Allspring Global Investments Holdings LLC lessened its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN – Free Report) by 88.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,332 shares of the company’s stock after selling 47,126 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Myriad Genetics were worth $147,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Royal Bank of Canada lifted its stake in shares of Myriad Genetics by 29.0% during the third quarter. Royal Bank of Canada now owns 2,339 shares of the company’s stock valued at $44,000 after acquiring an additional 526 shares during the period. Natixis acquired a new position in shares of Myriad Genetics during the fourth quarter valued at $44,000. Point72 Hong Kong Ltd lifted its stake in Myriad Genetics by 722.8% in the second quarter. Point72 Hong Kong Ltd now owns 3,217 shares of the company’s stock valued at $58,000 after buying an additional 2,826 shares during the period. Tower Research Capital LLC TRC lifted its stake in Myriad Genetics by 99.8% in the first quarter. Tower Research Capital LLC TRC now owns 2,654 shares of the company’s stock valued at $62,000 after buying an additional 1,326 shares during the period. Finally, Point72 Middle East FZE acquired a new position in Myriad Genetics in the fourth quarter valued at about $82,000. Institutional investors and hedge funds own 99.02% of the company’s stock.
Myriad Genetics Trading Up 0.2 %
NASDAQ MYGN opened at $16.49 on Tuesday. The firm has a market cap of $1.36 billion, a P/E ratio of -4.91 and a beta of 1.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.27 and a quick ratio of 1.15. The stock’s 50-day moving average is $15.91 and its 200-day moving average is $19.12. Myriad Genetics, Inc. has a one year low of $13.82 and a one year high of $24.21.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on MYGN shares. JPMorgan Chase & Co. cut their target price on Myriad Genetics from $17.00 to $14.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 7th. StockNews.com raised Myriad Genetics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, The Goldman Sachs Group increased their target price on Myriad Genetics from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Myriad Genetics presently has a consensus rating of “Hold” and a consensus target price of $23.25.
Insider Buying and Selling
In related news, CFO Richard Bryan Riggsbee sold 30,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $15.69, for a total transaction of $470,700.00. Following the completion of the transaction, the chief financial officer now directly owns 321,812 shares in the company, valued at $5,049,230.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.
About Myriad Genetics
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 mental health applications. 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, or 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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