Aberdeen Group plc Makes New Investment in Myriad Genetics, Inc. $MYGN

Aberdeen Group plc purchased a new stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 229,593 shares of the company’s stock, valued at approximately $1,219,000.

Several other institutional investors have also bought and sold shares of the stock. Jennison Associates LLC increased its stake in Myriad Genetics by 3.0% during the 1st quarter. Jennison Associates LLC now owns 60,811 shares of the company’s stock valued at $539,000 after buying an additional 1,796 shares during the period. Natixis Advisors LLC increased its stake in shares of Myriad Genetics by 1.3% during the first quarter. Natixis Advisors LLC now owns 212,138 shares of the company’s stock valued at $1,882,000 after acquiring an additional 2,810 shares during the period. GAMMA Investing LLC increased its stake in shares of Myriad Genetics by 520.8% during the first quarter. GAMMA Investing LLC now owns 4,470 shares of the company’s stock valued at $40,000 after acquiring an additional 3,750 shares during the period. State of Alaska Department of Revenue raised its holdings in Myriad Genetics by 8.9% during the second quarter. State of Alaska Department of Revenue now owns 54,911 shares of the company’s stock worth $291,000 after purchasing an additional 4,469 shares in the last quarter. Finally, State of Wyoming lifted its position in Myriad Genetics by 147.0% in the first quarter. State of Wyoming now owns 8,641 shares of the company’s stock worth $77,000 after purchasing an additional 5,143 shares during the period. Institutional investors and hedge funds own 99.02% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Myriad Genetics in a research report on Tuesday. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.45.

Myriad Genetics Trading Down 3.5%

MYGN stock opened at $7.80 on Friday. Myriad Genetics, Inc. has a one year low of $3.76 and a one year high of $23.74. The firm has a 50-day moving average of $7.00 and a two-hundred day moving average of $6.09. The firm has a market capitalization of $725.75 million, a PE ratio of -1.82 and a beta of 1.97.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, January 16th. The company reported ($0.19) earnings per share (EPS) for the quarter. Myriad Genetics had a negative net margin of 47.45% and a negative return on equity of 5.17%. The firm had revenue of $156.40 million for the quarter. Myriad Genetics has set its FY23 guidance at ($0.33)-($0.28) EPS. On average, 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.