XTX Topco Ltd Sells 42,870 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Key Points

• XTX Topco Ltd has significantly reduced its holdings in Myriad Genetics, decreasing its position by 66.9% in the first quarter, owning 21,210 shares worth approximately $188,000.
• Several institutional investors have increased their stakes in Myriad Genetics, with Northern Trust Corp boosting its holdings by 6.7%, and Blue Trust Inc. growing its position by an impressive 57.0% during the same period.
• Analysts have varied price targets for Myriad Genetics, with projections ranging from $7.00 to $18.00, reflecting differing evaluations of the company's performance and stock outlook.

XTX Topco Ltd lowered its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 66.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,210 shares of the company's stock after selling 42,870 shares during the period. XTX Topco Ltd's holdings in Myriad Genetics were worth $188,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Earnest Partners LLC raised its stake in Myriad Genetics by 0.4% in the 4th quarter. Earnest Partners LLC now owns 3,971,598 shares of the company's stock valued at $54,451,000 after acquiring an additional 15,650 shares during the period. D. E. Shaw & Co. Inc. raised its stake in Myriad Genetics by 58.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,819,814 shares of the company's stock valued at $24,950,000 after acquiring an additional 668,429 shares during the period. Northern Trust Corp increased its position in Myriad Genetics by 6.7% during the 4th quarter. Northern Trust Corp now owns 1,032,132 shares of the company's stock worth $14,151,000 after buying an additional 64,923 shares during the period. Invesco Ltd. grew its holdings in shares of Myriad Genetics by 37.9% during the 4th quarter. Invesco Ltd. now owns 769,284 shares of the company's stock worth $10,547,000 after purchasing an additional 211,503 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Myriad Genetics by 87.4% in the fourth quarter. Renaissance Technologies LLC now owns 684,874 shares of the company's stock valued at $9,390,000 after buying an additional 319,500 shares in the last quarter. Institutional investors own 99.02% of the company's stock.

Myriad Genetics Stock Down 3.1%

Shares of Myriad Genetics stock traded down $0.18 on Friday, reaching $5.71. The company's stock had a trading volume of 1,205,447 shares, compared to its average volume of 2,427,871. The company has a market capitalization of $531.26 million, a price-to-earnings ratio of -1.33 and a beta of 1.89. The firm's fifty day simple moving average is $5.10 and its two-hundred day simple moving average is $7.45. Myriad Genetics, Inc. has a 52 week low of $3.76 and a 52 week high of $29.30.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MYGN. Raymond James Financial restated an "outperform" rating and set a $10.00 price objective (down from $19.00) on shares of Myriad Genetics in a research report on Wednesday, May 7th. Scotiabank cut Myriad Genetics from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the stock from $20.00 to $6.00 in a research report on Wednesday, May 21st. Piper Sandler cut their price objective on Myriad Genetics from $12.50 to $9.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Wall Street Zen cut Myriad Genetics from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, UBS Group dropped their price target on Myriad Genetics from $16.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Myriad Genetics has an average rating of "Hold" and a consensus target price 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.