119,221 Shares in Myriad Genetics, Inc. (NASDAQ:MYGN) Purchased by Voloridge Investment Management LLC

Voloridge Investment Management LLC acquired a new position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 119,221 shares of the company's stock, valued at approximately $1,635,000. Voloridge Investment Management LLC owned 0.13% of Myriad Genetics as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MYGN. Barclays PLC grew its stake in shares of Myriad Genetics by 136.9% during the third quarter. Barclays PLC now owns 190,243 shares of the company's stock worth $5,210,000 after purchasing an additional 109,931 shares during the period. Blue Trust Inc. grew its stake in shares of Myriad Genetics by 14.1% during the fourth quarter. Blue Trust Inc. now owns 14,451 shares of the company's stock worth $198,000 after purchasing an additional 1,788 shares during the period. KBC Group NV grew its stake in shares of Myriad Genetics by 132.8% during the fourth quarter. KBC Group NV now owns 5,845 shares of the company's stock worth $80,000 after purchasing an additional 3,334 shares during the period. Jennison Associates LLC grew its stake in shares of Myriad Genetics by 144.2% during the fourth quarter. Jennison Associates LLC now owns 59,015 shares of the company's stock worth $809,000 after purchasing an additional 34,853 shares during the period. Finally, Entropy Technologies LP acquired a new position in Myriad Genetics in the fourth quarter valued at about $178,000. 99.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MYGN has been the subject of a number of research analyst reports. 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 note on Thursday, May 15th. The Goldman Sachs Group decreased their target price on Myriad Genetics from $14.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Guggenheim cut Myriad Genetics from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 9th. Wells Fargo & Company cut Myriad Genetics from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $22.00 to $6.00 in a research note on Wednesday, May 7th. Finally, Raymond James reissued an "outperform" rating and issued a $10.00 target price (down from $19.00) on shares of Myriad Genetics in a research note on Wednesday, May 7th. Three investment 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. According to MarketBeat.com, Myriad Genetics presently has a consensus rating of "Hold" and a consensus price target of $14.79.

Myriad Genetics Stock Up 0.5%

Shares of Myriad Genetics stock traded up $0.02 during trading on Friday, reaching $4.18. The stock had a trading volume of 2,422,982 shares, compared to its average volume of 1,170,877. The company has a market capitalization of $385.30 million, a price-to-earnings ratio of -3.22 and a beta of 2.01. The stock has a fifty day moving average price of $6.58 and a two-hundred day moving average price of $10.93. 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 1.73 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. The company had revenue of $195.90 million for the quarter, compared to analyst estimates 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 previous year, the company posted ($0.01) earnings per share. Sell-side analysts predict that Myriad Genetics, Inc. will post -0.3 EPS 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.