EntryPoint Capital LLC Makes New Investment in Myriad Genetics, Inc. (NASDAQ:MYGN)

EntryPoint Capital LLC bought a new position in Myriad Genetics, Inc. (NASDAQ:MYGN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 49,886 shares of the company’s stock, valued at approximately $684,000.

Other large investors have also modified their holdings of the company. Quest Partners LLC boosted its holdings in Myriad Genetics by 50.8% in the 3rd quarter. Quest Partners LLC now owns 8,001 shares of the company’s stock worth $219,000 after acquiring an additional 2,697 shares during the period. Segall Bryant & Hamill LLC purchased a new position in shares of Myriad Genetics in the third quarter valued at $832,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Myriad Genetics by 426.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 115,036 shares of the company’s stock valued at $3,151,000 after purchasing an additional 93,171 shares in the last quarter. Intech Investment Management LLC grew its holdings in Myriad Genetics by 32.0% during the 3rd quarter. Intech Investment Management LLC now owns 29,055 shares of the company’s stock valued at $796,000 after purchasing an additional 7,043 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Myriad Genetics by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,302 shares of the company’s stock worth $29,672,000 after buying an additional 41,374 shares in the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Stock Down 0.3 %

NASDAQ:MYGN opened at $9.98 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average of $12.05 and a 200-day moving average of $16.92. The firm has a market capitalization of $911.26 million, a PE ratio of -7.68 and a beta of 1.79. Myriad Genetics, Inc. has a 52 week low of $9.36 and a 52 week high of $29.30.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The company had revenue of $210.60 million during the quarter, compared to analyst estimates of $210.35 million. During the same period in the prior year, the business earned ($0.12) earnings per share. Analysts predict that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Analysts Set New Price Targets

MYGN has been the subject of several recent analyst reports. Piper Sandler upgraded Myriad Genetics from a “neutral” rating to an “overweight” rating and raised their target price for the company from $11.50 to $12.50 in a research note on Wednesday, March 12th. Leerink Partnrs downgraded Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. UBS Group cut their target price on Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Craig Hallum assumed coverage on shares of Myriad Genetics in a research note on Wednesday, February 12th. They issued a “buy” rating and a $29.00 price target for the company. Finally, Bank of America cut their price target on shares of Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating on the stock in a report on Monday, March 3rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Myriad Genetics presently has an average rating of “Hold” and a consensus target price of $21.89.

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.