14,500 Shares in Myriad Genetics, Inc. (NASDAQ:MYGN) Bought by Aristides Capital LLC

Aristides Capital LLC acquired a new stake in Myriad Genetics, Inc. (NASDAQ:MYGN) in the fourth quarter, HoldingsChannel reports. The fund acquired 14,500 shares of the company’s stock, valued at approximately $199,000.

Other institutional investors also recently modified their holdings of the company. KBC Group NV boosted its stake in shares of 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 acquiring an additional 3,334 shares during the period. Inspire Advisors LLC lifted its holdings in Myriad Genetics by 48.1% during the 4th quarter. Inspire Advisors LLC now owns 11,226 shares of the company’s stock valued at $154,000 after purchasing an additional 3,644 shares during the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of Myriad Genetics in the fourth quarter valued at $161,000. Entropy Technologies LP bought a new position in Myriad Genetics in the 4th quarter valued at about $178,000. Finally, Blue Trust Inc. boosted its holdings in shares of Myriad Genetics by 14.1% during the fourth quarter. Blue Trust Inc. now owns 14,451 shares of the company’s stock worth $198,000 after acquiring an additional 1,788 shares during the period. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on MYGN. Craig Hallum initiated coverage on Myriad Genetics in a report on Wednesday, February 12th. They set a “buy” rating and a $29.00 price target for the company. Stephens reiterated an “equal weight” rating and issued a $20.00 price objective on shares of Myriad Genetics in a research note on Thursday, January 16th. UBS Group dropped their price target 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. Raymond James reaffirmed an “outperform” rating and issued a $19.00 price objective (down from $27.00) on shares of Myriad Genetics in a report on Tuesday, February 25th. Finally, Piper Sandler upgraded Myriad Genetics from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $11.50 to $12.50 in a research report on Wednesday, March 12th. 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.89.

Myriad Genetics Stock Performance

NASDAQ:MYGN opened at $8.07 on Tuesday. The stock’s 50-day moving average is $11.26 and its 200-day moving average is $15.61. Myriad Genetics, Inc. has a 1-year low of $7.81 and a 1-year 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 $736.86 million, a P/E ratio of -6.21 and a beta of 1.87.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly 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 business had revenue of $210.60 million during the quarter, compared to analyst estimates of $210.35 million. During the same quarter last year, the company posted ($0.12) earnings per share. Equities research analysts anticipate that Myriad Genetics, Inc. will post -0.3 earnings per share for the current 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.