Knott David M Jr Buys 20,000 Shares of Myriad Genetics, Inc. $MYGN

Knott David M Jr increased its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) by 12.5% during the second quarter, Holdings Channel.com reports. The fund owned 180,000 shares of the company’s stock after buying an additional 20,000 shares during the period. Knott David M Jr’s holdings in Myriad Genetics were worth $956,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Myriad Genetics during the first quarter worth $531,000. Inspire Investing LLC lifted its holdings in Myriad Genetics by 93.3% in the second quarter. Inspire Investing LLC now owns 84,520 shares of the company’s stock valued at $449,000 after buying an additional 40,793 shares during the period. Graham Capital Management L.P. bought a new stake in Myriad Genetics during the first quarter valued at $633,000. Nordea Investment Management AB grew its holdings in Myriad Genetics by 19.5% during the 2nd quarter. Nordea Investment Management AB now owns 402,910 shares of the company’s stock worth $2,152,000 after acquiring an additional 65,781 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in Myriad Genetics during the 2nd quarter worth about $869,000. Institutional investors own 99.02% of the company’s stock.

Wall Street Analysts Forecast Growth

MYGN has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Myriad Genetics in a research note on Tuesday, November 11th. Cowen reissued a “hold” rating on shares of Myriad Genetics in a research note on Tuesday, November 4th. TD Cowen raised their price objective on shares of Myriad Genetics from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Wells Fargo & Company boosted their target price on shares of Myriad Genetics from $6.00 to $6.50 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Finally, Piper Sandler dropped their price objective on shares of Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.25.

Myriad Genetics Trading Up 5.7%

Myriad Genetics stock opened at $6.71 on Monday. The firm has a market capitalization of $625.47 million, a price-to-earnings ratio of -1.57 and a beta of 1.99. The firm’s fifty day moving average price is $7.49 and its two-hundred day moving average price is $5.99. Myriad Genetics, Inc. has a 1-year low of $3.76 and a 1-year high of $16.83.

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