Myriad Genetics, Inc. (NASDAQ:MYGN) Shares Purchased by Peregrine Capital Management LLC

Peregrine Capital Management LLC raised its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,217 shares of the company’s stock after acquiring an additional 3,960 shares during the period. Peregrine Capital Management LLC owned 0.34% of Myriad Genetics worth $7,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of MYGN. Hexagon Capital Partners LLC lifted its holdings in shares of Myriad Genetics by 75.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock valued at $28,000 after purchasing an additional 491 shares during the last quarter. Innealta Capital LLC purchased a new stake in Myriad Genetics in the second quarter valued at approximately $36,000. Neo Ivy Capital Management acquired a new stake in shares of Myriad Genetics in the second quarter valued at approximately $85,000. Ameritas Investment Partners Inc. grew its position in shares of Myriad Genetics by 9.0% during the first quarter. Ameritas Investment Partners Inc. now owns 8,747 shares of the company’s stock worth $186,000 after acquiring an additional 720 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Myriad Genetics by 90.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,805 shares of the company’s stock valued at $188,000 after acquiring an additional 4,193 shares during the period. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Price Performance

MYGN stock traded up $0.01 during midday trading on Friday, hitting $28.33. 883,549 shares of the stock were exchanged, compared to its average volume of 719,194. The stock’s 50-day moving average price is $26.67 and its 200-day moving average price is $23.58. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.99. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -10.05 and a beta of 1.95. Myriad Genetics, Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $29.08.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. The business had revenue of $211.50 million during the quarter, compared to the consensus estimate of $206.44 million. Myriad Genetics had a negative return on equity of 6.77% and a negative net margin of 30.30%. The business’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.21) EPS. Research analysts predict that Myriad Genetics, Inc. will post -0.36 earnings per share for the current year.

Analyst Ratings Changes

MYGN has been the topic of several research reports. Leerink Partners raised shares of Myriad Genetics from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $25.00 to $35.00 in a research report on Wednesday, May 8th. Scotiabank boosted their price target on Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 13th. Wells Fargo & Company initiated coverage on Myriad Genetics in a research report on Tuesday. They set an “overweight” rating and a $35.00 price objective for the company. Jefferies Financial Group reissued an “underperform” rating and issued a $20.00 target price (down previously from $25.00) on shares of Myriad Genetics in a report on Monday, June 3rd. Finally, Piper Sandler increased their price target on Myriad Genetics from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.60.

Insider Buying and Selling at Myriad Genetics

In other news, Director Daniel K. Spiegelman sold 3,788 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $22.04, for a total transaction of $83,487.52. Following the completion of the transaction, the director now directly owns 36,705 shares of the company’s stock, valued at approximately $808,978.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.10% of the company’s stock.

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.