Public Sector Pension Investment Board Has $2.56 Million Position in Myriad Genetics, Inc. $MYGN

Key Points

• The Public Sector Pension Investment Board increased its stake in Myriad Genetics by 26.9%, acquiring an additional 61,270 shares during the first quarter, bringing their total ownership to 288,717 shares.
• Several investment firms have significantly boosted their holdings in Myriad Genetics, with Sterling Capital Management increasing its position by 829.9%, while others like GAMMA Investing and CWM LLC also made substantial increases in their stakes.
• Analysts have set a range of price targets for Myriad Genetics, with opinions divided; Craig Hallum set a target at $18.00, while Scotiabank drastically lowered its target to $6.00, reflecting a consensus rating of Hold with a target of $12.45.

Public Sector Pension Investment Board raised its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 26.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 288,717 shares of the company's stock after buying an additional 61,270 shares during the quarter. Public Sector Pension Investment Board owned 0.31% of Myriad Genetics worth $2,561,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Northern Trust Corp lifted 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 valued at $14,151,000 after buying an additional 64,923 shares in the last quarter. Barclays PLC lifted its stake in Myriad Genetics by 7.3% during the fourth quarter. Barclays PLC now owns 204,051 shares of the company's stock valued at $2,797,000 after buying an additional 13,808 shares in the last quarter. Blue Trust Inc. lifted its stake in Myriad Genetics by 57.0% during the first quarter. Blue Trust Inc. now owns 14,367 shares of the company's stock valued at $127,000 after buying an additional 5,214 shares in the last quarter. Man Group plc purchased a new stake in Myriad Genetics during the fourth quarter valued at about $390,000. Finally, Invesco Ltd. lifted its stake in Myriad Genetics by 37.9% during the fourth quarter. Invesco Ltd. now owns 769,284 shares of the company's stock valued at $10,547,000 after buying an additional 211,503 shares in the last quarter. 99.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wolfe Research lowered shares of Myriad Genetics from an "outperform" rating to a "peer perform" rating in a research note on Thursday, May 8th. Wall Street Zen lowered shares of Myriad Genetics from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. UBS Group reduced their price target on shares of Myriad Genetics from $16.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Craig Hallum set a $18.00 price target on shares of Myriad Genetics and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $10.00 price target (down from $19.00) on shares of Myriad Genetics in a research report on Wednesday, May 7th. Four research 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. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $12.45.

Myriad Genetics Price Performance

NASDAQ:MYGN traded down $0.13 during mid-day trading on Monday, reaching $5.89. The stock had a trading volume of 935,117 shares, compared to its average volume of 2,469,624. The business's 50 day moving average is $5.17 and its 200 day moving average is $7.09. Myriad Genetics, Inc. has a fifty-two week low of $3.76 and a fifty-two week high of $29.30. The stock has a market cap of $548.01 million, a P/E ratio of -1.38 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.