The Manufacturers Life Insurance Company Sells 823 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

The Manufacturers Life Insurance Company trimmed its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 1.6% in the third quarter, Holdings Channel reports. The fund owned 49,248 shares of the company’s stock after selling 823 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Myriad Genetics were worth $1,349,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Innealta Capital LLC bought a new position in shares of Myriad Genetics in the 2nd quarter valued at $36,000. GAMMA Investing LLC lifted its stake in shares of Myriad Genetics by 34.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after acquiring an additional 412 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Myriad Genetics in the second quarter valued at $60,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Myriad Genetics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock valued at $87,000 after purchasing an additional 583 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Myriad Genetics in the second quarter valued at $82,000. 99.02% of the stock is currently owned by institutional investors.

Insider Activity at Myriad Genetics

In other Myriad Genetics news, CEO Paul J. Diaz sold 15,000 shares of Myriad Genetics 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by insiders.

Myriad Genetics Price Performance

Shares of NASDAQ MYGN opened at $15.34 on Wednesday. Myriad Genetics, Inc. has a fifty-two week low of $14.34 and a fifty-two week high of $29.30. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -11.80 and a beta of 1.88. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The firm’s 50-day simple moving average is $19.55 and its 200 day simple moving average is $23.76.

Analysts Set New Price Targets

A number of analysts have weighed in on MYGN shares. Leerink Partners downgraded Myriad Genetics from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $30.00 to $21.00 in a report on Monday. Leerink Partnrs downgraded Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday. Piper Sandler decreased their price target on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, November 11th. 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. Finally, Scotiabank increased their price target on Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Myriad Genetics currently has an average rating of “Hold” and a consensus target price of $25.42.

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.