Myriad Genetics, Inc. $MYGN Stock Holdings Lifted by XTX Topco Ltd

XTX Topco Ltd lifted its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 1,240.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 284,357 shares of the company’s stock after acquiring an additional 263,147 shares during the quarter. XTX Topco Ltd owned approximately 0.31% of Myriad Genetics worth $1,510,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Inspire Investing LLC lifted its holdings in shares of Myriad Genetics by 93.3% in the second quarter. Inspire Investing LLC now owns 84,520 shares of the company’s stock valued at $449,000 after purchasing an additional 40,793 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Myriad Genetics during the first quarter valued at $531,000. Graham Capital Management L.P. acquired a new position in Myriad Genetics during the first quarter valued at $633,000. Nordea Investment Management AB lifted its stake in Myriad Genetics by 19.5% in the 2nd quarter. Nordea Investment Management AB now owns 402,910 shares of the company’s stock worth $2,152,000 after acquiring an additional 65,781 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in Myriad Genetics during the 2nd quarter worth about $869,000. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Stock Performance

Shares of NASDAQ MYGN opened at $7.42 on Friday. The business’s 50-day simple moving average is $7.47 and its 200-day simple moving average is $6.09. Myriad Genetics, Inc. has a 52 week low of $3.76 and a 52 week high of $16.83. The firm has a market cap of $691.18 million, a price-to-earnings ratio of -1.73 and a beta of 1.99.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, January 16th. The company reported ($0.19) earnings per share (EPS) for the quarter. Myriad Genetics had a negative return on equity of 5.17% and a negative net margin of 47.45%.The company had revenue of $156.40 million for the quarter. Myriad Genetics has set its FY23 guidance at ($0.33)-($0.28) EPS. As a group, equities research analysts forecast that Myriad Genetics, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analyst Weigh In

MYGN has been the topic of a number of research reports. Piper Sandler reduced their price target on shares of Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. TD Cowen increased their target price on shares of Myriad Genetics from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Wells Fargo & Company boosted their price target on shares of Myriad Genetics from $6.00 to $6.50 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. UBS Group upped their price target on shares of Myriad Genetics from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Finally, Cowen reissued a “hold” rating on shares of Myriad Genetics in a research report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.45.

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.