Dynamic Technology Lab Private Ltd Makes New $531,000 Investment in Myriad Genetics, Inc. $MYGN

Key Points

• Dynamic Technology Lab Private Ltd has made a new investment in Myriad Genetics, acquiring 59,819 shares valued at approximately $531,000.
• Multiple hedge funds have significantly increased their positions in Myriad Genetics, with GAMMA Investing LLC boosting its holdings by 520.8% in the first quarter.
• Analysts have varied opinions on the stock, with Scotiabank downgrading Myriad Genetics and setting a new target price of $6.00, while the consensus rating remains a "Hold" with a target price of $12.45.

Dynamic Technology Lab Private Ltd purchased a new stake in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 59,819 shares of the company's stock, valued at approximately $531,000. Dynamic Technology Lab Private Ltd owned about 0.06% of Myriad Genetics as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. GAMMA Investing LLC grew its position in shares of Myriad Genetics by 520.8% in the first quarter. GAMMA Investing LLC now owns 4,470 shares of the company's stock valued at $40,000 after purchasing an additional 3,750 shares during the period. State of Wyoming boosted its stake in Myriad Genetics by 147.0% in the 1st quarter. State of Wyoming now owns 8,641 shares of the company's stock worth $77,000 after buying an additional 5,143 shares during the last quarter. CWM LLC grew its holdings in Myriad Genetics by 600.2% in the 1st quarter. CWM LLC now owns 9,796 shares of the company's stock valued at $87,000 after buying an additional 8,397 shares during the period. M.E. Allison & CO. Inc. purchased a new stake in Myriad Genetics in the 1st quarter valued at about $93,000. Finally, Baird Financial Group Inc. acquired a new position in shares of Myriad Genetics during the 1st quarter valued at about $105,000. Institutional investors and hedge funds own 99.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MYGN. Scotiabank downgraded shares of Myriad Genetics from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the company from $20.00 to $6.00 in a report on Wednesday, May 21st. Piper Sandler reduced their target price on Myriad Genetics from $12.50 to $9.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $12.45.

Myriad Genetics Stock Performance

Shares of NASDAQ:MYGN opened at $6.90 on Thursday. The company has a market cap of $641.98 million, a P/E ratio of -1.61 and a beta of 1.93. Myriad Genetics, Inc. has a one year low of $3.76 and a one year high of $29.30. The business's 50-day simple moving average is $5.50 and its 200 day simple moving average is $6.56.

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.

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