Assenagon Asset Management S.A. Reduces Stock Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Assenagon Asset Management S.A. lowered its stake in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 33.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 167,233 shares of the company's stock after selling 83,291 shares during the period. Assenagon Asset Management S.A. owned 0.18% of Myriad Genetics worth $4,581,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MYGN. Vanguard Group Inc. grew its stake in shares of Myriad Genetics by 8.6% in the 4th quarter. Vanguard Group Inc. now owns 9,954,233 shares of the company's stock worth $190,524,000 after buying an additional 789,496 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Myriad Genetics by 80.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 334,717 shares of the company's stock valued at $7,620,000 after acquiring an additional 149,234 shares in the last quarter. Earnest Partners LLC lifted its position in Myriad Genetics by 3.5% in the 2nd quarter. Earnest Partners LLC now owns 4,072,018 shares of the company's stock valued at $99,602,000 after acquiring an additional 138,960 shares in the last quarter. Sei Investments Co. lifted its position in Myriad Genetics by 6.1% in the 1st quarter. Sei Investments Co. now owns 2,293,185 shares of the company's stock valued at $48,891,000 after acquiring an additional 131,751 shares in the last quarter. Finally, AMH Equity Ltd bought a new position in Myriad Genetics in the 1st quarter valued at approximately $2,345,000. Hedge funds and other institutional investors own 99.02% of the company's stock.

Insider Buying and Selling at Myriad Genetics

In other news, 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 sale, the director now owns 42,533 shares of the company's stock, valued at approximately $1,188,797.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total value of $1,286,035.40. Following the transaction, the director now directly owns 42,533 shares in the company, valued at $1,188,797.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Heinrich Dreismann sold 10,000 shares of the stock in a transaction that occurred 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 owns 121,648 shares in the company, valued at $3,290,578.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,012 shares of company stock valued at $1,900,485 over the last 90 days. 2.10% of the stock is owned by insiders.

Myriad Genetics Stock Performance

NASDAQ MYGN traded up $0.50 on Wednesday, hitting $22.77. 404,255 shares of the company's stock traded hands, compared to its average volume of 704,645. The company has a current ratio of 1.96, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. Myriad Genetics, Inc. has a 1-year low of $14.50 and a 1-year high of $29.30. The firm's 50-day moving average price is $25.89 and its two-hundred day moving average price is $24.75. The firm has a market capitalization of $2.07 billion, a PE ratio of -12.58 and a beta of 1.91.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $211.50 million during the quarter, compared to analysts' expectations of $206.44 million. During the same period in the prior year, the business posted ($0.21) earnings per share. The firm's revenue for the quarter was up 15.3% on a year-over-year basis. As a group, analysts expect that Myriad Genetics, Inc. will post -0.35 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on MYGN. JPMorgan Chase & Co. upped their price objective on Myriad Genetics from $17.00 to $20.00 and gave the company an "underweight" rating in a research report on Wednesday, August 7th. Scotiabank increased their price target on Myriad Genetics from $29.00 to $34.00 and gave the company a "sector outperform" rating in a report on Tuesday, August 13th. Wells Fargo & Company started coverage on Myriad Genetics in a report on Tuesday, August 27th. They set an "overweight" rating and a $35.00 price target on the stock. Morgan Stanley began coverage on Myriad Genetics in a report on Thursday, September 19th. They set an "equal weight" rating and a $32.00 price target on the stock. Finally, TD Cowen raised their target price on Myriad Genetics from $28.00 to $30.00 and gave the stock a "hold" rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $28.91.

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.