OmniStar Financial Group Inc. Makes New $863,000 Investment in Myriad Genetics, Inc. (NASDAQ:MYGN)

OmniStar Financial Group Inc. acquired a new stake in Myriad Genetics, Inc. (NASDAQ:MYGN) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 31,506 shares of the company’s stock, valued at approximately $863,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hexagon Capital Partners LLC increased its holdings in Myriad Genetics by 75.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock valued at $28,000 after purchasing an additional 491 shares during the period. Innealta Capital LLC purchased a new position in shares of Myriad Genetics during the second quarter valued at approximately $36,000. GAMMA Investing LLC raised its holdings in shares of Myriad Genetics by 34.1% during the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after acquiring an additional 412 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Myriad Genetics in the second quarter worth $60,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Myriad Genetics in the second quarter valued at $82,000. 99.02% of the stock is owned by institutional investors.

Insider Transactions at Myriad Genetics

In related news, Director Colleen F. Reitan sold 46,012 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total value of $1,286,035.40. Following the sale, the director now owns 42,533 shares in the company, valued at approximately $1,188,797.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total value of $1,286,035.40. Following the transaction, the director now owns 42,533 shares of the company’s stock, valued at approximately $1,188,797.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul J. Diaz sold 15,000 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $22.93, for a total value of $343,950.00. Following the sale, the chief executive officer now owns 962,378 shares of the company’s stock, valued at approximately $22,067,327.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,012 shares of company stock worth $1,900,485 over the last three months. 2.10% of the stock is currently owned by company insiders.

Myriad Genetics Stock Up 0.3 %

NASDAQ MYGN traded up $0.06 during mid-day trading on Friday, reaching $23.39. The stock had a trading volume of 106,981 shares, compared to its average volume of 713,514. The stock has a market cap of $2.12 billion, a PE ratio of -8.27 and a beta of 1.91. Myriad Genetics, Inc. has a 1 year low of $13.82 and a 1 year high of $29.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.96 and a quick ratio of 1.78. The company has a fifty day moving average price of $26.89 and a 200 day moving average price of $24.60.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The firm had revenue of $211.50 million for the quarter, compared to the consensus estimate of $206.44 million. During the same period in the prior year, the company posted ($0.21) earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. On average, research analysts expect that Myriad Genetics, Inc. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

MYGN has been the subject of several research reports. TD Cowen upped their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Piper Sandler upped their target price on Myriad Genetics from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Morgan Stanley began coverage on Myriad Genetics in a research note on Thursday, September 19th. They issued an “equal weight” rating and a $32.00 target price for the company. Scotiabank upped their price target on Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. increased their price objective on Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Myriad Genetics currently has an average rating of “Hold” and a consensus price target of $28.91.

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.