134,336 Shares in Myriad Genetics, Inc. $MYGN Purchased by Jump Financial LLC

Key Points

• Jump Financial LLC invested approximately $1.19 million in Myriad Genetics, acquiring 134,336 shares during the first quarter.
• Various institutional investors, including Jennison Associates LLC and GAMMA Investing LLC, have increased their stakes in Myriad Genetics recently, indicating strong institutional support.
• Analysts have revised their ratings for Myriad Genetics, with some lowering price targets significantly; the current average target price is $12.45 with a consensus rating of "Hold."

Jump Financial LLC acquired a new position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 134,336 shares of the company's stock, valued at approximately $1,192,000. Jump Financial LLC owned 0.15% of Myriad Genetics at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Nuveen LLC acquired a new position in shares of Myriad Genetics during the first quarter worth $10,437,000. D. E. Shaw & Co. Inc. grew its stake in shares of Myriad Genetics by 58.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,819,814 shares of the company's stock worth $24,950,000 after purchasing an additional 668,429 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Myriad Genetics by 67.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 921,911 shares of the company's stock worth $8,177,000 after purchasing an additional 372,455 shares in the last quarter. Knott David M Jr acquired a new position in shares of Myriad Genetics during the first quarter worth $1,419,000. Finally, Invesco Ltd. grew its stake in shares of Myriad Genetics by 19.1% during the first quarter. Invesco Ltd. now owns 916,520 shares of the company's stock worth $8,130,000 after purchasing an additional 147,236 shares in the last quarter. Hedge funds and other institutional investors own 99.02% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MYGN shares. UBS Group lowered their target price on shares of Myriad Genetics from $16.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen downgraded shares of Myriad Genetics from a "buy" rating to a "hold" rating in a research note 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 research note on Wednesday, May 21st. Craig Hallum set a $18.00 price objective on shares of Myriad Genetics and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Raymond James Financial restated an "outperform" rating and issued a $10.00 price objective (down previously from $19.00) on shares of Myriad Genetics in a research note on Wednesday, May 7th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $12.45.

Myriad Genetics Stock Performance

Myriad Genetics stock traded down $0.26 during mid-day trading on Wednesday, reaching $6.65. 636,989 shares of the company were exchanged, compared to its average volume of 1,723,801. The firm has a market cap of $618.25 million, a PE ratio of -1.55 and a beta of 1.93. The firm's 50-day simple moving average is $5.32 and its two-hundred day simple moving average is $6.83. Myriad Genetics, Inc. has a twelve month low of $3.76 and a twelve month 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.