Essex Investment Management Co. LLC Sells 119,132 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Essex Investment Management Co. LLC decreased its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN) by 50.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,709 shares of the company’s stock after selling 119,132 shares during the period. Essex Investment Management Co. LLC owned about 0.13% of Myriad Genetics worth $1,600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MYGN. Point72 Hong Kong Ltd purchased a new position in Myriad Genetics in the 3rd quarter worth about $32,000. KBC Group NV increased its position in shares of Myriad Genetics by 132.8% during the fourth quarter. KBC Group NV now owns 5,845 shares of the company’s stock worth $80,000 after acquiring an additional 3,334 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Myriad Genetics by 43.8% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock valued at $132,000 after acquiring an additional 1,471 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Myriad Genetics by 588.4% in the third quarter. Meeder Asset Management Inc. now owns 4,922 shares of the company’s stock valued at $135,000 after purchasing an additional 4,207 shares during the period. Finally, Quantbot Technologies LP bought a new position in Myriad Genetics in the third quarter worth approximately $153,000. 99.02% of the stock is currently owned by institutional investors.

Myriad Genetics Stock Down 3.2 %

Myriad Genetics stock opened at $10.18 on Monday. Myriad Genetics, Inc. has a 1-year low of $9.76 and a 1-year high of $29.30. The business has a fifty day moving average price of $12.95 and a 200-day moving average price of $18.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The stock has a market capitalization of $929.53 million, a price-to-earnings ratio of -7.83 and a beta of 1.79.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The business had revenue of $210.60 million during the quarter, compared to analyst estimates of $210.35 million. During the same period in the prior year, the business posted ($0.12) EPS. Equities research analysts forecast that Myriad Genetics, Inc. will post -0.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MYGN shares. Leerink Partners lowered Myriad Genetics from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $30.00 to $21.00 in a research report on Monday, December 9th. UBS Group lowered their price objective on shares of Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. StockNews.com downgraded shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st. Raymond James reaffirmed an “outperform” rating and issued a $19.00 price target (down previously from $27.00) on shares of Myriad Genetics in a research report on Tuesday, February 25th. Finally, Bank of America cut their price objective on shares of Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating on the stock in a report on Monday, March 3rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $21.82.

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.