Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 426.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,036 shares of the company's stock after purchasing an additional 93,171 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.13% of Myriad Genetics worth $3,151,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MYGN. State of New Jersey Common Pension Fund D bought a new stake in Myriad Genetics during the 3rd quarter valued at $1,965,000. Legato Capital Management LLC bought a new stake in shares of Myriad Genetics during the 2nd quarter valued at $1,123,000. Assenagon Asset Management S.A. lifted its holdings in Myriad Genetics by 26.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 250,524 shares of the company's stock worth $6,128,000 after purchasing an additional 52,813 shares in the last quarter. Maven Securities LTD bought a new position in Myriad Genetics in the 2nd quarter worth about $1,223,000. Finally, Tidal Investments LLC purchased a new position in Myriad Genetics during the 1st quarter valued at about $606,000. Institutional investors own 99.02% of the company's stock.

Myriad Genetics Price Performance

Shares of NASDAQ MYGN traded up $0.22 during trading hours on Monday, reaching $15.71. 1,009,010 shares of the stock traded hands, compared to its average volume of 744,274. The company has a market capitalization of $1.43 billion, a P/E ratio of -12.08 and a beta of 1.93. The company's 50-day simple moving average is $22.02 and its two-hundred day simple moving average is $24.42. 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 52-week low of $14.72 and a 52-week high of $29.30.

Insider Buying and Selling at Myriad Genetics

In related news, Director Heinrich Dreismann sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $27.05, for a total transaction of $270,500.00. Following the transaction, the director now directly owns 121,648 shares in the company, valued at $3,290,578.40. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Colleen F. Reitan sold 46,012 shares of Myriad Genetics stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 42,533 shares in the company, valued at $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. Insiders have sold 71,012 shares of company stock worth $1,900,485 over the last ninety days. Insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MYGN shares. JPMorgan Chase & Co. increased their price target on shares of Myriad Genetics from $17.00 to $20.00 and gave the stock an "underweight" rating in a report on Wednesday, August 7th. Morgan Stanley cut their price target 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 started coverage on shares of Myriad Genetics in a report on Tuesday, August 27th. They issued an "overweight" rating and a $35.00 price target on the stock. StockNews.com lowered Myriad Genetics from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. Finally, Scotiabank boosted their target price on Myriad Genetics from $29.00 to $34.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $27.36.

Myriad Genetics Company 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.