PDT Partners LLC Buys Shares of 96,434 Myriad Genetics, Inc. $MYGN

Key Points

• PDT Partners LLC has acquired 96,434 shares of Myriad Genetics, valued at approximately $855,000, representing a 0.10% stake in the company.
• Several other institutional investors have also increased their positions in Myriad Genetics, reflecting a strong interest among hedge funds, which currently own 99.02% of the stock.
• Analysts have given mixed ratings on Myriad Genetics, with a consensus price target of $12.45 and several reports reducing their forecasts for the stock.

PDT Partners LLC acquired a new stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 96,434 shares of the company's stock, valued at approximately $855,000. PDT Partners LLC owned approximately 0.10% of Myriad Genetics at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Jennison Associates LLC increased its holdings in Myriad Genetics by 3.0% in the first quarter. Jennison Associates LLC now owns 60,811 shares of the company's stock worth $539,000 after buying an additional 1,796 shares during the last quarter. Natixis Advisors LLC grew its holdings in Myriad Genetics by 1.3% during the first quarter. Natixis Advisors LLC now owns 212,138 shares of the company's stock valued at $1,882,000 after purchasing an additional 2,810 shares during the last quarter. ProShare Advisors LLC grew its holdings in Myriad Genetics by 12.2% during the fourth quarter. ProShare Advisors LLC now owns 26,982 shares of the company's stock valued at $370,000 after purchasing an additional 2,933 shares during the last quarter. GAMMA Investing LLC grew its holdings in Myriad Genetics by 520.8% during the first quarter. GAMMA Investing LLC now owns 4,470 shares of the company's stock valued at $40,000 after purchasing an additional 3,750 shares during the last quarter. Finally, State of Wyoming grew its stake in shares of Myriad Genetics by 147.0% in the first quarter. State of Wyoming now owns 8,641 shares of the company's stock worth $77,000 after acquiring an additional 5,143 shares during the last quarter. 99.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MYGN has been the topic of a number of recent research reports. Piper Sandler decreased their target price 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. Scotiabank lowered Myriad Genetics from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $20.00 to $6.00 in a report on Wednesday, May 21st. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $12.45.

Myriad Genetics Price Performance

Shares of Myriad Genetics stock traded down $0.05 during trading on Tuesday, hitting $6.87. 367,044 shares of the company were exchanged, compared to its average volume of 1,710,777. The firm has a market capitalization of $638.75 million, a P/E ratio of -1.60 and a beta of 1.93. Myriad Genetics, Inc. has a 1-year low of $3.76 and a 1-year high of $29.30. The firm's fifty day moving average price is $5.45 and its 200 day moving average price is $6.56.

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.