Myriad Genetics, Inc. $MYGN Stock Position Raised by Cwm LLC

Cwm LLC lifted its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 148.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,327 shares of the company’s stock after acquiring an additional 14,531 shares during the quarter. Cwm LLC’s holdings in Myriad Genetics were worth $129,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MYGN. Nuveen LLC bought a new stake in shares of Myriad Genetics during the 1st quarter worth $10,437,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Myriad Genetics by 67.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 921,911 shares of the company’s stock worth $8,177,000 after acquiring an additional 372,455 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Myriad Genetics by 278.9% in the first quarter. AQR Capital Management LLC now owns 433,392 shares of the company’s stock worth $3,844,000 after buying an additional 319,007 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Myriad Genetics by 285.2% in the second quarter. Assenagon Asset Management S.A. now owns 325,030 shares of the company’s stock worth $1,726,000 after buying an additional 240,643 shares during the period. Finally, Aberdeen Group plc acquired a new stake in shares of Myriad Genetics in the second quarter worth $1,219,000. 99.02% of the stock is owned by institutional investors.

Myriad Genetics Price Performance

NASDAQ MYGN opened at $8.04 on Friday. Myriad Genetics, Inc. has a fifty-two week low of $3.76 and a fifty-two week high of $22.81. The stock’s 50-day moving average is $7.44 and its two-hundred day moving average is $6.07. The firm has a market cap of $748.04 million, a P/E ratio of -1.88 and a beta of 1.97.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, January 16th. The company reported ($0.19) earnings per share for the quarter. Myriad Genetics had a negative net margin of 47.45% and a negative return on equity of 5.17%. The company had revenue of $156.40 million for the quarter. Myriad Genetics has set its FY23 guidance at ($0.33)-($0.28) EPS. On average, equities analysts expect that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Myriad Genetics in a research report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.45.

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.