Point72 DIFC Ltd Buys Shares of 2,459 Myriad Genetics, Inc. (NASDAQ:MYGN)

Point72 DIFC Ltd purchased a new position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,459 shares of the company’s stock, valued at approximately $60,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Glenview Capital Management LLC boosted its stake in Myriad Genetics by 39.6% during the 4th quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock valued at $101,135,000 after acquiring an additional 1,500,000 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Myriad Genetics by 20.4% during the fourth quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock worth $138,185,000 after purchasing an additional 1,223,446 shares during the last quarter. Vanguard Group Inc. grew its stake in Myriad Genetics by 8.6% in the fourth quarter. Vanguard Group Inc. now owns 9,954,233 shares of the company’s stock worth $190,524,000 after purchasing an additional 789,496 shares in the last quarter. Sei Investments Co. increased its holdings in Myriad Genetics by 41.9% in the fourth quarter. Sei Investments Co. now owns 2,161,434 shares of the company’s stock valued at $41,370,000 after buying an additional 638,147 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Myriad Genetics by 80.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 334,717 shares of the company’s stock valued at $7,620,000 after buying an additional 149,234 shares in the last quarter. Institutional investors own 99.02% of the company’s stock.

Myriad Genetics Stock Up 0.9 %

MYGN opened at $26.46 on Friday. The stock’s 50 day moving average price is $27.46 and its 200 day moving average price is $24.26. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.96 and a quick ratio of 1.78. The stock has a market cap of $2.39 billion, a P/E ratio of -9.38 and a beta of 1.92. Myriad Genetics, Inc. has a 12 month low of $13.82 and a 12 month high of $29.30.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $211.50 million for the quarter, compared to analyst estimates of $206.44 million. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company earned ($0.21) earnings per share. As a group, research analysts predict that Myriad Genetics, Inc. will post -0.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Heinrich Dreismann sold 10,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $27.05, for a total value of $270,500.00. Following the completion of the transaction, the director now directly owns 121,648 shares in the company, valued at $3,290,578.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Colleen F. Reitan sold 46,012 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total value of $1,286,035.40. Following the sale, the director now owns 42,533 shares of the company’s stock, valued at approximately $1,188,797.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Heinrich Dreismann sold 10,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $27.05, for a total value of $270,500.00. Following the completion of the sale, the director now owns 121,648 shares of the company’s stock, valued at approximately $3,290,578.40. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Analysts Set New Price Targets

MYGN has been the subject of several research reports. TD Cowen lifted their target price on Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Piper Sandler lifted their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. increased their target price on shares of Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. Scotiabank lifted their price target on shares of Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 13th. Finally, Jefferies Financial Group reiterated an “underperform” rating and set a $20.00 price objective (down previously from $25.00) on shares of Myriad Genetics in a research note on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $28.91.

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.