State Street Corp Boosts Stock Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

State Street Corp increased its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 8.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,703,442 shares of the company’s stock after buying an additional 359,685 shares during the period. State Street Corp owned about 5.17% of Myriad Genetics worth $128,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd purchased a new position in Myriad Genetics during the third quarter valued at $32,000. Innealta Capital LLC purchased a new position in Myriad Genetics in the 2nd quarter valued at about $36,000. GAMMA Investing LLC boosted its holdings in Myriad Genetics by 34.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock worth $44,000 after buying an additional 412 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Myriad Genetics during the 2nd quarter worth approximately $60,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Myriad Genetics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock valued at $87,000 after acquiring an additional 583 shares during the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Price Performance

MYGN stock opened at $14.43 on Friday. Myriad Genetics, Inc. has a 52-week low of $13.92 and a 52-week high of $29.30. The business has a fifty day moving average of $18.82 and a two-hundred day moving average of $23.57. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -11.10 and a beta of 1.87. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05.

Insider Buying and Selling

In related news, CEO Paul J. Diaz sold 15,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 962,378 shares of the company’s stock, valued at approximately $22,067,327.54. This trade represents a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

MYGN has been the subject of several research reports. StockNews.com cut Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Bank of America reduced their target price on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating for the company in a research report on Friday. Leerink Partners lowered shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $30.00 to $21.00 in a research report on Monday, December 9th. Piper Sandler cut their price objective on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Finally, UBS Group initiated coverage on Myriad Genetics in a report on Tuesday, December 10th. They set a “neutral” rating and a $18.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $24.27.

About Myriad Genetics

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.