Y Intercept Hong Kong Ltd Has $2.94 Million Position in Myriad Genetics, Inc. $MYGN

Y Intercept Hong Kong Ltd grew its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 83.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 654,224 shares of the company’s stock after purchasing an additional 297,331 shares during the period. Y Intercept Hong Kong Ltd owned about 0.69% of Myriad Genetics worth $2,944,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Millennium Management LLC lifted its holdings in Myriad Genetics by 41.1% during the 4th quarter. Millennium Management LLC now owns 6,700,158 shares of the company’s stock valued at $41,206,000 after purchasing an additional 1,951,831 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Myriad Genetics by 157.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,442,912 shares of the company’s stock worth $17,662,000 after buying an additional 1,492,405 shares during the last quarter. Kent Lake PR LLC bought a new stake in Myriad Genetics during the second quarter worth about $6,638,000. Federated Hermes Inc. increased its holdings in shares of Myriad Genetics by 103,916.0% during the second quarter. Federated Hermes Inc. now owns 1,122,333 shares of the company’s stock worth $5,960,000 after buying an additional 1,121,254 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Myriad Genetics by 19.9% during the fourth quarter. State Street Corp now owns 5,966,567 shares of the company’s stock worth $36,694,000 after buying an additional 990,075 shares in the last quarter. Institutional investors own 99.02% of the company’s stock.

Myriad Genetics Price Performance

Shares of MYGN stock opened at $5.86 on Wednesday. The firm has a market cap of $553.48 million, a price-to-earnings ratio of -1.36 and a beta of 1.64. Myriad Genetics, Inc. has a 12 month low of $3.53 and a 12 month high of $8.59. The company has a quick ratio of 2.19, a current ratio of 2.40 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average price of $4.56 and a 200 day moving average price of $5.03.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The business had revenue of $200.40 million for the quarter, compared to analyst estimates of $202.42 million. Myriad Genetics had a negative return on equity of 8.51% and a negative net margin of 48.24%.The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) EPS. Research analysts expect that Myriad Genetics, Inc. will post -0.17 EPS for the current year.

Wall Street Analyst Weigh In

MYGN has been the topic of several recent analyst reports. TD Cowen reduced their target price on Myriad Genetics from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, May 6th. Wells Fargo & Company dropped their price target on Myriad Genetics from $6.00 to $5.50 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Finally, Weiss Ratings lowered Myriad Genetics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Myriad Genetics presently has a consensus rating of “Hold” and a consensus price target of $6.50.

Insiders Place Their Bets

In other Myriad Genetics news, Director Paul Bisaro bought 7,500 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was bought at an average price of $3.69 per share, for a total transaction of $27,675.00. Following the transaction, the director owned 97,441 shares of the company’s stock, valued at approximately $359,557.29. The trade was a 8.34% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rashmi Kumar sold 15,000 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $4.46, for a total value of $66,900.00. Following the completion of the transaction, the director owned 171,889 shares in the company, valued at $766,624.94. This represents a 8.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.90% of the stock is currently owned by insiders.

About Myriad Genetics

Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual’s risk for various hereditary conditions and to guide personalized treatment decisions. The company’s core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women’s health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.