Myriad Genetics, Inc. $MYGN Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Myriad Genetics by 0.7%, owning approximately 11.57% of the company, valued at about $94.6 million.
• Several other hedge funds have also boosted their positions in Myriad Genetics, indicating significant institutional interest in the stock, which now has 99.02% ownership by institutional investors.
• A recent analyst report downgraded Myriad Genetics from a "buy" to a "hold" rating, impacting its price target significantly, with the company currently holding a consensus rating of "Hold" and an average price target of $12.45.

Vanguard Group Inc. boosted its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 0.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,667,755 shares of the company's stock after buying an additional 76,712 shares during the quarter. Vanguard Group Inc. owned approximately 11.57% of Myriad Genetics worth $94,623,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Natixis Advisors LLC increased its holdings in Myriad Genetics by 1.3% in the first quarter. Natixis Advisors LLC now owns 212,138 shares of the company's stock valued at $1,882,000 after buying an additional 2,810 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Myriad Genetics by 114.5% during the first quarter. Y Intercept Hong Kong Ltd now owns 112,984 shares of the company's stock worth $1,002,000 after purchasing an additional 60,317 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Myriad Genetics by 3.0% during the first quarter. Jennison Associates LLC now owns 60,811 shares of the company's stock worth $539,000 after purchasing an additional 1,796 shares during the last quarter. CWM LLC grew its holdings in shares of Myriad Genetics by 600.2% during the first quarter. CWM LLC now owns 9,796 shares of the company's stock worth $87,000 after purchasing an additional 8,397 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Myriad Genetics by 2.7% during the first quarter. Principal Financial Group Inc. now owns 453,251 shares of the company's stock worth $4,020,000 after purchasing an additional 11,864 shares during the last quarter. Hedge funds and other institutional investors own 99.02% of the company's stock.

Myriad Genetics Price Performance

Shares of MYGN stock traded up $0.29 during midday trading on Thursday, reaching $6.22. 1,198,176 shares of the company traded hands, compared to its average volume of 2,386,305. The firm's 50 day simple moving average is $5.23 and its two-hundred day simple moving average is $7.03. Myriad Genetics, Inc. has a 1-year low of $3.76 and a 1-year high of $29.30. The firm has a market cap of $578.71 million, a PE ratio of -1.45 and a beta of 1.89.

Analysts Set New Price Targets

MYGN has been the topic of several research reports. The Goldman Sachs Group dropped their price objective on Myriad Genetics from $14.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Piper Sandler decreased 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. Wells Fargo & Company downgraded shares of Myriad Genetics from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $22.00 to $6.00 in a research note on Wednesday, May 7th. Craig Hallum set a $18.00 target price on shares of Myriad Genetics and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen downgraded shares of Myriad Genetics from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $12.45.

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.