Myriad Genetics, Inc. (NASDAQ:MYGN) Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP boosted its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN) by 236.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,745 shares of the company’s stock after purchasing an additional 13,176 shares during the quarter. Quantbot Technologies LP’s holdings in Myriad Genetics were worth $257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Disciplined Growth Investors Inc. MN grew its holdings in Myriad Genetics by 21.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock valued at $69,226,000 after buying an additional 440,107 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Myriad Genetics by 377.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,456 shares of the company’s stock valued at $7,533,000 after purchasing an additional 434,420 shares during the period. Iron Triangle Partners LP acquired a new position in Myriad Genetics during the third quarter worth approximately $11,007,000. State Street Corp raised its stake in Myriad Genetics by 8.3% during the third quarter. State Street Corp now owns 4,703,442 shares of the company’s stock worth $128,827,000 after purchasing an additional 359,685 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of Myriad Genetics by 50.2% in the 4th quarter. Fisher Asset Management LLC now owns 905,209 shares of the company’s stock valued at $12,410,000 after purchasing an additional 302,367 shares during the last quarter. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Myriad Genetics Stock Performance

Myriad Genetics stock opened at $8.88 on Friday. Myriad Genetics, Inc. has a 12-month low of $8.70 and a 12-month high of $29.30. 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 company has a market capitalization of $810.82 million, a price-to-earnings ratio of -6.83 and a beta of 1.79. The firm’s fifty day moving average price is $11.76 and its 200 day moving average price is $16.50.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12). The business had revenue of $210.60 million during 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 quarter last year, the firm posted ($0.12) EPS. On average, research analysts forecast that Myriad Genetics, Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MYGN has been the subject of a number of research analyst reports. UBS Group dropped their price objective on Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Piper Sandler upgraded Myriad Genetics from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $11.50 to $12.50 in a research note on Wednesday, March 12th. Leerink Partnrs lowered Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Craig Hallum began coverage on shares of Myriad Genetics in a research report on Wednesday, February 12th. They set a “buy” rating and a $29.00 target price for the company. Finally, StockNews.com upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a report on Tuesday, March 25th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $21.89.

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.