Public Employees Retirement System of Ohio Raises Position in Myriad Genetics, Inc. $MYGN

Key Points

• The Public Employees Retirement System of Ohio significantly increased its stake in Myriad Genetics by 6,578.8%, owning 59,107 shares valued at $314,000 by the end of the second quarter.
• Despite the increased institutional interest, Weiss Ratings recently reaffirmed a "sell" rating for Myriad Genetics, with the stock currently holding a consensus "Hold" rating and an average target price of $12.45.
• As of now, Myriad Genetics shares are trading at approximately $7.99, with a twelve-month low of $3.76 and a high of $26.60, reflecting a market capitalization of $743.39 million.

Public Employees Retirement System of Ohio boosted its stake in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 6,578.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,107 shares of the company's stock after buying an additional 58,222 shares during the period. Public Employees Retirement System of Ohio owned 0.06% of Myriad Genetics worth $314,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Myriad Genetics by 0.7% in the first quarter. Vanguard Group Inc. now owns 10,667,755 shares of the company's stock worth $94,623,000 after buying an additional 76,712 shares during the period. Nuveen LLC purchased a new stake in Myriad Genetics in the first quarter worth about $10,437,000. Charles Schwab Investment Management Inc. lifted its holdings in Myriad Genetics by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,165,395 shares of the company's stock worth $10,337,000 after buying an additional 39,860 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Myriad Genetics by 67.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 921,911 shares of the company's stock worth $8,177,000 after buying an additional 372,455 shares during the period. Finally, Invesco Ltd. lifted its holdings in Myriad Genetics by 19.1% in the first quarter. Invesco Ltd. now owns 916,520 shares of the company's stock worth $8,130,000 after buying an additional 147,236 shares during the period. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Myriad Genetics in a report on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $12.45.

Myriad Genetics Stock Down 0.9%

Shares of NASDAQ MYGN opened at $7.99 on Tuesday. Myriad Genetics, Inc. has a twelve month low of $3.76 and a twelve month high of $26.60. The firm has a market cap of $743.39 million, a P/E ratio of -1.87 and a beta of 1.97. The company has a 50 day moving average of $6.43 and a 200 day moving average of $6.14.

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.

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