OP Asset Management Ltd Buys Shares of 148,929 Myriad Genetics, Inc. $MYGN

OP Asset Management Ltd purchased a new stake in Myriad Genetics, Inc. (NASDAQ:MYGN) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 148,929 shares of the company’s stock, valued at approximately $670,000. OP Asset Management Ltd owned approximately 0.16% of Myriad Genetics as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. increased its holdings in Myriad Genetics by 1.8% during the third quarter. Alliancebernstein L.P. now owns 101,234 shares of the company’s stock valued at $732,000 after buying an additional 1,784 shares during the period. Legal & General Group Plc lifted its holdings in Myriad Genetics by 1.0% during the second quarter. Legal & General Group Plc now owns 237,688 shares of the company’s stock worth $1,262,000 after buying an additional 2,313 shares during the period. Quarry LP lifted its holdings in Myriad Genetics by 155.6% during the fourth quarter. Quarry LP now owns 4,365 shares of the company’s stock worth $27,000 after buying an additional 2,657 shares during the period. Franklin Resources Inc. boosted its position in Myriad Genetics by 2.7% during the 4th quarter. Franklin Resources Inc. now owns 103,374 shares of the company’s stock valued at $636,000 after acquiring an additional 2,714 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in Myriad Genetics by 129.6% during the 4th quarter. Royal Bank of Canada now owns 4,993 shares of the company’s stock valued at $31,000 after acquiring an additional 2,818 shares in the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their price target on 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. Weiss Ratings downgraded Myriad Genetics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 24th. Finally, TD Cowen cut their target price 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. One 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.50.

Myriad Genetics Price Performance

Shares of MYGN opened at $5.71 on Wednesday. The company has a market cap of $539.31 million, a price-to-earnings ratio of -1.33 and a beta of 1.73. Myriad Genetics, Inc. has a twelve month low of $3.53 and a twelve month high of $8.59. The company has a quick ratio of 2.19, a current ratio of 2.40 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average of $4.46 and a two-hundred day moving average of $5.07.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business 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) earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts predict that Myriad Genetics, Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Myriad Genetics

In other Myriad Genetics news, Director Paul Bisaro purchased 7,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of $3.69 per share, for a total transaction of $27,675.00. Following the completion of the purchase, the director owned 97,441 shares in the company, valued at $359,557.29. This represents a 8.34% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rashmi Kumar sold 15,000 shares of the firm’s 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 completion of the sale, the director directly owned 171,889 shares of the company’s stock, valued at approximately $766,624.94. This represents a 8.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.90% of the stock is owned by insiders.

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.