EntryPoint Capital LLC Lowers Holdings in Myriad Genetics, Inc. $MYGN

EntryPoint Capital LLC cut its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN) by 39.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,154 shares of the company’s stock after selling 19,732 shares during the period. EntryPoint Capital LLC’s holdings in Myriad Genetics were worth $267,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in MYGN. Nuveen LLC purchased a new position in Myriad Genetics in the 1st quarter worth approximately $10,437,000. D. E. Shaw & Co. Inc. lifted its holdings in Myriad Genetics by 58.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,819,814 shares of the company’s stock worth $24,950,000 after purchasing an additional 668,429 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Myriad Genetics by 67.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 921,911 shares of the company’s stock worth $8,177,000 after purchasing an additional 372,455 shares in the last quarter. Knott David M Jr purchased a new position in Myriad Genetics in the 1st quarter worth approximately $1,419,000. Finally, Invesco Ltd. lifted its holdings in Myriad Genetics by 19.1% in the 1st quarter. Invesco Ltd. now owns 916,520 shares of the company’s stock worth $8,130,000 after purchasing an additional 147,236 shares in the last quarter. 99.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on MYGN shares. The Goldman Sachs Group lowered their price target on Myriad Genetics from $14.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Wolfe Research cut Myriad Genetics from an “outperform” rating to a “peer perform” rating in a report on Thursday, May 8th. Scotiabank cut Myriad Genetics from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $20.00 to $6.00 in a report on Wednesday, May 21st. Wells Fargo & Company cut Myriad Genetics from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $22.00 to $6.00 in a report on Wednesday, May 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $10.00 price objective (down from $19.00) on shares of Myriad Genetics in a report on Wednesday, May 7th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.45.

Myriad Genetics Price Performance

Shares of MYGN opened at $6.02 on Friday. The stock has a market capitalization of $560.10 million, a price-to-earnings ratio of -1.41 and a beta of 1.89. Myriad Genetics, Inc. has a 1 year low of $3.76 and a 1 year high of $29.30. The business’s 50 day simple moving average is $5.15 and its 200-day simple moving average is $7.21.

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.