Aberdeen Group plc Boosts Stock Position in Myriad Genetics, Inc. $MYGN

Aberdeen Group plc grew its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 178.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 639,053 shares of the company’s stock after purchasing an additional 409,460 shares during the period. Aberdeen Group plc owned approximately 0.69% of Myriad Genetics worth $4,620,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kent Lake PR LLC acquired a new position in Myriad Genetics in the 2nd quarter worth approximately $6,638,000. Federated Hermes Inc. lifted its stake in Myriad Genetics by 103,916.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,122,333 shares of the company’s stock valued at $5,960,000 after acquiring an additional 1,121,254 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Myriad Genetics by 301.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,304,163 shares of the company’s stock valued at $9,429,000 after acquiring an additional 979,133 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Myriad Genetics in the second quarter worth $5,139,000. Finally, Glenview Capital Management LLC increased its stake in shares of Myriad Genetics by 17.6% in the second quarter. Glenview Capital Management LLC now owns 4,587,407 shares of the company’s stock worth $24,359,000 after acquiring an additional 687,857 shares during the period. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Trading Down 2.1%

Shares of MYGN stock opened at $4.29 on Friday. Myriad Genetics, Inc. has a 1-year low of $3.76 and a 1-year high of $15.18. The company has a market cap of $399.87 million, a price-to-earnings ratio of -0.99 and a beta of 1.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.33 and a quick ratio of 2.12. The stock has a 50 day simple moving average of $5.83 and a 200-day simple moving average of $6.63.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MYGN shares. Piper Sandler lowered their price target on shares of Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. UBS Group boosted their price objective on Myriad Genetics from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Myriad Genetics in a report on Monday, December 29th. Wells Fargo & Company lifted their price target on Myriad Genetics from $6.00 to $6.50 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Finally, TD Cowen reissued a “hold” rating on shares of Myriad Genetics in a report on Tuesday, November 4th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.44.

About Myriad Genetics

Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual’s risk for various hereditary conditions and to guide personalized treatment decisions. The company’s core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women’s health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.