Y Intercept Hong Kong Ltd Buys 60,317 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Y Intercept Hong Kong Ltd increased its stake in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 114.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,984 shares of the company's stock after acquiring an additional 60,317 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.12% of Myriad Genetics worth $1,002,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MYGN. Swiss National Bank boosted its holdings in Myriad Genetics by 1.0% during the 4th 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. Teacher Retirement System of Texas boosted its holdings in Myriad Genetics by 18.8% during the 4th quarter. Teacher Retirement System of Texas now owns 26,957 shares of the company's stock worth $370,000 after acquiring an additional 4,257 shares during the last quarter. Quantbot Technologies LP boosted its holdings in Myriad Genetics by 236.6% during the 4th quarter. Quantbot Technologies LP now owns 18,745 shares of the company's stock worth $257,000 after acquiring an additional 13,176 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Myriad Genetics during the 4th quarter worth $247,000. Finally, Vanguard Group Inc. boosted its holdings in 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 during the last quarter. Institutional investors and hedge funds own 99.02% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group cut their price target on shares of Myriad Genetics from $14.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Raymond James Financial reissued an "outperform" rating and issued a $10.00 price target (down from $19.00) on shares of Myriad Genetics in a report on Wednesday, May 7th. Wall Street Zen downgraded shares of Myriad Genetics from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Wolfe Research downgraded shares of Myriad Genetics from an "outperform" rating to a "peer perform" rating in a report on Thursday, May 8th. Finally, Guggenheim downgraded shares of Myriad Genetics from a "buy" rating to a "neutral" rating in a report on Wednesday, April 9th. Two 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's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $14.38.

Myriad Genetics Price Performance

Shares of MYGN traded down $0.06 during midday trading on Monday, hitting $4.40. 358,694 shares of the company traded hands, compared to its average volume of 1,629,092. The stock has a 50-day moving average of $4.90 and a 200-day moving average of $8.21. Myriad Genetics, Inc. has a one year low of $3.81 and a one year high of $29.30. The firm has a market cap of $405.13 million, a P/E ratio of -3.92 and a beta of 1.91. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.90 and a quick ratio of 1.71.

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, beating the consensus estimate of ($0.05) by $0.02. Myriad Genetics had a negative return on equity of 4.95% and a negative net margin of 12.20%. The firm had revenue of $195.90 million for the quarter, compared to analysts' expectations of $200.37 million. During the same period in the prior year, the business posted ($0.01) earnings per share. The company's revenue was down 33.6% on a year-over-year basis. As a group, 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.