Ieq Capital LLC Takes Position in Myriad Genetics, Inc. $MYGN

Ieq Capital LLC purchased a new position in Myriad Genetics, Inc. (NASDAQ:MYGN) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 254,869 shares of the company’s stock, valued at approximately $1,455,000. Ieq Capital LLC owned about 0.27% of Myriad Genetics as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Allworth Financial LP bought a new position in Myriad Genetics during the second quarter worth about $25,000. Quarry LP increased its stake in shares of Myriad Genetics by 155.6% in the 4th quarter. Quarry LP now owns 4,365 shares of the company’s stock valued at $27,000 after acquiring an additional 2,657 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Myriad Genetics by 2,333.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company’s stock valued at $25,000 after acquiring an additional 4,480 shares during the period. Royal Bank of Canada boosted its stake in Myriad Genetics by 129.6% during the 4th quarter. Royal Bank of Canada now owns 4,993 shares of the company’s stock worth $31,000 after acquiring an additional 2,818 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Myriad Genetics during the second quarter valued at approximately $37,000. 99.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Rashmi Kumar sold 15,000 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $4.46, for a total transaction of $66,900.00. Following the completion of the transaction, the director owned 171,889 shares in the company, valued at approximately $766,624.94. This represents a 8.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.90% of the company’s stock.

Myriad Genetics Stock Down 2.2%

Shares of Myriad Genetics stock opened at $3.12 on Thursday. The business’s 50 day simple moving average is $4.68 and its 200 day simple moving average is $4.59. Myriad Genetics, Inc. has a 52-week low of $2.74 and a 52-week high of $8.59. The firm has a market cap of $298.43 million, a PE ratio of -2.62 and a beta of 1.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.21.

Myriad Genetics (NASDAQ:MYGN) last released its earnings results on Thursday, July 30th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.19). The firm had revenue of $190.70 million during the quarter, compared to the consensus estimate of $206.03 million. Myriad Genetics had a negative net margin of 13.96% and a negative return on equity of 16.09%. The company’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. On average, analysts predict that Myriad Genetics, Inc. will post -0.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Weiss Ratings lowered Myriad Genetics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 30th. TD Cowen reduced their price target on shares of Myriad Genetics from $6.00 to $4.00 and set a “hold” rating for the company in a report on Friday, July 31st. Zacks Research downgraded shares of Myriad Genetics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. Wells Fargo & Company dropped their price objective on shares of Myriad Genetics from $5.50 to $3.00 and set an “equal weight” rating on the stock in a report on Monday, August 3rd. Finally, Wall Street Zen cut shares of Myriad Genetics from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $4.90.

Myriad Genetics Company Profile

Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual’s risk for various hereditary conditions and to guide personalized treatment decisions. The company’s core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women’s health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.