Franklin Resources Inc. Sells 1,457 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Franklin Resources Inc. cut its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGNFree Report) by 3.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 41,114 shares of the company’s stock after selling 1,457 shares during the period. Franklin Resources Inc.’s holdings in Myriad Genetics were worth $787,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MYGN. Blue Trust Inc. increased its position in shares of Myriad Genetics by 21.4% in the fourth quarter. Blue Trust Inc. now owns 6,729 shares of the company’s stock worth $129,000 after purchasing an additional 1,186 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in Myriad Genetics by 388.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,253 shares of the company’s stock valued at $196,000 after acquiring an additional 8,152 shares during the last quarter. Clarus Wealth Advisors bought a new position in Myriad Genetics during the fourth quarter valued at approximately $204,000. Mutual of America Capital Management LLC grew its position in Myriad Genetics by 8.1% during the fourth quarter. Mutual of America Capital Management LLC now owns 15,519 shares of the company’s stock valued at $297,000 after acquiring an additional 1,167 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position in Myriad Genetics by 19.3% during the fourth quarter. Handelsbanken Fonder AB now owns 17,288 shares of the company’s stock valued at $331,000 after acquiring an additional 2,800 shares during the last quarter. 99.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Daniel K. Spiegelman sold 3,788 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $22.04, for a total value of $83,487.52. Following the transaction, the director now directly owns 36,705 shares of the company’s stock, valued at approximately $808,978.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Lee Nisley Newcomer sold 6,200 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $25.30, for a total transaction of $156,860.00. Following the transaction, the director now owns 66,650 shares of the company’s stock, valued at approximately $1,686,245. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel K. Spiegelman sold 3,788 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $22.04, for a total value of $83,487.52. Following the completion of the transaction, the director now directly owns 36,705 shares in the company, valued at approximately $808,978.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 142,832 shares of company stock valued at $3,574,217. Corporate insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

MYGN has been the topic of a number of recent research reports. Piper Sandler increased their price target on shares of Myriad Genetics from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. SVB Leerink raised Myriad Genetics from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $25.00 to $35.00 in a research note on Wednesday, May 8th. Leerink Partnrs raised Myriad Genetics from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 8th. Finally, Jefferies Financial Group reissued an “underperform” rating and set a $20.00 price objective (down previously from $25.00) on shares of Myriad Genetics in a research note on Monday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Myriad Genetics presently has a consensus rating of “Hold” and an average price target of $24.88.

Get Our Latest Report on Myriad Genetics

Myriad Genetics Trading Down 1.8 %

Shares of NASDAQ:MYGN opened at $22.30 on Friday. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of -7.91 and a beta of 1.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.99. The stock’s 50-day simple moving average is $21.43 and its two-hundred day simple moving average is $20.99. Myriad Genetics, Inc. has a 52-week low of $13.82 and a 52-week high of $25.95.

Myriad Genetics (NASDAQ:MYGNGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. Myriad Genetics had a negative return on equity of 6.77% and a negative net margin of 30.30%. The firm had revenue of $202.20 million for the quarter, compared to analysts’ expectations of $193.51 million. During the same period in the previous year, the firm earned ($0.28) EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts expect that Myriad Genetics, Inc. will post -0.35 EPS for the current year.

About Myriad Genetics

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Myriad Genetics (NASDAQ:MYGN)

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