Graham Capital Management L.P. Takes Position in Myriad Genetics, Inc. $MYGN

Key Points

• Graham Capital Management L.P. has made a new investment of approximately $633,000 in Myriad Genetics by acquiring 71,349 shares, representing 0.08% ownership as per their latest SEC filing.
• Myriad Genetics has experienced significant trading activity, with various hedge funds adjusting their holdings, leading to a combined institutional ownership of 99.02% of the company's stock.
• Analyst ratings for Myriad Genetics vary, with a current average rating of "Hold" and a price target of $12.45, reflecting mixed outlooks from research analysts.

Graham Capital Management L.P. purchased a new position in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 71,349 shares of the company's stock, valued at approximately $633,000. Graham Capital Management L.P. owned about 0.08% of Myriad Genetics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baird Financial Group Inc. acquired a new stake in Myriad Genetics in the first quarter valued at approximately $105,000. State of Wyoming raised its holdings in shares of Myriad Genetics by 147.0% during the 1st quarter. State of Wyoming now owns 8,641 shares of the company's stock valued at $77,000 after purchasing an additional 5,143 shares in the last quarter. Trexquant Investment LP raised its holdings in shares of Myriad Genetics by 16.3% during the 1st quarter. Trexquant Investment LP now owns 107,431 shares of the company's stock valued at $953,000 after purchasing an additional 15,055 shares in the last quarter. Ieq Capital LLC acquired a new stake in shares of Myriad Genetics in the 1st quarter valued at $158,000. Finally, Walleye Capital LLC bought a new stake in Myriad Genetics in the first quarter worth $1,655,000. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on MYGN. Piper Sandler lowered their target price on shares of Myriad Genetics from $12.50 to $9.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Scotiabank downgraded Myriad Genetics from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the stock from $20.00 to $6.00 in a research note on Wednesday, May 21st. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $12.45.

Myriad Genetics Stock Up 11.3%

MYGN stock traded up $0.78 during mid-day trading on Thursday, reaching $7.68. 2,254,080 shares of the stock traded hands, compared to its average volume of 1,302,765. Myriad Genetics, Inc. has a 52 week low of $3.76 and a 52 week high of $29.30. The business has a 50-day moving average of $5.54 and a two-hundred day moving average of $6.52. The firm has a market capitalization of $714.59 million, a PE ratio of -1.79 and a beta of 1.93.

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.