Y Intercept Hong Kong Ltd Has $552,000 Stake in Myriad Genetics, Inc. $MYGN

Y Intercept Hong Kong Ltd lessened its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 7.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 104,002 shares of the company’s stock after selling 8,982 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Myriad Genetics were worth $552,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Farther Finance Advisors LLC boosted its holdings in Myriad Genetics by 6,192.9% in the second quarter. Farther Finance Advisors LLC now owns 5,349 shares of the company’s stock worth $28,000 after acquiring an additional 5,264 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Myriad Genetics by 407.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,773 shares of the company’s stock valued at $31,000 after purchasing an additional 4,635 shares during the period. State of Wyoming increased its stake in Myriad Genetics by 147.0% during the 1st quarter. State of Wyoming now owns 8,641 shares of the company’s stock valued at $77,000 after purchasing an additional 5,143 shares in the last quarter. CWM LLC raised its holdings in Myriad Genetics by 600.2% during the first quarter. CWM LLC now owns 9,796 shares of the company’s stock worth $87,000 after buying an additional 8,397 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new position in shares of Myriad Genetics in the second quarter valued at $57,000. 99.02% of the stock is currently owned by institutional investors.

Myriad Genetics Stock Performance

Shares of NASDAQ MYGN opened at $6.33 on Friday. Myriad Genetics, Inc. has a fifty-two week low of $3.76 and a fifty-two week high of $19.60. The stock has a market cap of $588.97 million, a PE ratio of -1.48 and a beta of 1.99. The stock has a fifty day moving average of $7.51 and a 200-day moving average of $6.04.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, January 16th. The company reported ($0.19) EPS for the quarter. The company had revenue of $156.40 million during the quarter. Myriad Genetics had a negative return on equity of 5.17% and a negative net margin of 47.45%. Myriad Genetics has set its FY23 guidance at ($0.33)-($0.28) EPS. On average, sell-side analysts predict that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MYGN shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Myriad Genetics in a research report on Wednesday. UBS Group increased their price objective on Myriad Genetics from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday. TD Cowen lifted their target price on Myriad Genetics from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Tuesday. Wells Fargo & Company raised their price objective on Myriad Genetics from $6.00 to $6.50 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Cowen reiterated a “hold” rating on shares of Myriad Genetics in a research note on Tuesday. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.29.

Myriad Genetics 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.