Mirae Asset Global Investments Co. Ltd. Sells 44,553 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Mirae Asset Global Investments Co. Ltd. reduced its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGNGet Rating) by 15.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 240,106 shares of the company’s stock after selling 44,553 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.30% of Myriad Genetics worth $6,050,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GHP Investment Advisors Inc. bought a new position in shares of Myriad Genetics in the first quarter worth approximately $27,000. Exchange Traded Concepts LLC bought a new position in shares of Myriad Genetics in the first quarter worth approximately $29,000. Itau Unibanco Holding S.A. bought a new position in shares of Myriad Genetics in the fourth quarter worth approximately $81,000. US Bancorp DE boosted its holdings in Myriad Genetics by 14.6% in the first quarter. US Bancorp DE now owns 4,243 shares of the company’s stock valued at $108,000 after acquiring an additional 541 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Myriad Genetics by 103.2% in the first quarter. Captrust Financial Advisors now owns 5,083 shares of the company’s stock valued at $128,000 after acquiring an additional 2,581 shares in the last quarter. 99.80% of the stock is currently owned by institutional investors.

Myriad Genetics Trading Down 5.2 %

Shares of Myriad Genetics stock opened at $19.14 on Friday. The firm has a market capitalization of $1.54 billion, a P/E ratio of -79.75 and a beta of 1.74. The business has a fifty day simple moving average of $24.02 and a two-hundred day simple moving average of $22.44. Myriad Genetics, Inc. has a 12 month low of $16.02 and a 12 month high of $35.31.

Myriad Genetics (NASDAQ:MYGNGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. The business had revenue of $179.30 million during the quarter, compared to analyst estimates of $170.05 million. Myriad Genetics had a negative return on equity of 3.44% and a negative net margin of 2.62%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 earnings per share. Analysts predict that Myriad Genetics, Inc. will post -0.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MYGN. StockNews.com cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. TheStreet cut shares of Myriad Genetics from a “c-” rating to a “d+” rating in a report on Friday, June 3rd. Cowen lifted their price target on shares of Myriad Genetics to $32.00 in a report on Tuesday, August 9th. Finally, SVB Leerink lifted their price target on shares of Myriad Genetics from $26.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, August 5th.

About Myriad Genetics

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Myriad Genetics, Inc, a genetic testing and precision medicine company, develops and commercializes genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and mental health applications. It 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, or 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.

Further Reading

Institutional Ownership by Quarter for Myriad Genetics (NASDAQ:MYGN)

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