Barclays PLC Raises Stake in Myriad Genetics, Inc. (NASDAQ:MYGN)

Barclays PLC raised its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 136.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 190,243 shares of the company’s stock after buying an additional 109,931 shares during the quarter. Barclays PLC owned about 0.21% of Myriad Genetics worth $5,210,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MYGN. Louisiana State Employees Retirement System grew its stake in Myriad Genetics by 3.9% during the second quarter. Louisiana State Employees Retirement System now owns 45,500 shares of the company’s stock valued at $1,113,000 after acquiring an additional 1,700 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Myriad Genetics by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 719,291 shares of the company’s stock valued at $17,594,000 after purchasing an additional 28,115 shares in the last quarter. Legato Capital Management LLC bought a new position in shares of Myriad Genetics in the second quarter worth $1,123,000. Innealta Capital LLC bought a new position in shares of Myriad Genetics in the second quarter worth $36,000. Finally, Peregrine Capital Management LLC raised its position in shares of Myriad Genetics by 1.3% in the second quarter. Peregrine Capital Management LLC now owns 305,217 shares of the company’s stock worth $7,466,000 after buying an additional 3,960 shares in the last quarter. 99.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MYGN. UBS Group initiated coverage on Myriad Genetics in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $18.00 target price on the stock. Piper Sandler decreased their price objective on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. StockNews.com lowered shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. 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 research note on Monday, November 18th. Finally, Leerink Partnrs downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Myriad Genetics currently has an average rating of “Hold” and an average target price of $24.27.

Myriad Genetics Stock Up 1.4 %

MYGN opened at $13.36 on Friday. Myriad Genetics, Inc. has a 12 month low of $12.87 and a 12 month high of $29.30. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The business’s 50-day moving average price is $17.92 and its 200-day moving average price is $23.31. The company has a market cap of $1.22 billion, a P/E ratio of -10.28 and a beta of 1.87.

Insider Transactions at Myriad Genetics

In other Myriad Genetics news, CEO Paul J. Diaz sold 15,000 shares of the 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. This represents a 1.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

Myriad Genetics 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.