Public Sector Pension Investment Board Has $2.56 Million Holdings 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 boosted its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 26.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund 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 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MYGN. Sterling Capital Management LLC grew its position in Myriad Genetics by 829.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock worth $39,000 after buying an additional 2,556 shares during the last quarter. GAMMA Investing LLC grew its position in Myriad Genetics by 520.8% in the first quarter. GAMMA Investing LLC now owns 4,470 shares of the company's stock worth $40,000 after buying an additional 3,750 shares during the last quarter. CWM LLC grew its position in Myriad Genetics by 600.2% in the first quarter. CWM LLC now owns 9,796 shares of the company's stock worth $87,000 after buying an additional 8,397 shares during the last quarter. M.E. Allison & CO. Inc. acquired a new position in Myriad Genetics in the first quarter worth approximately $93,000. Finally, Blue Trust Inc. grew its position 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 purchasing an additional 5,214 shares in the last quarter. Institutional investors and hedge funds own 99.02% of the company's stock.

Myriad Genetics Price Performance

Shares of MYGN stock traded up $0.19 on Friday, hitting $6.02. The company's stock had a trading volume of 1,009,318 shares, compared to its average volume of 2,482,009. Myriad Genetics, Inc. has a fifty-two week low of $3.76 and a fifty-two week high of $29.30. The firm's fifty day moving average price is $5.15 and its 200-day moving average price is $7.17. The stock has a market capitalization of $560.13 million, a price-to-earnings ratio of -1.41 and a beta of 1.89.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wolfe Research cut shares of Myriad Genetics from an "outperform" rating to a "peer perform" rating in a research report on Thursday, May 8th. Wells Fargo & Company lowered shares of Myriad Genetics from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $22.00 to $6.00 in a research note on Wednesday, May 7th. Raymond James Financial reissued an "outperform" rating and set a $10.00 target price (down previously from $19.00) on shares of Myriad Genetics in a research note on Wednesday, May 7th. Craig Hallum set a $18.00 target price on shares of Myriad Genetics and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen lowered shares of Myriad Genetics from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $12.45.

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.