GSA Capital Partners LLP Makes New Investment in Myriad Genetics, Inc. $MYGN

GSA Capital Partners LLP acquired a new position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 187,819 shares of the company’s stock, valued at approximately $1,155,000. GSA Capital Partners LLP owned about 0.20% of Myriad Genetics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in 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 last quarter. Glenview Capital Management LLC boosted its stake in Myriad Genetics by 17.6% during the second quarter. Glenview Capital Management LLC now owns 4,587,407 shares of the company’s stock worth $24,359,000 after buying an additional 687,857 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Myriad Genetics by 157.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,442,912 shares of the company’s stock worth $17,662,000 after buying an additional 1,492,405 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in Myriad Genetics by 44.7% during the second quarter. Qube Research & Technologies Ltd now owns 2,051,588 shares of the company’s stock worth $10,894,000 after buying an additional 633,439 shares during the last quarter. Finally, Kent Lake PR LLC acquired a new position in Myriad Genetics during the second quarter worth $6,638,000. Institutional investors and hedge funds own 99.02% of the company’s stock.

Insider Buying and Selling

In other news, Director Paul Bisaro bought 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average price of $3.69 per share, with a total value of $27,675.00. Following the purchase, the director owned 97,441 shares in the company, valued at approximately $359,557.29. The trade was a 8.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director S. Louise Phanstiel bought 50,407 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were purchased at an average cost of $4.80 per share, for a total transaction of $241,953.60. Following the purchase, the director owned 233,951 shares in the company, valued at $1,122,964.80. This represents a 27.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 152,007 shares of company stock valued at $722,223. Corporate insiders own 1.90% of the company’s stock.

Myriad Genetics Price Performance

MYGN opened at $3.91 on Friday. The stock’s 50-day moving average price is $4.54 and its 200 day moving average price is $5.55. Myriad Genetics, Inc. has a 12-month low of $3.53 and a 12-month high of $8.59. The company has a current ratio of 2.40, a quick ratio of 2.19 and a debt-to-equity ratio of 0.36. The firm has a market cap of $369.30 million, a price-to-earnings ratio of -0.91 and a beta of 1.81.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MYGN. Weiss Ratings lowered Myriad Genetics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. Wells Fargo & Company decreased their price target on Myriad Genetics from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. TD Cowen decreased their price target on Myriad Genetics from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. UBS Group decreased their price target on Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. Finally, Zacks Research raised Myriad Genetics from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell 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 $6.50.

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.