Anson Funds Management LP Decreases Stake in Myriad Genetics, Inc. $MYGN

Anson Funds Management LP lessened its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 62.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 504,382 shares of the company’s stock after selling 841,938 shares during the quarter. Anson Funds Management LP’s holdings in Myriad Genetics were worth $3,647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Aquatic Capital Management LLC increased its stake in shares of Myriad Genetics by 118.5% in the third quarter. Aquatic Capital Management LLC now owns 50,880 shares of the company’s stock worth $368,000 after buying an additional 27,593 shares during the last quarter. Algert Global LLC bought a new position in Myriad Genetics during the 3rd quarter valued at $6,601,000. Alliancebernstein L.P. grew its holdings in Myriad Genetics by 1.8% during the 3rd quarter. Alliancebernstein L.P. now owns 101,234 shares of the company’s stock worth $732,000 after acquiring an additional 1,784 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Myriad Genetics by 30.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 543,072 shares of the company’s stock worth $3,926,000 after acquiring an additional 126,630 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of Myriad Genetics by 65.0% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 55,449 shares of the company’s stock worth $401,000 after purchasing an additional 21,834 shares during the last quarter. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Myriad Genetics Stock Performance

Shares of MYGN stock opened at $4.66 on Friday. Myriad Genetics, Inc. has a 12-month low of $3.76 and a 12-month high of $10.32. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.49 and a quick ratio of 2.26. The firm has a market capitalization of $435.76 million, a price-to-earnings ratio of -1.18 and a beta of 1.91. The business has a 50 day simple moving average of $5.34 and a 200 day simple moving average of $6.54.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Monday, February 23rd. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. The company had revenue of $209.80 million during the quarter, compared to analyst estimates of $207.57 million. Myriad Genetics had a negative net margin of 44.38% and a negative return on equity of 6.35%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 EPS. On average, equities research analysts anticipate that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Analysts Set New Price Targets

MYGN has been the topic of a number of research analyst reports. Zacks Research raised Myriad Genetics from a “strong sell” rating to a “hold” rating in a report on Thursday, February 26th. Wells Fargo & Company dropped their price target on Myriad Genetics from $6.50 to $6.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Myriad Genetics in a research note on Monday, December 29th. Finally, UBS Group decreased their price objective on shares of Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, February 24th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $8.94.

Insider Buying and Selling at Myriad Genetics

In other news, CEO Samraat S. Raha purchased 40,000 shares of Myriad Genetics stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average price of $5.00 per share, for a total transaction of $200,000.00. Following the transaction, the chief executive officer owned 493,104 shares in the company, valued at $2,465,520. The trade was a 8.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director S. Louise Phanstiel bought 50,407 shares of Myriad Genetics stock in a transaction dated Thursday, February 26th. The stock was acquired at an average price of $4.80 per share, with a total value of $241,953.60. Following the acquisition, the director directly owned 233,951 shares of the company’s stock, valued at approximately $1,122,964.80. This represents a 27.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 144,507 shares of company stock worth $694,548 in the last ninety days. 2.40% of the stock is owned by corporate insiders.

Myriad Genetics Profile

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.