Myriad Genetics, Inc. (NASDAQ:MYGN) Shares Purchased by Headlands Technologies LLC

Headlands Technologies LLC raised its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN) by 260.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,769 shares of the company’s stock after acquiring an additional 15,731 shares during the period. Headlands Technologies LLC’s holdings in Myriad Genetics were worth $298,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Myriad Genetics by 43.8% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock valued at $132,000 after purchasing an additional 1,471 shares during the last quarter. Blue Trust Inc. grew its holdings in Myriad Genetics by 14.1% in the 4th quarter. Blue Trust Inc. now owns 14,451 shares of the company’s stock valued at $198,000 after buying an additional 1,788 shares in the last quarter. Swiss National Bank increased its stake in shares of Myriad Genetics by 1.0% in 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. Bank of New York Mellon Corp raised its holdings in shares of Myriad Genetics by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 646,003 shares of the company’s stock worth $8,857,000 after acquiring an additional 2,256 shares during the period. Finally, KBC Group NV boosted its position in shares of Myriad Genetics by 132.8% during the 4th quarter. KBC Group NV now owns 5,845 shares of the company’s stock valued at $80,000 after acquiring an additional 3,334 shares during the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Trading Down 3.3 %

MYGN opened at $8.13 on Friday. The business has a fifty day moving average price of $11.36 and a 200 day moving average price of $15.93. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. Myriad Genetics, Inc. has a 12 month low of $7.88 and a 12 month high of $29.30. The stock has a market capitalization of $742.34 million, a price-to-earnings ratio of -6.25 and a beta of 1.79.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Bank of America decreased their target price 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. Leerink Partnrs lowered Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. StockNews.com cut Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Wednesday. Raymond James reissued an “outperform” rating and set a $19.00 price objective (down from $27.00) on shares of Myriad Genetics in a research report on Tuesday, February 25th. Finally, UBS Group reduced their price objective on shares of Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.89.

About Myriad Genetics

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.