Man Group plc Makes New $390,000 Investment in Myriad Genetics, Inc. (NASDAQ:MYGN)

Man Group plc acquired a new position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 28,455 shares of the company’s stock, valued at approximately $390,000.

Other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC grew its stake in Myriad Genetics by 829.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,864 shares of the company’s stock worth $39,000 after buying an additional 2,556 shares during the period. KBC Group NV grew its stake in Myriad Genetics by 132.8% during the fourth quarter. KBC Group NV now owns 5,845 shares of the company’s stock worth $80,000 after buying an additional 3,334 shares during the period. Inspire Advisors LLC boosted its stake in shares of Myriad Genetics by 48.1% in 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 during the period. E Fund Management Co. Ltd. purchased a new position in shares of Myriad Genetics in the fourth quarter valued at $161,000. Finally, Syon Capital LLC purchased a new position in shares of Myriad Genetics in the fourth quarter valued at $176,000. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MYGN. Wells Fargo & Company downgraded shares of Myriad Genetics from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $22.00 to $6.00 in a research note on Wednesday, May 7th. Wolfe Research downgraded shares of Myriad Genetics from an “outperform” rating to a “peer perform” rating in a research note on Thursday, May 8th. UBS Group decreased their target price on shares of Myriad Genetics from $16.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Wall Street Zen downgraded shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Finally, Bank of America decreased their target price on shares of Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating for the company in a research note on Monday, March 3rd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Myriad Genetics has an average rating of “Hold” and a consensus price target of $14.79.

Myriad Genetics Stock Down 0.5%

Shares of NASDAQ:MYGN opened at $3.91 on Tuesday. The stock has a market capitalization of $360.41 million, a price-to-earnings ratio of -3.01 and a beta of 2.01. Myriad Genetics, Inc. has a 1-year low of $3.81 and a 1-year high of $29.30. The company’s fifty day moving average is $7.03 and its two-hundred day moving average is $11.24. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90.

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

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.