Dynamic Technology Lab Private Ltd Acquires Shares of 59,819 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 bought a new stake in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 59,819 shares of the company's stock, valued at approximately $531,000. Dynamic Technology Lab Private Ltd owned 0.06% of Myriad Genetics as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MYGN. Nuveen LLC purchased a new stake in Myriad Genetics in the first quarter valued at approximately $10,437,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Myriad Genetics by 67.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 921,911 shares of the company's stock valued at $8,177,000 after purchasing an additional 372,455 shares during the period. AQR Capital Management LLC grew its holdings in Myriad Genetics by 278.9% in the first quarter. AQR Capital Management LLC now owns 433,392 shares of the company's stock valued at $3,844,000 after purchasing an additional 319,007 shares during the period. Walleye Capital LLC purchased a new stake in Myriad Genetics in the first quarter valued at approximately $1,655,000. Finally, Knott David M Jr purchased a new stake in Myriad Genetics in the first quarter valued at approximately $1,419,000. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, 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. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Myriad Genetics presently has a consensus rating of "Hold" and a consensus price target of $12.45.

Myriad Genetics Stock Performance

Shares of MYGN stock traded up $0.19 on Tuesday, hitting $7.50. The stock had a trading volume of 1,216,482 shares, compared to its average volume of 1,334,003. The firm has a market capitalization of $697.80 million, a price-to-earnings ratio of -1.75 and a beta of 1.93. The stock's 50 day moving average is $5.65 and its 200-day moving average is $6.41. Myriad Genetics, Inc. has a 52-week low of $3.76 and a 52-week high of $29.30.

Myriad Genetics Company 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.