Y Intercept Hong Kong Ltd Purchases 297,331 Shares of Myriad Genetics, Inc. $MYGN

Y Intercept Hong Kong Ltd lifted its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 83.3% during the first quarter, HoldingsChannel reports. The firm owned 654,224 shares of the company’s stock after buying an additional 297,331 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Myriad Genetics were worth $2,944,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Aberdeen Group plc lifted its holdings in Myriad Genetics by 38.6% during the fourth quarter. Aberdeen Group plc now owns 885,801 shares of the company’s stock worth $5,448,000 after acquiring an additional 246,748 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Myriad Genetics by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 8,225,371 shares of the company’s stock worth $50,586,000 after acquiring an additional 342,856 shares in the last quarter. Intech Investment Management LLC raised its position in shares of Myriad Genetics by 543.3% during the fourth quarter. Intech Investment Management LLC now owns 228,779 shares of the company’s stock worth $1,407,000 after purchasing an additional 193,215 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Myriad Genetics by 23.9% during the first quarter. Assenagon Asset Management S.A. now owns 1,446,961 shares of the company’s stock worth $6,511,000 after purchasing an additional 279,227 shares during the period. Finally, UBS Group AG lifted its holdings in shares of Myriad Genetics by 29.8% during the 4th quarter. UBS Group AG now owns 639,691 shares of the company’s stock valued at $3,934,000 after purchasing an additional 147,045 shares in the last quarter. Institutional investors own 99.02% of the company’s stock.

Insider Buying and Selling at Myriad Genetics

In related news, Director Rashmi Kumar sold 15,000 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $4.46, for a total transaction of $66,900.00. Following the transaction, the director directly owned 171,889 shares in the company, valued at approximately $766,624.94. The trade was a 8.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Bisaro purchased 7,500 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $3.69 per share, for a total transaction of $27,675.00. Following the completion of the transaction, the director directly owned 97,441 shares of the company’s stock, valued at approximately $359,557.29. This represents a 8.34% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MYGN. Wells Fargo & Company lowered their target price on Myriad Genetics from $6.00 to $5.50 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. TD Cowen cut their price target on shares of Myriad Genetics from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. Finally, Weiss Ratings cut shares of Myriad Genetics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Myriad Genetics presently has a consensus rating of “Hold” and an average price target of $6.50.

Myriad Genetics Stock Performance

MYGN opened at $5.86 on Wednesday. The business’s 50-day simple moving average is $4.56 and its 200 day simple moving average is $5.03. Myriad Genetics, Inc. has a 52-week low of $3.53 and a 52-week high of $8.59. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.19 and a current ratio of 2.40. The firm has a market capitalization of $553.48 million, a PE ratio of -1.36 and a beta of 1.64.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Myriad Genetics had a negative return on equity of 8.51% and a negative net margin of 48.24%.The company had revenue of $200.40 million for the quarter, compared to analyst estimates of $202.42 million. During the same period last year, the firm earned ($0.03) EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that Myriad Genetics, Inc. will post -0.17 earnings per share for the current fiscal year.

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.