Myriad Genetics, Inc. $MYGN Position Raised by Nordea Investment Management AB

Nordea Investment Management AB raised its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 19.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 402,910 shares of the company’s stock after purchasing an additional 65,781 shares during the quarter. Nordea Investment Management AB’s holdings in Myriad Genetics were worth $2,152,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MYGN. GAMMA Investing LLC grew its holdings in Myriad Genetics by 520.8% during the first quarter. GAMMA Investing LLC now owns 4,470 shares of the company’s stock worth $40,000 after acquiring an additional 3,750 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Myriad Genetics by 6,192.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,349 shares of the company’s stock valued at $28,000 after purchasing an additional 5,264 shares in the last quarter. State of Wyoming grew its stake in shares of Myriad Genetics by 147.0% in the 1st quarter. State of Wyoming now owns 8,641 shares of the company’s stock worth $77,000 after purchasing an additional 5,143 shares during the last quarter. CWM LLC raised its holdings in shares of Myriad Genetics by 600.2% in the 1st quarter. CWM LLC now owns 9,796 shares of the company’s stock worth $87,000 after purchasing an additional 8,397 shares in the last quarter. Finally, Pallas Capital Advisors LLC acquired a new stake in Myriad Genetics during the second quarter valued at approximately $57,000. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Myriad Genetics in a research report on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.45.

Myriad Genetics Price Performance

Shares of MYGN opened at $7.86 on Thursday. Myriad Genetics, Inc. has a one year low of $3.76 and a one year high of $23.00. The company has a 50-day moving average of $7.11 and a two-hundred day moving average of $6.08. The stock has a market cap of $731.29 million, a price-to-earnings ratio of -1.84 and a beta of 1.97.

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

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.