Y Intercept Hong Kong Ltd Grows Holdings in Myriad Genetics, Inc. (NASDAQ:MYGN)

Y Intercept Hong Kong Ltd lifted its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN) by 36.7% in the fourth quarter, HoldingsChannel reports. The firm owned 52,667 shares of the company’s stock after buying an additional 14,134 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Myriad Genetics were worth $722,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Handelsbanken Fonder AB grew its holdings in shares of Myriad Genetics by 12.8% in the fourth quarter. Handelsbanken Fonder AB now owns 30,788 shares of the company’s stock valued at $422,000 after purchasing an additional 3,500 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of Myriad Genetics by 12.3% in the fourth quarter. New York State Common Retirement Fund now owns 147,969 shares of the company’s stock valued at $2,029,000 after purchasing an additional 16,249 shares in the last quarter. Peregrine Capital Management LLC grew its holdings in shares of Myriad Genetics by 12.1% in the fourth quarter. Peregrine Capital Management LLC now owns 342,845 shares of the company’s stock valued at $4,700,000 after purchasing an additional 36,958 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Myriad Genetics by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 441,387 shares of the company’s stock valued at $6,051,000 after purchasing an additional 13,364 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Myriad Genetics by 4.4% in the fourth quarter. Rhumbline Advisers now owns 289,502 shares of the company’s stock valued at $3,969,000 after purchasing an additional 12,144 shares in the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MYGN. Raymond James restated an “outperform” rating and issued a $19.00 price objective (down previously from $27.00) on shares of Myriad Genetics in a report on Tuesday. Craig Hallum assumed coverage on shares of Myriad Genetics in a report on Wednesday, February 12th. They set a “buy” rating and a $29.00 price target for the company. StockNews.com cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a report on Saturday. The Goldman Sachs Group lowered their price target on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Finally, Piper Sandler lowered their price target on shares of Myriad Genetics from $24.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.14.

Myriad Genetics Trading Down 3.0 %

Shares of Myriad Genetics stock opened at $10.73 on Friday. The company has a fifty day simple moving average of $13.28 and a 200-day simple moving average of $19.04. Myriad Genetics, Inc. has a 12-month low of $9.76 and a 12-month 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. The stock has a market cap of $976.81 million, a price-to-earnings ratio of -8.25 and a beta of 1.88.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $210.60 million during the quarter, compared to analyst estimates of $210.35 million. During the same quarter in the previous year, the company posted ($0.12) EPS. On average, equities analysts forecast that Myriad Genetics, Inc. will post -0.3 EPS for the current fiscal year.

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.