has a consensus rating of "Hold" and a consensus target price of $15.79.

Myriad Genetics Stock Performance

Shares of Myriad Genetics stock opened at $4.43 on Tuesday. The company has a market cap of $408.34 million, a PE ratio of -3.41 and a beta of 2.01. Myriad Genetics, Inc. has a 52 week low of $3.81 and a 52 week high of $29.30. The business has a 50 day moving average price of $7.62 and a 200-day moving average price of $11.71. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $195.90 million during the quarter, compared to the consensus estimate of $200.37 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The company's quarterly revenue was down 33.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) earnings per share. Equities 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.

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