XTX Topco Ltd Cuts Position in Myriad Genetics, Inc. $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 lessened its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 66.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,210 shares of the company's stock after selling 42,870 shares during the quarter. XTX Topco Ltd's holdings in Myriad Genetics were worth $188,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp increased its stake in Myriad Genetics by 6.7% during the fourth quarter. Northern Trust Corp now owns 1,032,132 shares of the company's stock worth $14,151,000 after purchasing an additional 64,923 shares during the period. Barclays PLC increased its stake in Myriad Genetics by 7.3% during the 4th quarter. Barclays PLC now owns 204,051 shares of the company's stock worth $2,797,000 after buying an additional 13,808 shares during the period. Blue Trust Inc. increased its stake in Myriad Genetics by 57.0% during the 1st quarter. Blue Trust Inc. now owns 14,367 shares of the company's stock worth $127,000 after buying an additional 5,214 shares during the period. Man Group plc acquired a new stake in Myriad Genetics during the 4th quarter worth approximately $390,000. Finally, Invesco Ltd. grew its stake in shares of Myriad Genetics by 37.9% in the fourth quarter. Invesco Ltd. now owns 769,284 shares of the company's stock worth $10,547,000 after acquiring an additional 211,503 shares in the last quarter. Hedge funds and other institutional investors own 99.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MYGN shares. Craig Hallum set a $18.00 target price on Myriad Genetics and gave the company a "buy" rating in a report on Wednesday, May 7th. Raymond James Financial reiterated 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. Wall Street Zen downgraded Myriad Genetics from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Scotiabank cut shares of Myriad Genetics from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the stock from $20.00 to $6.00 in a report on Wednesday, May 21st. Finally, Piper Sandler dropped their price objective 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $12.45.

Myriad Genetics Stock Performance

Shares of MYGN stock traded up $0.13 during mid-day trading on Monday, hitting $5.84. 437,819 shares of the stock were exchanged, compared to its average volume of 1,749,280. The stock has a market capitalization of $543.17 million, a price-to-earnings ratio of -1.36 and a beta of 1.89. Myriad Genetics, Inc. has a 12-month low of $3.76 and a 12-month high of $29.30. The stock's fifty day simple moving average is $5.10 and its two-hundred day simple moving average is $7.38.

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.