D. E. Shaw & Co. Inc. Sells 139,366 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

D. E. Shaw & Co. Inc. reduced its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 11.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,126,747 shares of the company's stock after selling 139,366 shares during the quarter. D. E. Shaw & Co. Inc. owned about 1.24% of Myriad Genetics worth $27,560,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MYGN. Glenview Capital Management LLC raised its stake in Myriad Genetics by 39.6% during the 4th quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company's stock worth $101,135,000 after buying an additional 1,500,000 shares during the period. UniSuper Management Pty Ltd acquired a new stake in shares of Myriad Genetics during the first quarter worth about $467,000. AMH Equity Ltd bought a new position in shares of Myriad Genetics during the 1st quarter valued at about $2,345,000. Wellington Management Group LLP grew its position in shares of Myriad Genetics by 20.4% in the 4th quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company's stock valued at $138,185,000 after purchasing an additional 1,223,446 shares during the period. Finally, Vanguard Group Inc. increased its stake in Myriad Genetics by 8.6% during the 4th quarter. Vanguard Group Inc. now owns 9,954,233 shares of the company's stock worth $190,524,000 after purchasing an additional 789,496 shares in the last quarter. 99.02% of the stock is owned by institutional investors.

Myriad Genetics Stock Up 0.9 %

Shares of NASDAQ:MYGN traded up $0.23 during trading on Friday, hitting $26.46. 564,346 shares of the company were exchanged, compared to its average volume of 722,033. Myriad Genetics, Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $29.30. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -9.38 and a beta of 1.92. The company has a current ratio of 1.96, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average price of $27.46 and a two-hundred day moving average price of $24.28.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. The firm had revenue of $211.50 million for the quarter, compared to analyst estimates of $206.44 million. During the same period in the prior year, the firm posted ($0.21) earnings per share. The company's quarterly revenue was up 15.3% compared to the same quarter last year. As a group, research analysts anticipate that Myriad Genetics, Inc. will post -0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. TD Cowen lifted their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a "hold" rating in a research note on Wednesday, August 7th. Jefferies Financial Group reaffirmed an "underperform" rating and issued a $20.00 price objective (down from $25.00) on shares of Myriad Genetics in a research report on Monday, June 3rd. Piper Sandler increased their target price on Myriad Genetics from $28.00 to $30.00 and gave the stock a "neutral" rating in a report on Tuesday, August 13th. Wells Fargo & Company initiated coverage on Myriad Genetics in a research note on Tuesday, August 27th. They issued an "overweight" rating and a $35.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Myriad Genetics from $17.00 to $20.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $28.91.

Insider Buying and Selling

In other Myriad Genetics news, Director Heinrich Dreismann sold 10,000 shares of the company's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $27.05, for a total value of $270,500.00. Following the sale, the director now owns 121,648 shares in the company, valued at $3,290,578.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Myriad Genetics news, Director Heinrich Dreismann sold 10,000 shares of Myriad Genetics stock in a transaction on Monday, September 9th. The shares were sold at an average price of $27.05, for a total transaction of $270,500.00. Following the completion of the transaction, the director now directly owns 121,648 shares of the company's stock, valued at $3,290,578.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the completion of the transaction, the director now directly owns 42,533 shares in the company, valued at $1,188,797.35. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

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.