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

Barclays PLC raised its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN) by 136.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 190,243 shares of the company’s stock after buying an additional 109,931 shares during the quarter. Barclays PLC’s holdings in Myriad Genetics were worth $5,210,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its holdings in Myriad Genetics by 3.9% in 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 lifted its position in shares of Myriad Genetics by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 719,291 shares of the company’s stock worth $17,594,000 after purchasing an additional 28,115 shares during the period. Legato Capital Management LLC purchased a new stake in shares of Myriad Genetics in the 2nd quarter worth about $1,123,000. Innealta Capital LLC bought a new stake in shares of Myriad Genetics during the 2nd quarter valued at about $36,000. Finally, Peregrine Capital Management LLC increased its position in shares of Myriad Genetics by 1.3% during the second quarter. Peregrine Capital Management LLC now owns 305,217 shares of the company’s stock valued at $7,466,000 after buying an additional 3,960 shares during the period. 99.02% of the stock is owned by hedge funds and other institutional investors.

Myriad Genetics Stock Performance

Shares of MYGN stock opened at $13.36 on Friday. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -10.28 and a beta of 1.87. 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 one year low of $12.87 and a one year high of $29.30. The company’s 50-day moving average is $17.92 and its 200 day moving average is $23.31.

Insider Activity at Myriad Genetics

In other Myriad Genetics news, CEO Paul J. Diaz sold 15,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $22,067,327.54. This represents a 1.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on MYGN. Leerink Partners lowered shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $30.00 to $21.00 in a report on Monday, December 9th. Bank of America dropped their price target on Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating on the stock in a research report on Friday, December 13th. Wells Fargo & Company initiated coverage on Myriad Genetics in a report on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price objective for the company. Piper Sandler dropped their target price on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Finally, Leerink Partnrs lowered shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.