Inspire Investing LLC Acquires 14,406 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Inspire Investing LLC boosted its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 84.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,373 shares of the company’s stock after purchasing an additional 14,406 shares during the period. Inspire Investing LLC’s holdings in Myriad Genetics were worth $430,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MYGN. Point72 Hong Kong Ltd bought a new position in Myriad Genetics during the third quarter worth about $32,000. GAMMA Investing LLC raised its stake in shares of Myriad Genetics by 34.1% in the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after acquiring an additional 412 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Myriad Genetics in the second quarter valued at approximately $60,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Myriad Genetics in the second quarter valued at approximately $82,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Myriad Genetics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock valued at $87,000 after acquiring an additional 583 shares during the last quarter. Institutional investors own 99.02% of the company’s stock.

Myriad Genetics Stock Performance

Shares of Myriad Genetics stock opened at $12.82 on Friday. The firm has a fifty day moving average of $14.34 and a two-hundred day moving average of $21.46. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -9.86 and a beta of 1.89. Myriad Genetics, Inc. has a 52 week low of $12.04 and a 52 week high of $29.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Thursday, November 7th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.08). The business had revenue of $213.30 million for the quarter, compared to the consensus estimate of $209.82 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. During the same quarter in the previous year, the firm posted ($0.17) EPS. As a group, equities research analysts predict that Myriad Genetics, Inc. will post -0.28 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MYGN shares. Leerink Partners cut shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and cut their target price for the company from $30.00 to $21.00 in a research note on Monday, December 9th. StockNews.com upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Stephens reiterated an “equal weight” rating and issued a $20.00 target price on shares of Myriad Genetics in a research note on Thursday, January 16th. UBS Group initiated coverage on shares of Myriad Genetics in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 target price for the company. Finally, Morgan Stanley lowered their price target on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Myriad Genetics currently has an average rating of “Hold” and a consensus price target of $23.92.

About Myriad Genetics

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.