AlphaQuest LLC Sells 5,360 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

AlphaQuest LLC trimmed its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 67.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,641 shares of the company’s stock after selling 5,360 shares during the period. AlphaQuest LLC’s holdings in Myriad Genetics were worth $36,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc grew its position in shares of Myriad Genetics by 5.4% during the 3rd quarter. Atria Investments Inc now owns 11,414 shares of the company’s stock valued at $313,000 after acquiring an additional 581 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Myriad Genetics during the 3rd quarter valued at approximately $32,000. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Myriad Genetics by 43.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock valued at $132,000 after acquiring an additional 1,471 shares during the period. Blue Trust Inc. grew its position in shares of Myriad Genetics by 14.1% during the 4th quarter. Blue Trust Inc. now owns 14,451 shares of the company’s stock valued at $198,000 after acquiring an additional 1,788 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Myriad Genetics by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 646,003 shares of the company’s stock valued at $8,857,000 after acquiring an additional 2,256 shares during the period. 99.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MYGN has been the subject of a number of research reports. Leerink Partners downgraded shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $30.00 to $21.00 in a research report on Monday, December 9th. The Goldman Sachs Group dropped their price target on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. UBS Group dropped their price target on shares of Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Craig Hallum began coverage on shares of Myriad Genetics in a research note on Wednesday, February 12th. They set a “buy” rating and a $29.00 price target on the stock. Finally, Raymond James restated an “outperform” rating and set a $19.00 price target (down from $27.00) on shares of Myriad Genetics in a research note on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Myriad Genetics has an average rating of “Hold” and a consensus price target of $21.89.

Myriad Genetics Price Performance

Shares of NASDAQ:MYGN opened at $9.91 on Friday. The company’s fifty day moving average price is $12.23 and its 200-day moving average price is $17.30. The firm has a market capitalization of $904.87 million, a price-to-earnings ratio of -7.62 and a beta of 1.79. Myriad Genetics, Inc. has a one year low of $9.36 and a one year high of $29.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). The company had revenue of $210.60 million during the quarter, compared to the consensus estimate of $210.35 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same period in the previous year, the company earned ($0.12) EPS. On average, equities research analysts anticipate that Myriad Genetics, Inc. will post -0.3 earnings per share for the current fiscal year.

Myriad Genetics Company 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.