Assenagon Asset Management S.A. Acquires 279,227 Shares of Myriad Genetics, Inc. $MYGN

Assenagon Asset Management S.A. boosted its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 23.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,446,961 shares of the company’s stock after purchasing an additional 279,227 shares during the period. Assenagon Asset Management S.A.’s holdings in Myriad Genetics were worth $6,511,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in shares of Myriad Genetics by 2,333.3% in the second quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company’s stock valued at $25,000 after buying an additional 4,480 shares during the last quarter. Quarry LP grew its holdings in Myriad Genetics by 155.6% during the 4th quarter. Quarry LP now owns 4,365 shares of the company’s stock worth $27,000 after acquiring an additional 2,657 shares during the last quarter. Royal Bank of Canada grew its holdings in Myriad Genetics by 129.6% during the 4th quarter. Royal Bank of Canada now owns 4,993 shares of the company’s stock worth $31,000 after acquiring an additional 2,818 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Myriad Genetics in the 2nd quarter valued at about $37,000. Finally, American Century Companies Inc. acquired a new stake in Myriad Genetics in the 2nd quarter valued at about $55,000. Institutional investors own 99.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MYGN shares. Weiss Ratings lowered shares of Myriad Genetics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday. TD Cowen lowered their price target on shares of Myriad Genetics from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. Finally, Wells Fargo & Company dropped 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 report 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.50.

Myriad Genetics Stock Performance

MYGN stock opened at $5.88 on Monday. Myriad Genetics, Inc. has a 1-year low of $3.53 and a 1-year 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 $555.37 million, a PE ratio of -1.37 and a beta of 1.74. The business’s 50-day moving average price is $4.43 and its two-hundred day moving average price is $5.09.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, May 5th. The company reported ($0.09) 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 company had revenue of $200.40 million for the quarter, compared to analyst estimates of $202.42 million. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.03) earnings per share. As a group, research analysts forecast that Myriad Genetics, Inc. will post -0.17 earnings per share for the current year.

Insider Activity

In other Myriad Genetics news, Director Rashmi Kumar sold 15,000 shares of Myriad Genetics stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $4.46, for a total value of $66,900.00. Following the sale, the director owned 171,889 shares of the company’s stock, valued at $766,624.94. This trade represents a 8.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Bisaro purchased 7,500 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $3.69 per share, for a total transaction of $27,675.00. Following the completion of the acquisition, the director owned 97,441 shares of the company’s stock, valued at approximately $359,557.29. This represents a 8.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.90% of the company’s stock.

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.