SG Americas Securities LLC Reduces Stake in Myriad Genetics,
August 12, 2023
☀️Trending News
SG Americas Securities LLC recently reduced their position in Myriad Genetics ($NASDAQ:MYGN), Inc., a biopharmaceutical company providing molecular diagnostic services, as reported by Defense World. Myriad Genetics, Inc. is a leader in genetic testing and personalized medicine, with a goal of providing personalized healthcare through molecular diagnostics. The company specializes in the development of innovative diagnostic tests that assess an individual’s risk for developing disease, guide drug selection and treatment, and assess a patient’s risk of disease progression and disease recurrence.
The company’s portfolio of products includes molecular diagnostic tests for hereditary cancer, cardiovascular diseases, neurological disorders, and other rare diseases. Myriad Genetics, Inc. has also developed several personalized medicine programs to help physicians make informed decisions about patient care.
Share Price
On Monday, MYRIAD GENETICS saw a significant decrease in its stock price when SG Americas Securities LLC reduced its stake in the company. At the start of the day, the stock opened at $19.2, but quickly plummeted to close at $17.5, a 9.5% drop from the prior closing price of $19.3. This decrease in stock price serves as a reminder of the uncertain market conditions that the biotechnology industry is currently facing. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Myriad Genetics. More…
| Total Revenues | Net Income | Net Margin |
| 698.9 | -248.2 | -34.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Myriad Genetics. More…
| Operations | Investing | Financing |
| -43.6 | 22.2 | 27.8 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Myriad Genetics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.19k | 452 | 9.01 |
Key Ratios Snapshot
Some of the financial key ratios for Myriad Genetics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -4.9% | -62.6% | -37.5% |
| FCF Margin | ROE | ROA |
| -16.9% | -20.9% | -13.8% |
Analysis
When analyzing MYRIAD GENETICS‘ financials, GoodWhale has some key points to keep in mind. First, our Star Chart reveals that MYRIAD GENETICS is classified as an ‘elephant’, meaning that it is asset-rich after liabilities are deducted. This means that investors who are looking for a stable, long-term investment may be interested in MYRIAD GENETICS. Additionally, MYRIAD GENETICS has an intermediate health score of 6/10 in terms of its cashflows and debt, indicating that it may be able to safely ride out any crisis without the risk of bankruptcy. In terms of performance, MYRIAD GENETICS is strong in profitability, medium in asset and weak in dividend and growth. Considering these points, MYRIAD GENETICS may be an attractive investment option for those seeking a stable and secure long-term investment. More…
Peers
Myriad Genetics Inc is facing intense competition from BCAL Diagnostics Ltd, Inoviq Ltd, and Exagen Inc in the field of molecular diagnostics. Each of these companies offers innovative products and services, and is striving to gain a competitive edge in the market. As a result, Myriad Genetics Inc is under constant pressure to develop and deliver better products to stay ahead of the competition.
– BCAL Diagnostics Ltd ($ASX:BDX)
Inoviq Ltd is a leading provider of medical and healthcare products. Its market cap of 59.81M as of 2022 indicates that the company is growing steadily and is well-positioned in the market. Its Return on Equity (ROE) of -13.77% suggests that the company is making investments that have yet to yield a positive return. The company’s goal is to continue to develop innovative products and services that will improve patient outcomes and enhance the quality of life. Inoviq Ltd is a leader in the medical and healthcare industry and its market cap and ROE are both indicators of its success.
– Inoviq Ltd ($ASX:IIQ)
Exagen Inc is a biotechnology company that focuses on developing and commercializing diagnostic and therapeutic products for autoimmune diseases. The company’s market cap as of 2022 is 39.49M, which means that the value of the company is determined by the current market price of its shares. The Return on Equity (ROE) is -38.89%, indicating that the company is not generating a return on investments it made in its business operations. This suggests that the company may need to reevaluate its strategies in order to become more profitable and increase shareholder value.
Summary
Myriad Genetics, Inc. (MYGN) is a biopharmaceutical company focused on precision medicine that has been in the news recently due to a position lessening by SG Americas Securities LLC. Given the decline in share price investors should consider the company’s current financial position and risk profile. Furthermore, their debt structure consists of short term obligations, which are more manageable than long-term debt.
In conclusion, while MYGN’s financials display some positive attributes it could be susceptible to further declines based on its lofty valuation. Investors should be aware of the risks involved and proceed with caution when considering an investment in the company.
Related Posts
Recent Posts
