Connor Clark & Lunn Investment Management Ltd. Increases Stock Holdings in Myriad Genetics, Inc. (NASDAQ:MYGN)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 377.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 549,456 shares of the company’s stock after purchasing an additional 434,420 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.60% of Myriad Genetics worth $7,533,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in Myriad Genetics during the third quarter valued at $32,000. KBC Group NV boosted its stake in shares of Myriad Genetics by 132.8% during the 4th quarter. KBC Group NV now owns 5,845 shares of the company’s stock worth $80,000 after purchasing an additional 3,334 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its holdings in Myriad Genetics by 43.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock valued at $132,000 after purchasing an additional 1,471 shares during the last quarter. Meeder Asset Management Inc. raised its position in Myriad Genetics by 588.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,922 shares of the company’s stock worth $135,000 after purchasing an additional 4,207 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Myriad Genetics in the third quarter worth about $153,000. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Myriad Genetics Trading Up 3.8 %

Shares of NASDAQ MYGN opened at $10.07 on Friday. Myriad Genetics, Inc. has a 1-year low of $9.36 and a 1-year high of $29.30. The business has a fifty day moving average price of $12.59 and a 200 day moving average price of $17.74. The stock has a market capitalization of $919.48 million, a P/E ratio of -7.75 and a beta of 1.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The firm had revenue of $210.60 million for the quarter, compared to analysts’ expectations of $210.35 million. During the same period in the previous year, the company posted ($0.12) earnings per share. Equities research analysts expect that Myriad Genetics, Inc. will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

MYGN has been the topic of several recent analyst reports. Leerink Partners downgraded Myriad Genetics from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $30.00 to $21.00 in a report on Monday, December 9th. Leerink Partnrs lowered Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Stephens reissued an “equal weight” rating and set a $20.00 target price on shares of Myriad Genetics in a research note on Thursday, January 16th. 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 on the stock. Finally, The Goldman Sachs Group lowered their price objective on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.89.

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.