Quest Partners LLC Boosts Stake in Myriad Genetics, Inc. (NASDAQ:MYGN)

Quest Partners LLC lifted its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN) by 50.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,001 shares of the company’s stock after buying an additional 2,697 shares during the quarter. Quest Partners LLC’s holdings in Myriad Genetics were worth $219,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Hexagon Capital Partners LLC boosted its stake in shares of Myriad Genetics by 75.3% in the second quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock valued at $28,000 after buying an additional 491 shares in the last quarter. Innealta Capital LLC purchased a new stake in Myriad Genetics during the second quarter worth $36,000. GAMMA Investing LLC boosted its position in Myriad Genetics by 34.1% during the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock worth $44,000 after purchasing an additional 412 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Myriad Genetics during the second quarter worth $60,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in 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 worth $87,000 after purchasing an additional 583 shares in the last quarter. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Myriad Genetics

In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the completion of the sale, the director now owns 42,533 shares of the company’s stock, valued at approximately $1,188,797.35. The trade was a 51.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul J. Diaz sold 15,000 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were 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 of the company’s stock, valued at approximately $22,067,327.54. This trade represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,012 shares of company stock worth $1,900,485. 2.10% of the stock is currently owned by insiders.

Myriad Genetics Stock Performance

Myriad Genetics stock opened at $16.28 on Thursday. The firm has a market capitalization of $1.48 billion, a P/E ratio of -12.52 and a beta of 1.93. The stock has a fifty day moving average price of $21.77 and a 200 day moving average price of $24.35. Myriad Genetics, Inc. has a 52 week low of $14.72 and a 52 week high of $29.30. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05.

Analysts Set New Price Targets

A number of analysts have commented on the company. StockNews.com downgraded Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. TD Cowen boosted their target price on Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Scotiabank boosted their target price on Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 13th. Piper Sandler decreased their target price on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Finally, Morgan Stanley cut 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.36.

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.