UBS Group AG Grows Stake in Myriad Genetics, Inc. $MYGN

UBS Group AG grew its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 29.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 639,691 shares of the company’s stock after purchasing an additional 147,045 shares during the quarter. UBS Group AG owned about 0.69% of Myriad Genetics worth $3,934,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Myriad Genetics by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 8,225,371 shares of the company’s stock worth $50,586,000 after buying an additional 342,856 shares during the period. CWM LLC lifted its stake in shares of Myriad Genetics by 13.3% during the fourth quarter. CWM LLC now owns 71,774 shares of the company’s stock worth $441,000 after buying an additional 8,449 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Myriad Genetics during the fourth quarter worth $722,000. Aberdeen Group plc lifted its stake in shares of Myriad Genetics by 38.6% during the fourth quarter. Aberdeen Group plc now owns 885,801 shares of the company’s stock worth $5,448,000 after buying an additional 246,748 shares during the period. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Myriad Genetics during the fourth quarter worth $79,000. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Myriad Genetics

In other news, CEO Samraat S. Raha acquired 40,000 shares of the business’s stock in a transaction on Monday, March 9th. The stock was bought at an average price of $5.00 per share, with a total value of $200,000.00. Following the completion of the acquisition, the chief executive officer owned 493,104 shares of the company’s stock, valued at approximately $2,465,520. This represents a 8.83% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director S. Louise Phanstiel acquired 50,407 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was purchased at an average cost 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 $1,122,964.80. This represents a 27.46% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 152,007 shares of company stock valued at $722,223. Corporate insiders own 1.90% of the company’s stock.

Myriad Genetics Stock Down 2.3%

MYGN opened at $3.82 on Friday. Myriad Genetics, Inc. has a fifty-two week low of $3.53 and a fifty-two week high of $8.59. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.19 and a current ratio of 2.40. The company has a fifty day moving average of $4.51 and a two-hundred day moving average of $5.54. The stock has a market capitalization of $360.80 million, a price-to-earnings ratio of -0.89 and a beta of 1.81.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Myriad Genetics had a negative net margin of 48.24% and a negative return on equity of 8.51%. The firm had revenue of $200.40 million during the quarter, compared to analysts’ expectations of $202.42 million. During the same period in the previous year, the firm posted ($0.03) EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts expect that Myriad Genetics, Inc. will post -0.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MYGN. UBS Group lowered their price objective on shares of Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, February 24th. Zacks Research upgraded shares of Myriad Genetics from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 26th. Weiss Ratings downgraded shares of Myriad Genetics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 18th. TD Cowen lowered their price objective on shares of Myriad Genetics from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company lowered their price objective on shares of Myriad Genetics from $6.00 to $5.50 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.50.

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.