D. E. Shaw & Co. Inc. Has $24.95 Million Holdings in Myriad Genetics, Inc. (NASDAQ:MYGN)

D. E. Shaw & Co. Inc. boosted its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN) by 58.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,819,814 shares of the company’s stock after acquiring an additional 668,429 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Myriad Genetics were worth $24,950,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake 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 worth $145,203,000 after purchasing an additional 279,379 shares during the last quarter. Earnest Partners LLC boosted its position in shares of Myriad Genetics by 0.4% during the fourth quarter. Earnest Partners LLC now owns 3,971,598 shares of the company’s stock valued at $54,451,000 after buying an additional 15,650 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in Myriad Genetics by 13.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,766,729 shares of the company’s stock worth $37,932,000 after buying an additional 336,770 shares in the last quarter. Sei Investments Co. raised its position in Myriad Genetics by 7.4% in the 4th quarter. Sei Investments Co. now owns 2,526,761 shares of the company’s stock valued at $34,642,000 after buying an additional 174,770 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Myriad Genetics by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,125,535 shares of the company’s stock valued at $15,431,000 after buying an additional 42,233 shares during the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MYGN. Piper Sandler raised shares of Myriad Genetics from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $11.50 to $12.50 in a report on Wednesday, March 12th. Raymond James restated an “outperform” rating and set a $10.00 price target (down from $19.00) on shares of Myriad Genetics in a report on Wednesday, May 7th. Stephens reaffirmed an “equal weight” rating and issued a $20.00 price objective on shares of Myriad Genetics in a research report on Thursday, January 16th. Scotiabank decreased their price target on Myriad Genetics from $24.00 to $20.00 and set a “sector outperform” rating for the company in a research report on Tuesday, April 1st. Finally, Guggenheim downgraded Myriad Genetics from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $16.04.

Myriad Genetics Trading Down 3.5%

Shares of Myriad Genetics stock opened at $3.89 on Monday. The stock has a market capitalization of $358.57 million, a P/E ratio of -2.99 and a beta of 2.01. Myriad Genetics, Inc. has a 52-week low of $3.86 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 stock’s 50-day simple moving average is $8.35 and its 200 day simple moving average is $12.44.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. The company had revenue of $195.90 million for the quarter, compared to analyst estimates of $200.37 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The company’s quarterly revenue was down 33.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. As a group, research analysts anticipate that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Myriad Genetics 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.