Voloridge Investment Management LLC Makes New $1.64 Million Investment in Myriad Genetics, Inc. (NASDAQ:MYGN)

Voloridge Investment Management LLC bought a new stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 119,221 shares of the company's stock, valued at approximately $1,635,000. Voloridge Investment Management LLC owned 0.13% of Myriad Genetics at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MYGN. Blue Trust Inc. grew its holdings in Myriad Genetics by 14.1% during 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 in the last quarter. Swiss National Bank boosted its position in shares of Myriad Genetics by 1.0% during the fourth quarter. Swiss National Bank now owns 178,600 shares of the company's stock worth $2,449,000 after acquiring an additional 1,800 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Myriad Genetics by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 646,003 shares of the company's stock valued at $8,857,000 after acquiring an additional 2,256 shares in the last quarter. Sterling Capital Management LLC increased its holdings in Myriad Genetics by 829.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock valued at $39,000 after acquiring an additional 2,556 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in Myriad Genetics by 12.2% in the 4th quarter. ProShare Advisors LLC now owns 26,982 shares of the company's stock valued at $370,000 after acquiring an additional 2,933 shares during the last quarter. 99.02% of the stock is owned by hedge funds and other institutional investors.

Myriad Genetics Trading Up 6.4%

Shares of MYGN traded up $0.27 during midday trading on Monday, hitting $4.46. The stock had a trading volume of 2,909,845 shares, compared to its average volume of 1,177,811. The stock's 50 day moving average is $6.48 and its 200 day moving average is $10.82. The firm has a market cap of $411.11 million, a PE ratio of -3.43 and a beta of 2.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. Myriad Genetics, Inc. has a 1 year low of $3.81 and a 1 year high of $29.30.

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 the consensus estimate of ($0.05) by $0.02. The company had revenue of $195.90 million for the quarter, compared to the consensus estimate of $200.37 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The firm's revenue was down 33.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) EPS. As a group, analysts forecast that Myriad Genetics, Inc. will post -0.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MYGN shares. Guggenheim lowered Myriad Genetics from a "buy" rating to a "neutral" rating in a research report on Wednesday, April 9th. Piper Sandler dropped their price target 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. Wells Fargo & Company downgraded Myriad Genetics from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $22.00 to $6.00 in a research note on Wednesday, May 7th. UBS Group decreased their price objective on Myriad Genetics from $16.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, Raymond James reiterated an "outperform" rating and set a $10.00 target price (down from $19.00) on shares of Myriad Genetics in a research report on Wednesday, May 7th. Three 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $14.79.

About Myriad Genetics

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.