Myriad Genetics, Inc. (NASDAQ:MYGN) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 10.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,004,598 shares of the company's stock after selling 711,985 shares during the quarter. Wellington Management Group LLP owned 6.58% of Myriad Genetics worth $82,323,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MYGN. Sterling Capital Management LLC lifted its position in Myriad Genetics by 829.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock worth $39,000 after purchasing an additional 2,556 shares during the period. KBC Group NV increased its stake in shares of Myriad Genetics by 132.8% in the fourth 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 in the last quarter. Inspire Advisors LLC increased its position 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 during the period. E Fund Management Co. Ltd. acquired a new stake in Myriad Genetics in the fourth quarter worth about $161,000. Finally, Syon Capital LLC acquired a new stake in Myriad Genetics in the fourth quarter worth about $176,000. Institutional investors and hedge funds own 99.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MYGN. Guggenheim cut Myriad Genetics from a "buy" rating to a "neutral" rating in a report on Wednesday, April 9th. 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. Bank of America reduced their target price on Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating on the stock in a report on Monday, March 3rd. Wolfe Research lowered Myriad Genetics from an "outperform" rating to a "peer perform" rating in a report on Thursday, May 8th. Finally, Piper Sandler dropped their price objective 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. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $14.79.

Myriad Genetics Price Performance

MYGN stock traded up $0.02 during trading on Friday, reaching $4.18. The company's stock had a trading volume of 2,422,982 shares, compared to its average volume of 1,168,583. Myriad Genetics, Inc. has a 1 year low of $3.81 and a 1 year high of $29.30. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $385.30 million, a P/E ratio of -3.22 and a beta of 2.01. The company's fifty day moving average is $6.58 and its 200-day moving average is $10.97.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last announced 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 firm had revenue of $195.90 million during 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 for the quarter was down 33.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.01) EPS. On average, research analysts expect 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.