Comerica Bank Lowers Stock Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Comerica Bank lowered its position in Myriad Genetics, Inc. (NASDAQ:MYGNGet Rating) by 6.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,784 shares of the company’s stock after selling 6,625 shares during the period. Comerica Bank owned about 0.13% of Myriad Genetics worth $1,921,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. purchased a new stake in Myriad Genetics in the 2nd quarter valued at about $57,000. Point72 Hong Kong Ltd increased its position in shares of Myriad Genetics by 722.8% during the second quarter. Point72 Hong Kong Ltd now owns 3,217 shares of the company’s stock valued at $58,000 after acquiring an additional 2,826 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of Myriad Genetics by 216.7% during the second quarter. Exchange Traded Concepts LLC now owns 3,588 shares of the company’s stock valued at $65,000 after acquiring an additional 2,455 shares during the last quarter. Ronald Blue Trust Inc. purchased a new stake in shares of Myriad Genetics during the 2nd quarter valued at $92,000. Finally, US Bancorp DE increased its position in shares of Myriad Genetics by 14.6% during the 1st quarter. US Bancorp DE now owns 4,243 shares of the company’s stock valued at $108,000 after purchasing an additional 541 shares during the last quarter. Hedge funds and other institutional investors own 99.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Raymond James upgraded shares of Myriad Genetics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a report on Wednesday. StockNews.com began coverage on shares of Myriad Genetics in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Stephens initiated coverage on shares of Myriad Genetics in a research note on Wednesday, October 5th. They set an “equal weight” rating and a $22.00 price target for the company. Finally, SVB Leerink decreased their target price on Myriad Genetics from $27.00 to $25.00 and set a “market perform” rating for the company in a research report on Wednesday, November 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $25.40.

Myriad Genetics Trading Up 4.3 %

Myriad Genetics stock opened at $20.35 on Friday. Myriad Genetics, Inc. has a 1-year low of $13.92 and a 1-year high of $28.18. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -20.98 and a beta of 1.75. The firm has a 50 day simple moving average of $18.01 and a 200 day simple moving average of $20.46.

Myriad Genetics (NASDAQ:MYGNGet Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.12). Myriad Genetics had a negative net margin of 11.69% and a negative return on equity of 4.86%. The company had revenue of $156.40 million during the quarter, compared to analysts’ expectations of $172.12 million. On average, equities research analysts forecast that Myriad Genetics, Inc. will post -0.8 EPS for the current year.

Insider Buying and Selling at Myriad Genetics

In other news, CFO Richard Bryan Riggsbee sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $15.15, for a total value of $303,000.00. Following the completion of the transaction, the chief financial officer now directly owns 374,107 shares in the company, valued at $5,667,721.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Myriad Genetics Company Profile

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Myriad Genetics, Inc, a genetic testing and precision medicine company, develops and commercializes genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and mental health applications. It 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, or 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.

See Also

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Institutional Ownership by Quarter for Myriad Genetics (NASDAQ:MYGN)

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