Point72 Asset Management L.P. Grows Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Point72 Asset Management L.P. raised its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 26.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,063,711 shares of the company's stock after purchasing an additional 224,255 shares during the quarter. Point72 Asset Management L.P. owned approximately 1.17% of Myriad Genetics worth $29,135,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MYGN. Price T Rowe Associates Inc. MD lifted its stake in shares of Myriad Genetics by 13.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 53,568 shares of the company's stock valued at $1,143,000 after buying an additional 6,337 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Myriad Genetics by 3.0% in the first quarter. California State Teachers Retirement System now owns 88,787 shares of the company's stock worth $1,893,000 after acquiring an additional 2,564 shares during the period. Tidal Investments LLC purchased a new position in shares of Myriad Genetics in the first quarter valued at $606,000. DekaBank Deutsche Girozentrale raised its stake in shares of Myriad Genetics by 9.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 35,272 shares of the company's stock valued at $751,000 after purchasing an additional 2,980 shares during the period. Finally, Hexagon Capital Partners LLC lifted 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 worth $28,000 after purchasing an additional 491 shares in the last quarter. Institutional investors own 99.02% of the company's stock.

Insider Activity

In other news, CEO Paul J. Diaz sold 15,000 shares of the stock in a transaction dated 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 directly owns 962,378 shares in the company, valued at approximately $22,067,327.54. This represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Heinrich Dreismann sold 10,000 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $27.05, for a total value of $270,500.00. Following the transaction, the director now owns 121,648 shares in the company, valued at approximately $3,290,578.40. This represents a 7.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

MYGN has been the topic of several analyst reports. StockNews.com cut Myriad Genetics from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Piper Sandler decreased their target price on shares of Myriad Genetics from $30.00 to $24.00 and set a "neutral" rating on the stock in a report on Monday, November 11th. Wells Fargo & Company started coverage on shares of Myriad Genetics in a research note on Tuesday, August 27th. They issued an "overweight" rating and a $35.00 target price on the stock. Morgan Stanley reduced 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 research report on Monday, November 18th. Finally, Scotiabank increased their price objective 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 analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $27.36.

Myriad Genetics Trading Down 7.5 %

Shares of Myriad Genetics stock traded down $1.23 during trading on Friday, reaching $15.13. The company's stock had a trading volume of 1,588,482 shares, compared to its average volume of 745,647. 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 $14.34 and a 52-week high of $29.30. The firm's 50-day moving average is $20.26 and its two-hundred day moving average is $23.94. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -11.16 and a beta of 1.87.

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.