Edgestream Partners L.P. Invests $1.53 Million in Myriad Genetics, Inc. (NASDAQ:MYGN)

Edgestream Partners L.P. acquired a new position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 55,842 shares of the company’s stock, valued at approximately $1,530,000. Edgestream Partners L.P. owned about 0.06% of Myriad Genetics at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC lifted its position in shares of Myriad Genetics by 75.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock worth $28,000 after buying an additional 491 shares during the last quarter. Innealta Capital LLC acquired a new position in Myriad Genetics during the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC grew its stake in Myriad Genetics by 34.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock worth $44,000 after buying an additional 412 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Myriad Genetics in the second quarter worth $60,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Myriad Genetics in the second quarter valued at $82,000. Institutional investors and hedge funds own 99.02% of the company’s stock.

Insider Transactions at Myriad Genetics

In related news, CEO Paul J. Diaz sold 15,000 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the transaction, the chief executive officer now owns 962,378 shares in the company, valued at $22,067,327.54. This trade represents a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Heinrich Dreismann sold 10,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $27.05, for a total value of $270,500.00. Following the sale, the director now owns 121,648 shares in the company, valued at approximately $3,290,578.40. The trade was a 7.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Myriad Genetics Stock Down 2.8 %

MYGN stock opened at $16.23 on Wednesday. Myriad Genetics, Inc. has a 12 month low of $14.72 and a 12 month high of $29.30. The firm has a 50 day simple moving average of $20.85 and a 200 day simple moving average of $24.11. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. StockNews.com downgraded Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Wells Fargo & Company began coverage on Myriad Genetics in a research note on Tuesday, August 27th. They set an “overweight” rating and a $35.00 target price on the stock. TD Cowen increased their price target on Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler reduced their price objective on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.36.

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.