Algert Global LLC Increases Holdings in Myriad Genetics, Inc. $MYGN

Key Points

• Algert Global LLC significantly increased its position in Myriad Genetics by 200.4% during the first quarter, now holding 180,548 shares valued at approximately $1.60 million.
• Most large investors have been accumulating Myriad Genetics shares, with 99.02% of the stock now owned by institutional investors and hedge funds.
• Recent analyst ratings show Myriad Genetics has been downgraded by several firms, leading to a consensus price target of $12.45 and an average rating of "Hold."

Algert Global LLC grew its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 200.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 180,548 shares of the company's stock after acquiring an additional 120,450 shares during the period. Algert Global LLC owned 0.20% of Myriad Genetics worth $1,601,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Northern Trust Corp lifted its stake in shares of Myriad Genetics by 6.7% during the 4th quarter. Northern Trust Corp now owns 1,032,132 shares of the company's stock valued at $14,151,000 after buying an additional 64,923 shares in the last quarter. Barclays PLC raised its holdings in Myriad Genetics by 7.3% during the fourth quarter. Barclays PLC now owns 204,051 shares of the company's stock valued at $2,797,000 after acquiring an additional 13,808 shares during the period. Blue Trust Inc. raised its holdings in Myriad Genetics by 57.0% during the first quarter. Blue Trust Inc. now owns 14,367 shares of the company's stock valued at $127,000 after acquiring an additional 5,214 shares during the period. Man Group plc purchased a new position in shares of Myriad Genetics in the fourth quarter valued at about $390,000. Finally, Deutsche Bank AG boosted its stake in shares of Myriad Genetics by 53.1% in the fourth quarter. Deutsche Bank AG now owns 79,397 shares of the company's stock worth $1,089,000 after acquiring an additional 27,541 shares during the period. Hedge funds and other institutional investors own 99.02% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MYGN shares. Raymond James Financial reissued an "outperform" rating and set a $10.00 target price (down previously from $19.00) on shares of Myriad Genetics in a research note on Wednesday, May 7th. Wall Street Zen lowered shares of Myriad Genetics from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Scotiabank downgraded shares of Myriad Genetics from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the stock from $20.00 to $6.00 in a report on Wednesday, May 21st. Wells Fargo & Company lowered shares of Myriad Genetics from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $22.00 to $6.00 in a research report on Wednesday, May 7th. Finally, Piper Sandler cut their target price on shares of Myriad Genetics from $12.50 to $9.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $12.45.

Myriad Genetics Trading Up 2.4%

Shares of MYGN traded up $0.15 during trading hours on Thursday, reaching $6.08. 256,783 shares of the company traded hands, compared to its average volume of 1,716,550. The stock's fifty day moving average price is $5.21 and its 200 day moving average price is $7.07. The firm has a market cap of $565.22 million, a price-to-earnings ratio of -1.42 and a beta of 1.89. Myriad Genetics, Inc. has a 12-month low of $3.76 and a 12-month high of $29.30.

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.