PNC Financial Services Group Inc. Has $91,000 Stake in Myriad Genetics, Inc. (NASDAQ:MYGN)

PNC Financial Services Group Inc. lowered its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 25.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,633 shares of the company’s stock after selling 2,297 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Myriad Genetics were worth $91,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC increased its position in Myriad Genetics by 50.8% during the 3rd quarter. Quest Partners LLC now owns 8,001 shares of the company’s stock worth $219,000 after buying an additional 2,697 shares during the period. Intech Investment Management LLC increased its position in Myriad Genetics by 32.0% during the third quarter. Intech Investment Management LLC now owns 29,055 shares of the company’s stock worth $796,000 after acquiring an additional 7,043 shares during the period. Charles Schwab Investment Management Inc. increased its position in Myriad Genetics by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,083,302 shares of the company’s stock worth $29,672,000 after acquiring an additional 41,374 shares during the period. Algert Global LLC boosted its holdings in Myriad Genetics by 135.2% in the 3rd quarter. Algert Global LLC now owns 21,280 shares of the company’s stock valued at $583,000 after purchasing an additional 12,232 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of Myriad Genetics by 47.8% during the 3rd quarter. Fisher Asset Management LLC now owns 602,842 shares of the company’s stock worth $16,512,000 after purchasing an additional 195,094 shares in the last quarter. 99.02% of the stock is owned by institutional investors and hedge funds.

Myriad Genetics Trading Down 2.5 %

Shares of MYGN stock opened at $9.73 on Wednesday. Myriad Genetics, Inc. has a fifty-two week low of $9.36 and a fifty-two week high of $29.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The stock has a 50 day simple moving average of $11.97 and a two-hundred day simple moving average of $16.80. The company has a market cap of $888.44 million, a P/E ratio of -7.48 and a beta of 1.79.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate 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 net margin of 14.09% and a negative return on equity of 4.51%. During the same quarter in the prior year, the firm earned ($0.12) EPS. Research analysts forecast that Myriad Genetics, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analyst Weigh In

MYGN has been the subject of several recent research reports. Leerink Partnrs cut Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Stephens reaffirmed an “equal weight” rating and issued a $20.00 target price on shares of Myriad Genetics in a report on Thursday, January 16th. StockNews.com raised Myriad Genetics from a “hold” rating to a “buy” rating in a report on Tuesday. Bank of America reduced their price objective on Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating on the stock in a research note on Monday, March 3rd. Finally, Piper Sandler raised shares of Myriad Genetics from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $11.50 to $12.50 in a report on Wednesday, March 12th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.89.

About Myriad Genetics

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.