State of New Jersey Common Pension Fund D Makes New $1.97 Million Investment in Myriad Genetics, Inc. (NASDAQ:MYGN)

State of New Jersey Common Pension Fund D purchased a new position in Myriad Genetics, Inc. (NASDAQ:MYGN) in the third quarter, HoldingsChannel reports. The institutional investor purchased 71,739 shares of the company’s stock, valued at approximately $1,965,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MYGN. Allspring Global Investments Holdings LLC boosted its stake in shares of Myriad Genetics by 90.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,805 shares of the company’s stock valued at $188,000 after purchasing an additional 4,193 shares in the last quarter. Swiss National Bank boosted its stake in shares of Myriad Genetics by 8.2% in the 1st quarter. Swiss National Bank now owns 174,700 shares of the company’s stock valued at $3,725,000 after purchasing an additional 13,300 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Myriad Genetics by 14.2% in the 1st quarter. ProShare Advisors LLC now owns 23,993 shares of the company’s stock valued at $512,000 after purchasing an additional 2,990 shares in the last quarter. State Board of Administration of Florida Retirement System boosted 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 purchasing an additional 2,050 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Myriad Genetics by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 10,035,708 shares of the company’s stock valued at $213,961,000 after purchasing an additional 81,475 shares in the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Insider Transactions at Myriad Genetics

In other news, Director Colleen F. Reitan sold 46,012 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total value of $1,286,035.40. Following the sale, the director now directly owns 42,533 shares of the company’s stock, valued at $1,188,797.35. This represents a 51.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul J. Diaz sold 15,000 shares of the company’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 completion of the sale, the chief executive officer now directly owns 962,378 shares in the company, valued at $22,067,327.54. This represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,012 shares of company stock valued at $1,900,485 in the last three months. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MYGN. Wells Fargo & Company began coverage on shares of Myriad Genetics in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price objective for the company. StockNews.com upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price target on shares of Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. TD Cowen upped their price target 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. Finally, Piper Sandler lowered their price target 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. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $28.36.

Myriad Genetics Stock Down 2.7 %

Shares of NASDAQ MYGN opened at $15.25 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. Myriad Genetics, Inc. has a 12 month low of $15.18 and a 12 month high of $29.30. The firm has a market capitalization of $1.39 billion, a PE ratio of -11.73 and a beta of 1.93. The firm has a fifty day simple moving average of $23.43 and a two-hundred day simple moving average of $24.67.

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.