8,371 Shares in Myriad Genetics, Inc. (NASDAQ:MYGN) Bought by Contravisory Investment Management Inc.

by · The Markets Daily

Contravisory Investment Management Inc. bought a new stake in Myriad Genetics, Inc. (NASDAQ:MYGN – Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 8,371 shares of the company’s stock, valued at approximately $229,000.

Several other large investors have also modified their holdings of MYGN. GAMMA Investing LLC boosted its holdings in Myriad Genetics by 34.1% in the third 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 period. Handelsbanken Fonder AB lifted its holdings in Myriad Genetics by 12.8% in the third quarter. Handelsbanken Fonder AB now owns 27,288 shares of the company’s stock worth $747,000 after acquiring an additional 3,100 shares during the last quarter. SG Americas Securities LLC acquired a new position in Myriad Genetics in the third quarter valued at approximately $649,000. Point72 DIFC Ltd bought a new position in shares of Myriad Genetics during the second quarter valued at approximately $60,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Myriad Genetics during the 2nd quarter worth approximately $82,000. Institutional investors own 99.02% of the company’s stock.

Analyst Ratings Changes

MYGN has been the subject of a number of analyst reports. Wells Fargo & Company assumed coverage on Myriad Genetics in a research report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price objective for the company. Scotiabank upped their price target on shares of Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 13th. TD Cowen boosted 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 research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. boosted 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 research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $28.91.

Get Our Latest Analysis on Myriad Genetics

Myriad Genetics Trading Up 4.4 %

Shares of MYGN stock opened at $24.08 on Friday. The stock has a 50-day simple moving average of $27.09 and a 200 day simple moving average of $24.52. The stock has a market capitalization of $2.18 billion, a P/E ratio of -8.54 and a beta of 1.91. Myriad Genetics, Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $29.30. The company has a quick ratio of 1.78, a current ratio of 1.96 and a debt-to-equity ratio of 0.05.

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, beating the consensus estimate of ($0.01) by $0.06. The company had revenue of $211.50 million during the quarter, compared to analyst estimates of $206.44 million. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.21) EPS. On average, sell-side analysts expect that Myriad Genetics, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Myriad Genetics

In other news, Director Colleen F. Reitan sold 46,012 shares of the business’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 directly owns 42,533 shares of the company’s stock, valued at $1,188,797.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 42,533 shares in the company, valued at $1,188,797.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Heinrich Dreismann sold 10,000 shares of the business’s 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 sale, the director now owns 121,648 shares in the company, valued at $3,290,578.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,012 shares of company stock valued at $1,900,485 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Myriad Genetics Profile

(Free Report)

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.

Further Reading

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