55,842 Shares in Myriad Genetics, Inc. (NASDAQ:MYGN) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 55,842 shares of the company’s stock, valued at approximately $1,530,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC lifted its position in Myriad Genetics by 75.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock worth $28,000 after buying an additional 491 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Myriad Genetics during the second quarter worth $36,000. GAMMA Investing LLC raised its holdings in shares of 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 acquiring an additional 412 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Myriad Genetics during the second quarter valued at $60,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Myriad Genetics in the second quarter valued at about $82,000. 99.02% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Myriad Genetics

In related news, Director Heinrich Dreismann sold 10,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $27.05, for a total transaction of $270,500.00. Following the transaction, the director now owns 121,648 shares of the company’s stock, valued at approximately $3,290,578.40. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Paul J. Diaz sold 15,000 shares of the stock in a transaction 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Myriad Genetics Stock Performance

NASDAQ MYGN opened at $16.23 on Wednesday. The stock has a 50-day simple moving average of $20.85 and a 200 day simple moving average of $24.11. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. Myriad Genetics, Inc. has a twelve month low of $14.72 and a twelve month high of $29.30.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MYGN. Piper Sandler cut their price target on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. TD Cowen raised their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Morgan Stanley decreased their target price on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Scotiabank raised their price target on shares of Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.36.

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.