Myriad Genetics (NASDAQ:MYGN) Announces Quarterly Earnings Results

Myriad Genetics (NASDAQ:MYGN) announced its quarterly earnings results on Monday. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.12), Zacks reports. Myriad Genetics had a negative return on equity of 5.17% and a negative net margin of 47.45%. Myriad Genetics updated its FY 2025 guidance to -0.020-0.02 EPS.

Myriad Genetics Trading Up 1.7%

NASDAQ:MYGN traded up $0.14 during mid-day trading on Monday, hitting $8.18. 1,866,263 shares of the company’s stock traded hands, compared to its average volume of 1,626,857. The firm has a 50 day moving average of $7.44 and a two-hundred day moving average of $6.04. Myriad Genetics has a 12 month low of $3.76 and a 12 month high of $19.60. The firm has a market capitalization of $761.11 million, a price-to-earnings ratio of -1.91 and a beta of 1.97.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Myriad Genetics in a report on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.45.

Institutional Investors Weigh In On Myriad Genetics

Several hedge funds have recently modified their holdings of MYGN. EverSource Wealth Advisors LLC grew its stake in shares of Myriad Genetics by 2,333.3% in the second quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company’s stock worth $25,000 after acquiring an additional 4,480 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Myriad Genetics during the 2nd quarter valued at $37,000. American Century Companies Inc. bought a new stake in Myriad Genetics in the 2nd quarter valued at $55,000. Tower Research Capital LLC TRC grew its position in Myriad Genetics by 283.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,582 shares of the company’s stock worth $56,000 after purchasing an additional 7,819 shares during the last quarter. Finally, Baird Financial Group Inc. acquired a new stake in Myriad Genetics in the 1st quarter worth $105,000. 99.02% of the stock is owned by institutional investors.

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.