Nuveen LLC Invests $10.44 Million in Myriad Genetics, Inc. $MYGN

Key Points

• Nuveen LLC has invested approximately $10.44 million in Myriad Genetics, acquiring 1,176,683 shares, which constitutes 1.28% of the company's stock.
• Several large institutional investors have significantly increased their stakes in Myriad Genetics, with ownership among institutional investors at 99.02% of total shares.
• Stock analysts have downgraded Myriad Genetics, with price targets slashed to as low as $6.00 from previous estimates, reflecting a consensus rating of "Hold."

Nuveen 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 filing with the Securities and Exchange Commission. The institutional investor acquired 1,176,683 shares of the company's stock, valued at approximately $10,437,000. Nuveen LLC owned approximately 1.28% of Myriad Genetics as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MYGN. Sterling Capital Management LLC increased its holdings in shares of Myriad Genetics by 829.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock worth $39,000 after acquiring an additional 2,556 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Myriad Genetics by 520.8% during the 1st quarter. GAMMA Investing LLC now owns 4,470 shares of the company's stock worth $40,000 after acquiring an additional 3,750 shares during the last quarter. CWM LLC increased its holdings in shares of Myriad Genetics by 600.2% during the 1st quarter. CWM LLC now owns 9,796 shares of the company's stock worth $87,000 after acquiring an additional 8,397 shares during the last quarter. M.E. Allison & CO. Inc. acquired a new position in shares of Myriad Genetics during the 1st quarter worth approximately $93,000. Finally, Blue Trust Inc. increased its holdings in shares of 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 acquiring an additional 5,214 shares during the last quarter. 99.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on MYGN. Wells Fargo & Company lowered 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 report on Wednesday, May 7th. The Goldman Sachs Group decreased their target price on Myriad Genetics from $14.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Wolfe Research lowered Myriad Genetics from an "outperform" rating to a "peer perform" rating in a report on Thursday, May 8th. Wall Street Zen lowered Myriad Genetics from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Craig Hallum set a $18.00 price objective on Myriad Genetics and gave the company a "buy" rating in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $12.45.

Myriad Genetics Price Performance

NASDAQ MYGN traded up $0.29 on Thursday, reaching $6.22. The stock had a trading volume of 1,198,176 shares, compared to its average volume of 2,386,305. The firm has a fifty day moving average of $5.23 and a two-hundred day moving average of $7.03. Myriad Genetics, Inc. has a 1-year low of $3.76 and a 1-year high of $29.30. The company has a market cap of $578.71 million, a P/E ratio of -1.45 and a beta of 1.89.

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.