JPMorgan Chase & Co. Sells 140,886 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

JPMorgan Chase & Co. reduced its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 24.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 425,244 shares of the company's stock after selling 140,886 shares during the period. JPMorgan Chase & Co. owned about 0.47% of Myriad Genetics worth $5,830,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Myriad Genetics by 377.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,456 shares of the company's stock worth $7,533,000 after buying an additional 434,420 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Myriad Genetics by 13.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,766,729 shares of the company's stock worth $37,932,000 after buying an additional 336,770 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Myriad Genetics by 50.2% in the 4th quarter. Fisher Asset Management LLC now owns 905,209 shares of the company's stock worth $12,410,000 after buying an additional 302,367 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Myriad Genetics by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 10,591,043 shares of the company's stock worth $145,203,000 after buying an additional 279,379 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Myriad Genetics by 117.0% in the 4th quarter. Nordea Investment Management AB now owns 332,913 shares of the company's stock worth $4,548,000 after buying an additional 179,527 shares during the last quarter. 99.02% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MYGN shares. Bank of America cut their target price on Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating on the stock in a research note on Monday, March 3rd. The Goldman Sachs Group cut their target price on Myriad Genetics from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Raymond James reiterated an "outperform" rating and issued a $19.00 price objective (down previously from $27.00) on shares of Myriad Genetics in a research note on Tuesday, February 25th. UBS Group dropped their price objective on Myriad Genetics from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Finally, Craig Hallum assumed coverage on Myriad Genetics in a research note on Wednesday, February 12th. They issued a "buy" rating and a $29.00 price objective on the stock. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $20.61.

Myriad Genetics Stock Performance

Shares of NASDAQ:MYGN traded up $0.33 during trading on Wednesday, hitting $7.76. 355,632 shares of the company were exchanged, compared to its average volume of 920,585. The company has a market cap of $715.25 million, a PE ratio of -5.97 and a beta of 1.87. The stock has a 50 day moving average of $9.98 and a 200 day moving average of $14.06. Myriad Genetics, Inc. has a 52-week low of $7.28 and a 52-week high of $29.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). The firm had revenue of $210.60 million during the quarter, compared to the consensus estimate of $210.35 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same period in the previous year, the company posted ($0.12) EPS. As a group, equities research analysts predict that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Myriad Genetics Company 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.