Rafferty Asset Management LLC Reduces Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Rafferty Asset Management LLC trimmed its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGNFree Report) by 17.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 171,399 shares of the company’s stock after selling 37,085 shares during the period. Rafferty Asset Management LLC owned approximately 0.21% of Myriad Genetics worth $3,281,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Natixis Advisors L.P. lifted its stake in Myriad Genetics by 44.3% during the 4th quarter. Natixis Advisors L.P. now owns 190,278 shares of the company’s stock valued at $3,641,000 after acquiring an additional 58,449 shares during the period. Wellington Management Group LLP lifted its stake in Myriad Genetics by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 5,996,260 shares of the company’s stock valued at $96,180,000 after acquiring an additional 251,426 shares during the period. Qube Research & Technologies Ltd lifted its stake in Myriad Genetics by 609.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 131,553 shares of the company’s stock valued at $2,110,000 after acquiring an additional 113,000 shares during the period. Deutsche Bank AG lifted its stake in Myriad Genetics by 6.8% during the 3rd quarter. Deutsche Bank AG now owns 41,428 shares of the company’s stock valued at $665,000 after acquiring an additional 2,622 shares during the period. Finally, Invesco Ltd. lifted its stake in Myriad Genetics by 6.7% during the 3rd quarter. Invesco Ltd. now owns 757,576 shares of the company’s stock valued at $12,152,000 after acquiring an additional 47,620 shares during the period. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Myriad Genetics Stock Down 0.7 %

NASDAQ:MYGN opened at $22.14 on Friday. 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 company has a fifty day moving average of $21.43 and a two-hundred day moving average of $20.99. Myriad Genetics, Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $25.95.

Myriad Genetics (NASDAQ:MYGNGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. The company had revenue of $202.20 million during the quarter, compared to analysts’ expectations of $193.51 million. Myriad Genetics had a negative net margin of 30.30% and a negative return on equity of 6.77%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.28) earnings per share. On average, equities research analysts forecast that Myriad Genetics, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Transactions at Myriad Genetics

In other news, Director Daniel K. Spiegelman sold 3,788 shares of the company’s stock in a transaction 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 sale, the director now owns 36,705 shares of the company’s stock, valued at $808,978.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Paul J. Diaz sold 75,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $25.07, for a total value of $1,880,250.00. Following the completion of the sale, the chief executive officer now owns 1,066,166 shares of the company’s stock, valued at $26,728,781.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel K. Spiegelman sold 3,788 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 36,705 shares of the company’s stock, valued at approximately $808,978.20. The disclosure for this sale can be found here. Insiders sold 142,832 shares of company stock valued at $3,574,217 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MYGN has been the subject of several analyst reports. SVB Leerink upgraded shares of Myriad Genetics from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $25.00 to $35.00 in a research note on Wednesday, May 8th. Jefferies Financial Group reiterated an “underperform” rating and issued a $20.00 target price (down from $25.00) on shares of Myriad Genetics in a research note on Monday, June 3rd. Piper Sandler boosted their target price on shares of Myriad Genetics from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Finally, Leerink Partnrs upgraded shares of Myriad Genetics from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.88.

Check Out Our Latest Analysis on Myriad Genetics

Myriad Genetics Company Profile

(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.

Further Reading

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

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