AMH Equity Ltd Buys New Shares in Myriad Genetics, Inc. $MYGN

AMH Equity Ltd bought a new stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 300,000 shares of the company’s stock, valued at approximately $1,593,000. Myriad Genetics accounts for about 2.1% of AMH Equity Ltd’s holdings, making the stock its 19th biggest position.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Myriad Genetics by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 10,667,755 shares of the company’s stock valued at $94,623,000 after purchasing an additional 76,712 shares during the last quarter. Nuveen LLC acquired a new position in Myriad Genetics during the 1st quarter valued at $10,437,000. Charles Schwab Investment Management Inc. raised its stake in Myriad Genetics by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,165,395 shares of the company’s stock valued at $10,337,000 after purchasing an additional 39,860 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Myriad Genetics by 67.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 921,911 shares of the company’s stock valued at $8,177,000 after purchasing an additional 372,455 shares during the period. Finally, Invesco Ltd. increased its position in shares of Myriad Genetics by 19.1% during the first quarter. Invesco Ltd. now owns 916,520 shares of the company’s stock valued at $8,130,000 after purchasing an additional 147,236 shares during the period. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Myriad Genetics Stock Up 0.5%

Shares of Myriad Genetics stock opened at $7.95 on Friday. The stock has a market capitalization of $739.67 million, a P/E ratio of -1.86 and a beta of 1.97. The company has a 50-day simple moving average of $7.39 and a 200 day simple moving average of $6.07. Myriad Genetics, Inc. has a 12-month low of $3.76 and a 12-month high of $22.81.

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. The firm had revenue of $156.40 million for 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, equities analysts anticipate that Myriad Genetics, Inc. will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Myriad Genetics in a research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.45.

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.