Mirae Asset Global Investments Co. Ltd. Cuts Stock Holdings in Myriad Genetics, Inc. (NASDAQ:MYGN)

Mirae Asset Global Investments Co. Ltd. trimmed its stake in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 55.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 185,483 shares of the company's stock after selling 228,288 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.23% of Myriad Genetics worth $3,550,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MYGN. China Universal Asset Management Co. Ltd. lifted its stake in shares of Myriad Genetics by 96.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,101 shares of the company's stock valued at $34,000 after purchasing an additional 1,032 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Myriad Genetics by 29.0% in the 3rd quarter. Royal Bank of Canada now owns 2,339 shares of the company's stock valued at $44,000 after purchasing an additional 526 shares during the last quarter. Natixis bought a new stake in shares of Myriad Genetics in the 4th quarter valued at approximately $44,000. Point72 Hong Kong Ltd lifted its stake in shares of Myriad Genetics by 722.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,217 shares of the company's stock valued at $58,000 after purchasing an additional 2,826 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Myriad Genetics by 99.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,654 shares of the company's stock worth $62,000 after acquiring an additional 1,326 shares during the last quarter. 99.02% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MYGN. The Goldman Sachs Group raised their price target on Myriad Genetics from $28.00 to $31.00 and gave the stock a "buy" rating in a research note on Monday, January 29th. Wells Fargo & Company began coverage on Myriad Genetics in a research note on Tuesday, December 19th. They set an "equal weight" rating and a $20.00 price target for the company. Finally, Piper Sandler began coverage on Myriad Genetics in a research note on Thursday, December 21st. They set a "neutral" rating and a $23.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $23.17.

Myriad Genetics Trading Down 1.5 %

MYGN traded down $0.28 during trading on Wednesday, hitting $18.64. 546,808 shares of the stock were exchanged, compared to its average volume of 628,560. The firm has a 50 day simple moving average of $21.68 and a 200 day simple moving average of $19.46. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -5.82 and a beta of 1.95. Myriad Genetics, Inc. has a 1 year low of $13.82 and a 1 year high of $24.21. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.87 and a current ratio of 2.01.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. The company had revenue of $196.60 million for the quarter, compared to the consensus estimate of $194.80 million. Myriad Genetics had a negative return on equity of 8.03% and a negative net margin of 34.96%. Myriad Genetics's quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted ($0.20) EPS. As a group, equities analysts expect that Myriad Genetics, Inc. will post -0.36 EPS for the current year.

Myriad Genetics 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.