E Fund Management Co. Ltd. Invests $161,000 in Myriad Genetics, Inc. (NASDAQ:MYGN)

E Fund Management Co. Ltd. acquired a new stake in Myriad Genetics, Inc. (NASDAQ:MYGN) in the fourth quarter, Holdings Channel.com reports. The fund acquired 11,752 shares of the company’s stock, valued at approximately $161,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new position in Myriad Genetics in the 3rd quarter valued at about $32,000. KBC Group NV boosted its stake in shares of Myriad Genetics by 132.8% in the fourth quarter. KBC Group NV now owns 5,845 shares of the company’s stock valued at $80,000 after purchasing an additional 3,334 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its position in Myriad Genetics by 43.8% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock valued at $132,000 after buying an additional 1,471 shares during the period. Meeder Asset Management Inc. grew its stake in shares of Myriad Genetics by 588.4% in the third quarter. Meeder Asset Management Inc. now owns 4,922 shares of the company’s stock worth $135,000 after acquiring an additional 4,207 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Myriad Genetics in the third quarter worth $153,000. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Craig Hallum started coverage on Myriad Genetics in a report on Wednesday, February 12th. They issued a “buy” rating and a $29.00 target price for the company. Morgan Stanley reduced their target price on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. StockNews.com cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. Leerink Partnrs lowered shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Finally, Bank of America decreased their price objective on shares of Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating for the company in a research report on Monday, March 3rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Myriad Genetics currently has a consensus rating of “Hold” and a consensus target price of $21.82.

Myriad Genetics Stock Performance

Shares of MYGN stock opened at $10.18 on Monday. The stock’s 50-day moving average is $12.95 and its two-hundred day moving average is $18.29. 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, Inc. has a 1 year low of $9.76 and a 1 year high of $29.30. The firm has a market cap of $929.53 million, a price-to-earnings ratio of -7.83 and a beta of 1.79.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The firm had revenue of $210.60 million for the quarter, compared to analysts’ expectations of $210.35 million. During the same quarter in the prior year, the business earned ($0.12) EPS. Analysts predict that Myriad Genetics, Inc. will post -0.3 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.