JPMorgan Chase & Co. Sells 113,338 Shares of Myriad Genetics, Inc. $MYGN

JPMorgan Chase & Co. trimmed its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 17.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 552,232 shares of the company’s stock after selling 113,338 shares during the quarter. JPMorgan Chase & Co. owned 0.59% of Myriad Genetics worth $3,993,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in Myriad Genetics by 2,333.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company’s stock worth $25,000 after acquiring an additional 4,480 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Myriad Genetics by 1,088.7% during the third quarter. Hantz Financial Services Inc. now owns 4,089 shares of the company’s stock valued at $30,000 after acquiring an additional 3,745 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Myriad Genetics during the second quarter worth about $37,000. Nisa Investment Advisors LLC boosted its holdings in shares of Myriad Genetics by 23.3% during the third quarter. Nisa Investment Advisors LLC now owns 7,120 shares of the company’s stock worth $51,000 after purchasing an additional 1,347 shares during the period. Finally, American Century Companies Inc. bought a new stake in shares of Myriad Genetics in the second quarter worth about $55,000. 99.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on MYGN shares. Wells Fargo & Company lowered their price target on Myriad Genetics from $6.50 to $6.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 24th. Zacks Research upgraded Myriad Genetics from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Myriad Genetics in a report on Friday, March 27th. Finally, UBS Group dropped their price target on Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, February 24th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $8.94.

Myriad Genetics Stock Performance

Shares of MYGN opened at $4.75 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.49 and a quick ratio of 2.26. Myriad Genetics, Inc. has a one year low of $3.76 and a one year high of $8.74. The company has a 50-day simple moving average of $4.87 and a two-hundred day simple moving average of $6.32. The firm has a market capitalization of $444.16 million, a PE ratio of -1.21 and a beta of 1.86.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Monday, February 23rd. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. Myriad Genetics had a negative return on equity of 6.35% and a negative net margin of 44.38%.The firm had revenue of $209.80 million for the quarter, compared to the consensus estimate of $207.57 million. During the same quarter in the prior year, the business earned $0.03 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts anticipate that Myriad Genetics, Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at Myriad Genetics

In other news, CEO Samraat S. Raha acquired 40,000 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was acquired at an average price of $5.00 per share, for a total transaction of $200,000.00. Following the completion of the acquisition, the chief executive officer owned 493,104 shares in the company, valued at $2,465,520. This trade represents a 8.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director S. Louise Phanstiel acquired 48,000 shares of the stock in a transaction on Friday, February 27th. The shares were purchased at an average cost of $4.66 per share, with a total value of $223,680.00. Following the transaction, the director directly owned 281,951 shares of the company’s stock, valued at approximately $1,313,891.66. This trade represents a 20.52% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 144,507 shares of company stock worth $694,548. 2.40% of the stock is owned by insiders.

Myriad Genetics Company Profile

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.