Myriad Genetics, Inc. (NASDAQ:MYGN) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lessened its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 13.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 153,062 shares of the company’s stock after selling 24,519 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.17% of Myriad Genetics worth $2,098,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MYGN. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Myriad Genetics by 377.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,456 shares of the company’s stock valued at $7,533,000 after purchasing an additional 434,420 shares during the last quarter. State Street Corp increased its position in shares of Myriad Genetics by 8.3% during the 3rd quarter. State Street Corp now owns 4,703,442 shares of the company’s stock valued at $128,827,000 after purchasing an additional 359,685 shares during the period. Artisan Partners Limited Partnership raised its position in Myriad Genetics by 13.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,766,729 shares of the company’s stock worth $37,932,000 after acquiring an additional 336,770 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Myriad Genetics by 50.2% in the 4th quarter. Fisher Asset Management LLC now owns 905,209 shares of the company’s stock worth $12,410,000 after purchasing an additional 302,367 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Myriad Genetics by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 10,591,043 shares of the company’s stock valued at $145,203,000 after buying an additional 279,379 shares in the last quarter. Institutional investors own 99.02% of the company’s stock.

Myriad Genetics Stock Performance

NASDAQ:MYGN opened at $7.95 on Friday. The stock has a 50 day simple moving average of $10.80 and a 200 day simple moving average of $15.11. The stock has a market cap of $725.91 million, a P/E ratio of -6.12 and a beta of 1.87. Myriad Genetics, Inc. has a 1-year low of $7.35 and a 1-year high of $29.30. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Piper Sandler upgraded shares of Myriad Genetics from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $11.50 to $12.50 in a report on Wednesday, March 12th. The Goldman Sachs Group cut their price target on Myriad Genetics from $29.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Stephens reaffirmed an “equal weight” rating and issued a $20.00 price objective on shares of Myriad Genetics in a research note on Thursday, January 16th. Raymond James restated an “outperform” rating and issued a $19.00 target price (down from $27.00) on shares of Myriad Genetics in a report on Tuesday, February 25th. Finally, UBS Group decreased their price target on shares of Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.89.

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.