Headlands Technologies LLC Boosts Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Headlands Technologies LLC boosted its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN) by 260.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,769 shares of the company’s stock after purchasing an additional 15,731 shares during the quarter. Headlands Technologies LLC’s holdings in Myriad Genetics were worth $298,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. KBC Group NV boosted its holdings in shares of Myriad Genetics by 132.8% in the 4th quarter. KBC Group NV now owns 5,845 shares of the company’s stock valued at $80,000 after buying an additional 3,334 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in Myriad Genetics by 43.8% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock valued at $132,000 after acquiring an additional 1,471 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Myriad Genetics during the third quarter worth about $153,000. Inspire Advisors LLC increased its position in shares of Myriad Genetics by 48.1% during the fourth quarter. Inspire Advisors LLC now owns 11,226 shares of the company’s stock worth $154,000 after purchasing an additional 3,644 shares in the last quarter. Finally, E Fund Management Co. Ltd. purchased a new stake in shares of Myriad Genetics in the 4th quarter valued at about $161,000. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MYGN. Leerink Partners downgraded Myriad Genetics from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $30.00 to $21.00 in a research note on Monday, December 9th. Scotiabank cut their target price on shares of Myriad Genetics from $24.00 to $20.00 and set a “sector outperform” rating on the stock in a report on Tuesday. UBS Group decreased their price target on shares of Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Stephens restated an “equal weight” rating and issued a $20.00 price objective on shares of Myriad Genetics in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group reduced their target price on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.89.

Myriad Genetics Stock Performance

Shares of MYGN stock opened at $8.13 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The stock has a 50 day simple moving average of $11.36 and a 200-day simple moving average of $15.93. The company has a market cap of $742.34 million, a price-to-earnings ratio of -6.25 and a beta of 1.79. Myriad Genetics, Inc. has a 12-month low of $7.88 and a 12-month high of $29.30.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12). The business had revenue of $210.60 million during the quarter, compared to analysts’ expectations of $210.35 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same quarter in the previous year, the company posted ($0.12) EPS. On average, equities analysts forecast that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Myriad Genetics Company Profile

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.