Squarepoint Ops LLC Lowers Position in Myriad Genetics, Inc. $MYGN

Squarepoint Ops LLC decreased its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 25.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 383,699 shares of the company’s stock after selling 133,297 shares during the quarter. Squarepoint Ops LLC’s holdings in Myriad Genetics were worth $2,191,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of MYGN. Corient Private Wealth LP bought a new position in shares of Myriad Genetics during the 2nd quarter valued at about $103,000. Syon Capital LLC bought a new stake in shares of Myriad Genetics in the second quarter worth about $128,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Myriad Genetics in the second quarter worth about $757,000. Bank of America Corp DE purchased a new stake in shares of Myriad Genetics in the second quarter worth about $5,150,000. Finally, Man Group plc bought a new position in Myriad Genetics during the second quarter valued at approximately $5,189,000. 99.02% of the stock is currently owned by institutional investors.

Myriad Genetics Price Performance

Myriad Genetics stock opened at $3.79 on Tuesday. The firm has a 50-day moving average price of $4.12 and a 200-day moving average price of $4.47. The firm has a market capitalization of $362.51 million, a PE ratio of -3.18 and a beta of 1.68. The company has a current ratio of 2.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. Myriad Genetics, Inc. has a 12-month low of $2.74 and a 12-month high of $8.59.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.19). Myriad Genetics had a negative net margin of 13.96% and a negative return on equity of 16.09%. The firm had revenue of $190.70 million for the quarter, compared to the consensus estimate of $206.03 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities research analysts forecast that Myriad Genetics, Inc. will post -0.99 EPS for the current year.

Analyst Ratings Changes

MYGN has been the topic of a number of research reports. TD Cowen reduced their price objective on Myriad Genetics from $6.00 to $4.00 and set a “hold” rating on the stock in a research note on Friday, July 31st. Weiss Ratings lowered shares of Myriad Genetics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 30th. Wells Fargo & Company reduced their price target on shares of Myriad Genetics from $5.50 to $3.00 and set an “equal weight” rating on the stock in a research report on Monday, August 3rd. Zacks Research downgraded shares of Myriad Genetics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen lowered shares of Myriad Genetics from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Four analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $3.12.

About Myriad Genetics

Myriad Genetics, Inc is a molecular diagnostics company that develops and provides genetic tests designed to help healthcare providers assess disease risk, guide treatment decisions and support personalized care. The company serves physicians, health systems, pharmaceutical companies and patients, with a focus on areas including hereditary cancer, precision oncology, pharmacogenomics and women’s health.

Its portfolio includes hereditary cancer testing, such as MyRisk, and oncology tests that analyze tumor biology to help inform treatment planning.