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

Inspire Investing LLC lifted its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 84.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 31,373 shares of the company’s stock after buying an additional 14,406 shares during the period. Inspire Investing LLC’s holdings in Myriad Genetics were worth $430,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Loomis Sayles & Co. L P boosted its stake in Myriad Genetics by 153.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,189,601 shares of the company’s stock worth $59,973,000 after purchasing an additional 1,326,497 shares during the period. Disciplined Growth Investors Inc. MN boosted its stake in Myriad Genetics by 21.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock worth $69,226,000 after purchasing an additional 440,107 shares during the period. Iron Triangle Partners LP acquired a new position in Myriad Genetics in the 3rd quarter worth $11,007,000. State Street Corp boosted its stake in Myriad Genetics by 8.3% in the 3rd quarter. State Street Corp now owns 4,703,442 shares of the company’s stock worth $128,827,000 after purchasing an additional 359,685 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in Myriad Genetics by 26.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,063,711 shares of the company’s stock worth $29,135,000 after purchasing an additional 224,255 shares during the period. Institutional investors own 99.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MYGN shares. Bank of America reduced their target price on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating for the company in a research note on Friday, December 13th. Stephens restated an “equal weight” rating and set a $20.00 price objective on shares of Myriad Genetics in a research note on Thursday, January 16th. Leerink Partnrs downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Piper Sandler reduced their price objective on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. Finally, Leerink Partners downgraded shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $30.00 to $21.00 in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Myriad Genetics currently has a consensus rating of “Hold” and a consensus price target of $23.92.

Myriad Genetics Trading Up 0.5 %

Shares of NASDAQ:MYGN opened at $12.82 on Friday. Myriad Genetics, Inc. has a 52-week low of $12.04 and a 52-week high of $29.30. The company has a market capitalization of $1.17 billion, a P/E ratio of -9.86 and a beta of 1.89. The company has a 50-day simple moving average of $14.34 and a 200 day simple moving average of $21.46. 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 released its quarterly earnings results on Thursday, November 7th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.08). The company had revenue of $213.30 million during 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 period in the prior year, the company earned ($0.17) earnings per share. Sell-side analysts forecast that Myriad Genetics, Inc. will post -0.28 earnings per share for the current year.

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.