Deutsche Bank AG Purchases 27,541 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Deutsche Bank AG boosted its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 53.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,397 shares of the company’s stock after purchasing an additional 27,541 shares during the quarter. Deutsche Bank AG owned approximately 0.09% of Myriad Genetics worth $1,089,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sterling Capital Management LLC increased its stake in shares of Myriad Genetics by 829.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company’s stock worth $39,000 after acquiring an additional 2,556 shares in the last quarter. KBC Group NV grew its holdings in Myriad Genetics by 132.8% in the fourth quarter. KBC Group NV now owns 5,845 shares of the company’s stock worth $80,000 after purchasing an additional 3,334 shares during the period. Inspire Advisors LLC increased its stake in shares of Myriad Genetics by 48.1% during the fourth quarter. Inspire Advisors LLC now owns 11,226 shares of the company’s stock valued at $154,000 after purchasing an additional 3,644 shares in the last quarter. E Fund Management Co. Ltd. purchased a new position in shares of Myriad Genetics during the fourth quarter valued at approximately $161,000. Finally, Syon Capital LLC bought a new stake in shares of Myriad Genetics in the 4th quarter worth approximately $176,000. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Myriad Genetics Stock Performance

Shares of MYGN opened at $3.91 on Monday. The firm has a market capitalization of $360.41 million, a P/E ratio of -3.01 and a beta of 2.01. 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 one year low of $3.81 and a one year high of $29.30. The business has a fifty day moving average of $7.15 and a 200 day moving average of $11.33.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The business had revenue of $195.90 million for the quarter, compared to analysts’ expectations of $200.37 million. During the same period last year, the firm posted ($0.01) earnings per share. The business’s revenue for the quarter was down 33.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MYGN. Scotiabank downgraded shares of Myriad Genetics from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $20.00 to $6.00 in a research report on Wednesday, May 21st. Wall Street Zen cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Piper Sandler reduced their price target on shares of Myriad Genetics from $12.50 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, May 15th. Raymond James reaffirmed an “outperform” rating and issued a $10.00 price objective (down from $19.00) on shares of Myriad Genetics in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group cut their target price on Myriad Genetics from $14.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Myriad Genetics presently has an average rating of “Hold” and a consensus price target of $14.79.

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.