Inspire Advisors LLC Grows Stock Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Inspire Advisors LLC raised its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 48.1% in the 4th quarter, Holdings Channel reports. The fund owned 11,226 shares of the company’s stock after purchasing an additional 3,644 shares during the period. Inspire Advisors LLC’s holdings in Myriad Genetics were worth $154,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new stake in shares of Myriad Genetics during the third quarter worth about $32,000. KBC Group NV increased its holdings in Myriad Genetics by 132.8% during the 4th quarter. KBC Group NV now owns 5,845 shares of the company’s stock worth $80,000 after purchasing an additional 3,334 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in Myriad Genetics by 43.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock worth $132,000 after purchasing an additional 1,471 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Myriad Genetics by 588.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,922 shares of the company’s stock valued at $135,000 after purchasing an additional 4,207 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in Myriad Genetics during the 3rd quarter valued at $153,000. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Myriad Genetics Stock Down 6.8 %

NASDAQ MYGN opened at $9.70 on Friday. The company has a market capitalization of $885.70 million, a P/E ratio of -7.46 and a beta of 1.79. Myriad Genetics, Inc. has a 12 month low of $9.36 and a 12 month high of $29.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The company’s 50 day simple moving average is $12.74 and its 200 day simple moving average is $17.99.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). The company had revenue of $210.60 million for the quarter, compared to analyst estimates 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 last year, the company posted ($0.12) EPS. Equities research analysts expect that Myriad Genetics, Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Stephens reaffirmed an “equal weight” rating and set a $20.00 target price on shares of Myriad Genetics in a report on Thursday, January 16th. Bank of America decreased their target price on Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating for the company in a research note on Monday, March 3rd. Raymond James restated an “outperform” rating and set a $19.00 price objective (down previously from $27.00) on shares of Myriad Genetics in a research report on Tuesday, February 25th. The Goldman Sachs Group lowered their price objective 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. Finally, Leerink Partnrs cut shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Myriad Genetics currently has an average 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.