Edgestream Partners L.P. Makes New Investment in Myriad Genetics, Inc. (NASDAQ:MYGN)

Edgestream Partners L.P. bought a new stake in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 55,842 shares of the company's stock, valued at approximately $1,530,000. Edgestream Partners L.P. owned about 0.06% of Myriad Genetics as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Verition Fund Management LLC grew its stake in shares of Myriad Genetics by 946.9% during the third quarter. Verition Fund Management LLC now owns 88,903 shares of the company's stock valued at $2,435,000 after buying an additional 80,411 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Myriad Genetics by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 198,256 shares of the company's stock worth $5,430,000 after buying an additional 18,446 shares during the period. Quantbot Technologies LP purchased a new stake in Myriad Genetics in the third quarter worth about $153,000. FMR LLC lifted its holdings in Myriad Genetics by 23.6% in the third quarter. FMR LLC now owns 69,822 shares of the company's stock worth $1,912,000 after buying an additional 13,319 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in Myriad Genetics by 153.7% in the third quarter. Loomis Sayles & Co. L P now owns 2,189,601 shares of the company's stock worth $59,973,000 after buying an additional 1,326,497 shares during the period. Institutional investors own 99.02% of the company's stock.

Myriad Genetics Stock Performance

NASDAQ:MYGN traded up $0.37 during trading hours on Wednesday, reaching $16.60. The company had a trading volume of 439,304 shares, compared to its average volume of 742,906. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. Myriad Genetics, Inc. has a 52 week low of $14.72 and a 52 week high of $29.30. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -12.48 and a beta of 1.87. The firm's 50 day moving average price is $20.64 and its 200-day moving average price is $24.05.

Insiders Place Their Bets

In other news, CEO Paul J. Diaz sold 15,000 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer now owns 962,378 shares of the company's stock, valued at $22,067,327.54. The trade was a 1.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Heinrich Dreismann sold 10,000 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $27.05, for a total transaction of $270,500.00. Following the sale, the director now directly owns 121,648 shares of the company's stock, valued at approximately $3,290,578.40. The trade was a 7.60 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MYGN. Piper Sandler lowered their price objective on shares of Myriad Genetics from $30.00 to $24.00 and set a "neutral" rating for the company in a report on Monday, November 11th. StockNews.com lowered shares of Myriad Genetics from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. Morgan Stanley lowered their target price on shares of Myriad Genetics from $32.00 to $21.00 and set an "equal weight" rating for the company in a report on Monday, November 18th. Wells Fargo & Company began coverage on shares of Myriad Genetics in a report on Tuesday, August 27th. They set an "overweight" rating and a $35.00 target price for the company. Finally, TD Cowen lifted their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a "hold" rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Myriad Genetics currently has an average rating of "Hold" and a consensus target price of $27.36.

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.