OmniStar Financial Group Inc. Makes New $863,000 Investment in Myriad Genetics, Inc. (NASDAQ:MYGN)

OmniStar Financial Group Inc. acquired a new stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 31,506 shares of the company's stock, valued at approximately $863,000.

A number of other institutional investors also recently added to or reduced their stakes in MYGN. Hexagon Capital Partners LLC boosted its stake in Myriad Genetics by 75.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company's stock valued at $28,000 after buying an additional 491 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Myriad Genetics in the 2nd quarter valued at $36,000. GAMMA Investing LLC grew its holdings in shares of Myriad Genetics by 34.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company's stock worth $44,000 after purchasing an additional 412 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Myriad Genetics during the 2nd quarter worth about $60,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Myriad Genetics during the 2nd quarter valued at about $82,000. 99.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MYGN. TD Cowen lifted their target price 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. Piper Sandler raised their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a "neutral" rating in a report on Tuesday, August 13th. 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 report on Wednesday, August 7th. Scotiabank lifted their target price on Myriad Genetics from $29.00 to $34.00 and gave the company a "sector outperform" rating in a research note on Tuesday, August 13th. Finally, Morgan Stanley started coverage on Myriad Genetics in a research note on Thursday, September 19th. They set an "equal weight" rating and a $32.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $28.91.

Myriad Genetics Trading Up 0.3 %

NASDAQ:MYGN traded up $0.06 during mid-day trading on Friday, hitting $23.39. The company had a trading volume of 419,078 shares, compared to its average volume of 715,080. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 1.96. Myriad Genetics, Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $29.30. The firm has a market cap of $2.12 billion, a P/E ratio of -8.29 and a beta of 1.91. The business's fifty day moving average is $26.80 and its two-hundred day moving average is $24.61.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.06. The business had revenue of $211.50 million for the quarter, compared to the consensus estimate of $206.44 million. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. Myriad Genetics's revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the company posted ($0.21) EPS. As a group, research analysts expect that Myriad Genetics, Inc. will post -0.34 earnings per share for the current year.

Insider Activity

In related news, Director Colleen F. Reitan sold 46,012 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the sale, the director now owns 42,533 shares of the company's stock, valued at approximately $1,188,797.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Myriad Genetics news, Director Heinrich Dreismann sold 10,000 shares of Myriad Genetics stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $27.05, for a total value of $270,500.00. Following the transaction, the director now owns 121,648 shares of the company's stock, valued at approximately $3,290,578.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the sale, the director now directly owns 42,533 shares of the company's stock, valued at $1,188,797.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,012 shares of company stock valued at $1,900,485 in the last quarter. Company insiders own 2.10% of the company's stock.

About Myriad Genetics

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.