Capital Fund Management S.A. Takes $1.20 Million Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Capital Fund Management S.A. bought a new position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 87,555 shares of the company’s stock, valued at approximately $1,200,000.

Several other institutional investors and hedge funds have also bought and sold shares of MYGN. Renaissance Technologies LLC raised its holdings in shares of Myriad Genetics by 87.4% during the fourth quarter. Renaissance Technologies LLC now owns 684,874 shares of the company’s stock valued at $9,390,000 after purchasing an additional 319,500 shares during the period. Invesco Ltd. increased its position in Myriad Genetics by 37.9% in the 4th quarter. Invesco Ltd. now owns 769,284 shares of the company’s stock valued at $10,547,000 after buying an additional 211,503 shares in the last quarter. Polymer Capital Management US LLC acquired a new position in Myriad Genetics during the 4th quarter worth approximately $179,000. Aristides Capital LLC bought a new position in Myriad Genetics in the fourth quarter worth approximately $199,000. Finally, Wells Fargo & Company MN grew its stake in Myriad Genetics by 69.3% in the fourth quarter. Wells Fargo & Company MN now owns 214,127 shares of the company’s stock valued at $2,936,000 after acquiring an additional 87,659 shares during the period. 99.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MYGN shares. Raymond James reaffirmed an “outperform” rating and set a $19.00 target price (down from $27.00) on shares of Myriad Genetics in a research report on Tuesday, February 25th. StockNews.com upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a report on Thursday, April 10th. UBS Group reduced their price objective on shares of Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Piper Sandler upgraded shares of Myriad Genetics from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $11.50 to $12.50 in a report on Wednesday, March 12th. Finally, Craig Hallum began coverage on shares of Myriad Genetics in a research report on Wednesday, February 12th. They issued a “buy” rating and a $29.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.89.

Myriad Genetics Stock Performance

Shares of MYGN opened at $8.01 on Wednesday. The stock has a 50 day moving average of $10.52 and a 200 day moving average of $14.73. The company has a market capitalization of $738.29 million, a price-to-earnings ratio of -6.16 and a beta of 1.87. Myriad Genetics, Inc. has a 12 month low of $7.35 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.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). The business had revenue of $210.60 million during the quarter, compared to the consensus estimate 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 earned ($0.12) EPS. As a group, sell-side analysts forecast that Myriad Genetics, Inc. will post -0.3 earnings per share 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.