State Street Corp Buys 359,685 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

State Street Corp increased its stake in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 8.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,703,442 shares of the company's stock after acquiring an additional 359,685 shares during the period. State Street Corp owned approximately 5.17% of Myriad Genetics worth $128,827,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D purchased a new position in Myriad Genetics in the 3rd quarter worth about $1,965,000. Legato Capital Management LLC acquired a new position in Myriad Genetics during the 2nd quarter worth $1,123,000. Assenagon Asset Management S.A. boosted its holdings in Myriad Genetics by 26.7% during the second quarter. Assenagon Asset Management S.A. now owns 250,524 shares of the company's stock valued at $6,128,000 after acquiring an additional 52,813 shares during the period. Maven Securities LTD bought a new position in shares of Myriad Genetics in the second quarter worth about $1,223,000. Finally, Simplify Asset Management Inc. acquired a new position in shares of Myriad Genetics during the 3rd quarter worth about $4,756,000. Institutional investors own 99.02% of the company's stock.

Myriad Genetics Trading Down 0.5 %

Shares of MYGN stock traded down $0.07 during trading hours on Friday, reaching $14.43. The company had a trading volume of 1,148,550 shares, compared to its average volume of 757,894. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. Myriad Genetics, Inc. has a 1-year low of $13.92 and a 1-year high of $29.30. The company has a 50 day moving average of $18.82 and a 200 day moving average of $23.57. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -11.10 and a beta of 1.87.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MYGN shares. StockNews.com downgraded Myriad Genetics from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Bank of America cut their price target on shares of Myriad Genetics from $15.00 to $13.00 and set an "underperform" rating for the company in a research note on Friday. Morgan Stanley dropped their target price on Myriad Genetics from $32.00 to $21.00 and set an "equal weight" rating for the company in a report on Monday, November 18th. UBS Group started coverage on Myriad Genetics in a research note on Tuesday, December 10th. They set a "neutral" rating and a $18.00 price objective for the company. Finally, Piper Sandler reduced their price objective on Myriad Genetics from $30.00 to $24.00 and set a "neutral" rating on the stock in a research note on Monday, November 11th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Myriad Genetics has a consensus rating of "Hold" and a consensus price target of $24.27.

Insider Activity

In other news, CEO Paul J. Diaz sold 15,000 shares of the firm's stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $22.93, for a total transaction of $343,950.00. Following the sale, the chief executive officer now owns 962,378 shares of the company's stock, valued at $22,067,327.54. This trade represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by company insiders.

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.