Renaissance Technologies LLC boosted its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 87.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 684,874 shares of the company's stock after purchasing an additional 319,500 shares during the period. Renaissance Technologies LLC owned 0.75% of Myriad Genetics worth $9,390,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of MYGN. Connor Clark & Lunn Investment Management Ltd. boosted its position in Myriad Genetics by 377.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,456 shares of the company's stock valued at $7,533,000 after buying an additional 434,420 shares during the last quarter. Artisan Partners Limited Partnership increased its position in Myriad Genetics by 13.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,766,729 shares of the company's stock worth $37,932,000 after purchasing an additional 336,770 shares during the period. Fisher Asset Management LLC raised its holdings in Myriad Genetics by 50.2% during the 4th quarter. Fisher Asset Management LLC now owns 905,209 shares of the company's stock worth $12,410,000 after purchasing an additional 302,367 shares during the last quarter. Vanguard Group Inc. lifted its position in Myriad Genetics by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 10,591,043 shares of the company's stock valued at $145,203,000 after purchasing an additional 279,379 shares during the period. Finally, Invesco Ltd. lifted its position in Myriad Genetics by 37.9% during the 4th quarter. Invesco Ltd. now owns 769,284 shares of the company's stock valued at $10,547,000 after purchasing an additional 211,503 shares during the period. Institutional investors own 99.02% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. Guggenheim lowered shares of Myriad Genetics from a "buy" rating to a "neutral" rating in a report on Wednesday, April 9th. Raymond James reiterated an "outperform" rating and issued a $19.00 price objective (down previously from $27.00) on shares of Myriad Genetics in a report on Tuesday, February 25th. Scotiabank decreased their target price on Myriad Genetics from $24.00 to $20.00 and set a "sector outperform" rating for the company in a research report on Tuesday, April 1st. StockNews.com raised shares of Myriad Genetics from a "hold" rating to a "buy" rating in a research note on Thursday, April 10th. Finally, Craig Hallum started coverage on Myriad Genetics in a research note on Wednesday, February 12th. They issued a "buy" rating and a $29.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $20.61.
Read Our Latest Stock Analysis on MYGN
Myriad Genetics Stock Performance
Shares of MYGN traded up $0.29 during mid-day trading on Wednesday, reaching $7.72. The company's stock had a trading volume of 482,073 shares, compared to its average volume of 920,828. 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, Inc. has a 1-year low of $7.28 and a 1-year high of $29.30. The business has a 50-day simple moving average of $9.98 and a two-hundred day simple moving average of $14.06. The stock has a market cap of $711.56 million, a P/E ratio of -5.94 and a beta of 1.87.
Myriad Genetics (NASDAQ:MYGN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The business had revenue of $210.60 million for the quarter, compared to analyst estimates of $210.35 million. During the same period in the prior year, the business earned ($0.12) EPS. As a group, equities research analysts anticipate that Myriad Genetics, Inc. will post -0.3 earnings per share for the current fiscal year.
About Myriad Genetics
(
Free Report)
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.
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