AQR Capital Management LLC Increases Holdings in Myriad Genetics, Inc. (NASDAQ:MYGN)

AQR Capital Management LLC lifted its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 17.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 20,910 shares of the company’s stock after buying an additional 3,116 shares during the period. AQR Capital Management LLC’s holdings in Myriad Genetics were worth $511,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Myriad Genetics in the 2nd quarter valued at $82,000. Point72 Asset Management L.P. grew its stake in shares of Myriad Genetics by 7.9% during the second quarter. Point72 Asset Management L.P. now owns 839,456 shares of the company’s stock valued at $20,533,000 after acquiring an additional 61,260 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Myriad Genetics during the second quarter worth about $60,000. Public Sector Pension Investment Board lifted its holdings in Myriad Genetics by 9.7% in the second quarter. Public Sector Pension Investment Board now owns 199,139 shares of the company’s stock worth $4,871,000 after acquiring an additional 17,661 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Myriad Genetics by 5.4% in the second quarter. Sei Investments Co. now owns 2,417,192 shares of the company’s stock worth $59,125,000 after acquiring an additional 124,007 shares during the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Insider Buying and Selling

In related news, CEO Paul J. Diaz sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $22.93, for a total transaction of $343,950.00. Following the completion of the sale, the chief executive officer now directly owns 962,378 shares of the company’s stock, valued at $22,067,327.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Myriad Genetics news, CEO Paul J. Diaz sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the sale, the chief executive officer now owns 962,378 shares of the company’s stock, valued at approximately $22,067,327.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Colleen F. Reitan sold 46,012 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the completion of the sale, the director now directly owns 42,533 shares of the company’s stock, valued at $1,188,797.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,012 shares of company stock valued at $1,900,485 over the last ninety days. Insiders own 2.10% of the company’s stock.

Myriad Genetics Stock Performance

NASDAQ MYGN opened at $25.10 on Tuesday. The stock has a market cap of $2.27 billion, a P/E ratio of -8.90 and a beta of 1.91. Myriad Genetics, Inc. has a twelve month low of $13.82 and a twelve month high of $29.30. The company has a quick ratio of 1.78, a current ratio of 1.96 and a debt-to-equity ratio of 0.05. The company’s 50-day simple moving average is $27.07 and its 200 day simple moving average is $24.59.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $211.50 million for the quarter, compared to analyst estimates of $206.44 million. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. Myriad Genetics’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.21) earnings per share. As a group, research analysts forecast that Myriad Genetics, Inc. will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MYGN shares. Morgan Stanley began coverage on Myriad Genetics in a report on Thursday, September 19th. They set an “equal weight” rating and a $32.00 price target on the stock. Wells Fargo & Company initiated coverage on shares of Myriad Genetics in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price target on the stock. TD Cowen raised their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Scotiabank lifted their target price on shares of Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 13th. Finally, Piper Sandler lifted their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Myriad Genetics presently has an average rating of “Hold” and an average price target of $28.91.

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.