Trexquant Investment LP Trims Stake in Myriad Genetics, Inc. (NASDAQ:MYGN)

Trexquant Investment LP decreased its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 31.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 92,376 shares of the company's stock after selling 42,569 shares during the quarter. Trexquant Investment LP owned about 0.10% of Myriad Genetics worth $1,266,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. KBC Group NV boosted its holdings in shares of Myriad Genetics by 132.8% during the 4th quarter. KBC Group NV now owns 5,845 shares of the company's stock valued at $80,000 after purchasing an additional 3,334 shares during the last quarter. Inspire Advisors LLC boosted its stake in Myriad Genetics by 48.1% during the fourth quarter. Inspire Advisors LLC now owns 11,226 shares of the company's stock valued at $154,000 after buying an additional 3,644 shares during the last quarter. E Fund Management Co. Ltd. bought a new position in Myriad Genetics during the fourth quarter valued at approximately $161,000. Entropy Technologies LP purchased a new position in Myriad Genetics during the 4th quarter valued at approximately $178,000. Finally, Blue Trust Inc. increased its stake in Myriad Genetics by 14.1% in the 4th quarter. Blue Trust Inc. now owns 14,451 shares of the company's stock worth $198,000 after acquiring an additional 1,788 shares during the last quarter. 99.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MYGN. UBS Group reduced their price target on shares of Myriad Genetics from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. Bank of America lowered their price target on shares of Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating for the company in a report on Monday, March 3rd. Scotiabank reduced their price objective on Myriad Genetics from $24.00 to $20.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 1st. Stephens reaffirmed an "equal weight" rating and issued a $20.00 price objective on shares of Myriad Genetics in a research note on Thursday, January 16th. Finally, Raymond James restated an "outperform" rating and set a $19.00 price target (down previously from $27.00) on shares of Myriad Genetics in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Myriad Genetics currently has a consensus rating of "Hold" and a consensus target price of $20.89.

Myriad Genetics Stock Performance

Shares of MYGN traded up $0.04 during trading hours on Tuesday, hitting $8.12. The stock had a trading volume of 118,247 shares, compared to its average volume of 898,221. The firm has a market capitalization of $741.43 million, a price-to-earnings ratio of -6.25 and a beta of 1.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The firm has a 50-day moving average price of $10.62 and a 200 day moving average price of $14.78. Myriad Genetics, Inc. has a fifty-two week low of $7.35 and a fifty-two week high of $29.30.

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

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.