Walleye Capital LLC Acquires Shares of 186,602 Myriad Genetics, Inc. $MYGN

Key Points

• Walleye Capital LLC has invested approximately $1.66 million in Myriad Genetics, acquiring 186,602 shares, which represents about 0.20% ownership of the company.
• Myriad Genetics has experienced significant changes in institutional ownership, with several firms increasing their stakes, leading to 99.02% of the stock being owned by hedge funds and other institutional investors.
• Analyst ratings for Myriad Genetics have varied widely, with target prices set as low as $6 and as high as $18, resulting in a consensus rating of "Hold" and an average target price of $12.45.

Walleye Capital LLC acquired a new stake in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 186,602 shares of the company's stock, valued at approximately $1,655,000. Walleye Capital LLC owned 0.20% of Myriad Genetics as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in MYGN. Nuveen LLC purchased a new position in Myriad Genetics during the 1st quarter valued at about $10,437,000. D. E. Shaw & Co. Inc. grew its holdings in shares of Myriad Genetics by 58.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,819,814 shares of the company's stock worth $24,950,000 after purchasing an additional 668,429 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Myriad Genetics by 67.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 921,911 shares of the company's stock worth $8,177,000 after purchasing an additional 372,455 shares in the last quarter. Knott David M Jr purchased a new position in shares of Myriad Genetics during the first quarter worth about $1,419,000. Finally, Invesco Ltd. grew its holdings in shares of Myriad Genetics by 19.1% during the first quarter. Invesco Ltd. now owns 916,520 shares of the company's stock worth $8,130,000 after purchasing an additional 147,236 shares in the last quarter. Hedge funds and other institutional investors own 99.02% of the company's stock.

Myriad Genetics Trading Down 3.7%

MYGN stock traded down $0.26 during midday trading on Wednesday, hitting $6.65. The company had a trading volume of 636,989 shares, compared to its average volume of 1,723,801. Myriad Genetics, Inc. has a 52 week low of $3.76 and a 52 week high of $29.30. The stock's 50 day moving average price is $5.32 and its 200 day moving average price is $6.83. The stock has a market cap of $618.25 million, a price-to-earnings ratio of -1.55 and a beta of 1.93.

Analyst Ratings Changes

Several brokerages have recently commented on MYGN. UBS Group cut their price objective on Myriad Genetics from $16.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company lowered Myriad Genetics from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $22.00 to $6.00 in a report on Wednesday, May 7th. Wall Street Zen lowered Myriad Genetics from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Scotiabank lowered Myriad Genetics from a "sector outperform" rating to a "sector perform" rating and cut their target price for the stock from $20.00 to $6.00 in a research note on Wednesday, May 21st. Finally, Wolfe Research lowered Myriad Genetics from an "outperform" rating to a "peer perform" rating in a research note on Thursday, May 8th. Four 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 company's stock. According to MarketBeat, the stock has a consensus 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.