Myriad Genetics, Inc. (NASDAQ:MYGN) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. grew its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 8.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,055 shares of the company’s stock after purchasing an additional 4,710 shares during the quarter. Franklin Resources Inc. owned approximately 0.06% of Myriad Genetics worth $1,457,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Bank of New York Mellon Corp grew its stake in Myriad Genetics by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 719,291 shares of the company’s stock valued at $17,594,000 after acquiring an additional 28,115 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Myriad Genetics in the second quarter valued at approximately $36,000. Natixis Advisors LLC grew its position in shares of Myriad Genetics by 15.5% in the second quarter. Natixis Advisors LLC now owns 275,367 shares of the company’s stock valued at $6,735,000 after purchasing an additional 37,002 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Myriad Genetics by 2.4% in the second quarter. Rhumbline Advisers now owns 283,435 shares of the company’s stock valued at $6,933,000 after purchasing an additional 6,761 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in Myriad Genetics by 3.4% during the second quarter. Arizona State Retirement System now owns 25,160 shares of the company’s stock worth $615,000 after buying an additional 829 shares in the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Myriad Genetics Price Performance

MYGN opened at $13.42 on Friday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -10.32 and a beta of 1.87. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The stock’s 50-day moving average price is $16.67 and its 200 day moving average price is $22.95. Myriad Genetics, Inc. has a 12-month low of $12.87 and a 12-month high of $29.30.

Insider Activity

In other news, CEO Paul J. Diaz sold 15,000 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $22.93, for a total value of $343,950.00. Following the sale, the chief executive officer now directly owns 962,378 shares in the company, valued at approximately $22,067,327.54. This trade represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MYGN. Leerink Partners downgraded Myriad Genetics from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $30.00 to $21.00 in a research note on Monday, December 9th. Piper Sandler reduced their target price on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. StockNews.com lowered shares of Myriad Genetics from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Bank of America cut their price target on shares of Myriad Genetics from $15.00 to $13.00 and set an “underperform” rating for the company in a report on Friday, December 13th. Finally, Leerink Partnrs lowered shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $24.27.

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.