JPMorgan Chase & Co. Sells 140,886 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

JPMorgan Chase & Co. reduced its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 24.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 425,244 shares of the company’s stock after selling 140,886 shares during the period. JPMorgan Chase & Co.’s holdings in Myriad Genetics were worth $5,830,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. KBC Group NV boosted its holdings in Myriad Genetics by 132.8% during the fourth quarter. KBC Group NV now owns 5,845 shares of the company’s stock valued at $80,000 after purchasing an additional 3,334 shares in the last quarter. Inspire Advisors LLC lifted its position in shares of Myriad Genetics by 48.1% during the 4th quarter. Inspire Advisors LLC now owns 11,226 shares of the company’s stock worth $154,000 after buying an additional 3,644 shares during the period. E Fund Management Co. Ltd. acquired a new stake in Myriad Genetics in the 4th quarter valued at $161,000. Entropy Technologies LP acquired a new stake in Myriad Genetics in the 4th quarter valued at $178,000. Finally, Blue Trust Inc. boosted its holdings in shares of Myriad Genetics by 14.1% in the 4th quarter. Blue Trust Inc. now owns 14,451 shares of the company’s stock worth $198,000 after acquiring an additional 1,788 shares in the last quarter. Institutional investors own 99.02% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. UBS Group dropped their price objective on shares of Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Scotiabank lowered their target price on Myriad Genetics from $24.00 to $20.00 and set a “sector outperform” rating for the company in a report on Tuesday, April 1st. Craig Hallum assumed coverage on Myriad Genetics in a research note on Wednesday, February 12th. They issued a “buy” rating and a $29.00 price target for the company. Guggenheim lowered Myriad Genetics from a “buy” rating to a “neutral” rating in a report on Wednesday, April 9th. Finally, Stephens reiterated an “equal weight” rating and set a $20.00 target price on shares of Myriad Genetics in a research report on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $20.61.

Myriad Genetics Stock Down 3.4 %

Myriad Genetics stock opened at $7.64 on Friday. Myriad Genetics, Inc. has a 52-week low of $7.35 and a 52-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 firm has a 50 day moving average price of $10.34 and a two-hundred day moving average price of $14.55. The firm has a market cap of $704.19 million, a price-to-earnings ratio of -5.88 and a beta of 1.87.

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). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The firm had revenue of $210.60 million for the quarter, compared to the consensus estimate of $210.35 million. During the same period last year, the company posted ($0.12) EPS. Equities analysts predict that Myriad Genetics, Inc. will post -0.3 EPS for the current 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.