Connor Clark & Lunn Investment Management Ltd. Has $3.15 Million Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 426.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,036 shares of the company’s stock after purchasing an additional 93,171 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Myriad Genetics were worth $3,151,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System lifted its stake in shares of Myriad Genetics by 8.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 25,107 shares of the company’s stock valued at $583,000 after acquiring an additional 2,050 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Myriad Genetics by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,035,708 shares of the company’s stock valued at $213,961,000 after buying an additional 81,475 shares during the period. American International Group Inc. boosted its position in Myriad Genetics by 6.8% during the 1st quarter. American International Group Inc. now owns 47,331 shares of the company’s stock worth $1,009,000 after buying an additional 3,011 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in Myriad Genetics by 7.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 103,498 shares of the company’s stock worth $2,204,000 after acquiring an additional 7,123 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in Myriad Genetics by 74.6% in the 1st quarter. Lazard Asset Management LLC now owns 21,143 shares of the company’s stock valued at $449,000 after acquiring an additional 9,036 shares during the period. Institutional investors own 99.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MYGN shares. Piper Sandler lowered their price objective on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. TD Cowen boosted 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. Morgan Stanley decreased their price target 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. JPMorgan Chase & Co. boosted their price objective on Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company initiated coverage on Myriad Genetics in a research note on Tuesday, August 27th. They set an “overweight” rating and a $35.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.36.

Myriad Genetics Trading Up 2.4 %

Shares of Myriad Genetics stock opened at $15.49 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. Myriad Genetics, Inc. has a 52 week low of $14.72 and a 52 week high of $29.30. The stock has a 50 day moving average price of $22.26 and a two-hundred day moving average price of $24.49. The stock has a market capitalization of $1.41 billion, a PE ratio of -11.92 and a beta of 1.93.

Insider Activity at Myriad Genetics

In other Myriad Genetics 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 value of $343,950.00. Following the completion of the sale, the chief executive officer now owns 962,378 shares in the company, valued at approximately $22,067,327.54. This trade represents a 1.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Colleen F. Reitan sold 46,012 shares of Myriad Genetics stock in a transaction 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 sale, the director now 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. In the last 90 days, insiders sold 71,012 shares of company stock valued at $1,900,485. 2.10% of the stock is owned by company insiders.

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.