Susquehanna International Group LLP Decreases Stock Holdings in Myriad Genetics, Inc. $MYGN

Susquehanna International Group LLP lowered its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN) by 80.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 63,381 shares of the company’s stock after selling 260,138 shares during the quarter. Susquehanna International Group LLP’s holdings in Myriad Genetics were worth $362,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MYGN. Allworth Financial LP acquired a new position in shares of Myriad Genetics during the 2nd quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its position in Myriad Genetics by 2,333.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company’s stock worth $25,000 after purchasing an additional 4,480 shares during the period. Quarry LP increased its holdings in Myriad Genetics by 155.6% in the 4th quarter. Quarry LP now owns 4,365 shares of the company’s stock valued at $27,000 after purchasing an additional 2,657 shares in the last quarter. Royal Bank of Canada raised its position in Myriad Genetics by 129.6% in the fourth quarter. Royal Bank of Canada now owns 4,993 shares of the company’s stock valued at $31,000 after purchasing an additional 2,818 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Myriad Genetics in the second quarter valued at about $37,000. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MYGN shares. Stephens lowered their target price on Myriad Genetics from $5.00 to $3.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 18th. Wall Street Zen downgraded shares of Myriad Genetics from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Piper Sandler lowered shares of Myriad Genetics from an “overweight” rating to an “underweight” rating and set a $2.00 price objective on the stock. in a research note on Tuesday. Weiss Ratings cut shares of Myriad Genetics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company decreased their target price on shares of Myriad Genetics from $5.50 to $3.00 and set an “equal weight” rating for the company in a research note on Monday, August 3rd. Four research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $3.60.

Insider Transactions at Myriad Genetics

In other Myriad Genetics news, Director Rashmi Kumar sold 15,000 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $4.46, for a total transaction of $66,900.00. Following the transaction, the director directly owned 171,889 shares in the company, valued at $766,624.94. This represents a 8.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.90% of the stock is owned by corporate insiders.

Myriad Genetics Trading Down 1.2%

Shares of MYGN opened at $3.18 on Wednesday. Myriad Genetics, Inc. has a one year low of $2.74 and a one year high of $8.59. The stock has a 50-day moving average price of $4.57 and a 200 day moving average price of $4.54. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.21. The company has a market capitalization of $304.17 million, a P/E ratio of -2.67 and a beta of 1.68.

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

Myriad Genetics Company 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.