Simplify Asset Management Inc. Buys Shares of 173,626 Myriad Genetics, Inc. (NASDAQ:MYGN)

Simplify Asset Management Inc. bought a new position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 173,626 shares of the company's stock, valued at approximately $4,756,000. Simplify Asset Management Inc. owned about 0.19% of Myriad Genetics at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hexagon Capital Partners LLC grew its stake 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 acquiring an additional 491 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Myriad Genetics in the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC increased its position in shares of Myriad Genetics by 34.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company's stock valued at $44,000 after purchasing an additional 412 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Myriad Genetics in the 2nd quarter valued at approximately $60,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Myriad Genetics in the 2nd quarter valued at approximately $82,000. Hedge funds and other institutional investors own 99.02% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on MYGN shares. JPMorgan Chase & Co. increased their target price on shares of Myriad Genetics from $17.00 to $20.00 and gave the company an "underweight" rating in a research report on Wednesday, August 7th. Morgan Stanley began coverage on shares of Myriad Genetics in a research report on Thursday, September 19th. They set an "equal weight" rating and a $32.00 price objective on the stock. TD Cowen raised their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a "hold" rating in a research report on Wednesday, August 7th. Scotiabank raised their price objective on shares of Myriad Genetics from $29.00 to $34.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company began coverage on shares of Myriad Genetics in a research report on Tuesday, August 27th. They set an "overweight" rating and a $35.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Myriad Genetics presently has an average rating of "Hold" and an average target price of $28.36.

Myriad Genetics Price Performance

Shares of NASDAQ MYGN traded down $0.43 during midday trading on Friday, hitting $15.25. The company had a trading volume of 876,227 shares, compared to its average volume of 739,905. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. Myriad Genetics, Inc. has a twelve month low of $15.18 and a twelve month high of $29.30. The business has a 50-day simple moving average of $23.43 and a two-hundred day simple moving average of $24.60. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -11.73 and a beta of 1.93.

Insider Buying and Selling at Myriad Genetics

In other Myriad Genetics news, CEO Paul J. Diaz sold 15,000 shares of Myriad Genetics stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $22.93, for a total transaction of $343,950.00. Following the transaction, the chief executive officer now directly owns 962,378 shares of the company's stock, valued at $22,067,327.54. The trade was a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Colleen F. Reitan sold 46,012 shares of Myriad Genetics stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the transaction, the director now directly owns 42,533 shares in the company, valued at approximately $1,188,797.35. This trade represents a 51.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 71,012 shares of company stock worth $1,900,485. 2.10% of the stock is owned by corporate insiders.

About Myriad Genetics

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.