Myriad Genetics, Inc. $MYGN Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) by 301.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,304,163 shares of the company’s stock after buying an additional 979,133 shares during the period. Assenagon Asset Management S.A. owned approximately 1.40% of Myriad Genetics worth $9,429,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MYGN. Inspire Investing LLC increased its stake in Myriad Genetics by 93.3% in the 2nd quarter. Inspire Investing LLC now owns 84,520 shares of the company’s stock valued at $449,000 after purchasing an additional 40,793 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Myriad Genetics in the first quarter valued at $531,000. Graham Capital Management L.P. acquired a new stake in Myriad Genetics in the first quarter valued at $633,000. Nordea Investment Management AB increased its position in shares of Myriad Genetics by 19.5% in the second quarter. Nordea Investment Management AB now owns 402,910 shares of the company’s stock valued at $2,152,000 after buying an additional 65,781 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Myriad Genetics by 95.1% during the 2nd quarter. Prudential Financial Inc. now owns 342,684 shares of the company’s stock worth $1,820,000 after buying an additional 167,023 shares during the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Myriad Genetics Price Performance

Shares of NASDAQ:MYGN opened at $6.55 on Friday. The company has a market cap of $610.53 million, a P/E ratio of -1.51 and a beta of 1.81. The business has a fifty day simple moving average of $7.29 and a 200-day simple moving average of $6.40. Myriad Genetics, Inc. has a 52 week low of $3.76 and a 52 week high of $15.47. The company has a quick ratio of 2.12, a current ratio of 2.33 and a debt-to-equity ratio of 0.32.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, January 16th. The company reported ($0.19) earnings per share (EPS) for the quarter. The business had revenue of $156.40 million during the quarter. Myriad Genetics had a negative return on equity of 7.11% and a negative net margin of 48.53%.Myriad Genetics has set its FY23 guidance at ($0.33)-($0.28) EPS. Equities research analysts forecast that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Analyst Upgrades and Downgrades

MYGN has been the topic of a number of research reports. Cowen reissued a “hold” rating on shares of Myriad Genetics in a research note on Tuesday, November 4th. Piper Sandler dropped their price objective on shares of Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. TD Cowen lifted their price objective on Myriad Genetics from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Wells Fargo & Company upped their target price on Myriad Genetics from $6.00 to $6.50 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Finally, UBS Group raised their price target on Myriad Genetics from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Myriad Genetics presently has a consensus rating of “Hold” and a consensus price target of $10.50.

About Myriad Genetics

Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual’s risk for various hereditary conditions and to guide personalized treatment decisions. The company’s core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women’s health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.