179,634 Shares in Myriad Genetics, Inc. (NASDAQ:MYGN) Acquired by Portolan Capital Management LLC

Portolan Capital Management LLC purchased a new position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 179,634 shares of the company’s stock, valued at approximately $4,920,000. Portolan Capital Management LLC owned approximately 0.20% of Myriad Genetics as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MYGN. Earnest Partners LLC grew its stake in shares of Myriad Genetics by 3.5% during the second quarter. Earnest Partners LLC now owns 4,072,018 shares of the company’s stock worth $99,602,000 after purchasing an additional 138,960 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Myriad Genetics by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,776,959 shares of the company’s stock worth $67,924,000 after buying an additional 75,445 shares during the last quarter. Sei Investments Co. boosted its position in shares of Myriad Genetics by 5.4% during the 2nd quarter. Sei Investments Co. now owns 2,417,192 shares of the company’s stock worth $59,125,000 after acquiring an additional 124,007 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in shares of Myriad Genetics by 153.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,189,601 shares of the company’s stock valued at $59,973,000 after acquiring an additional 1,326,497 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its position in shares of Myriad Genetics by 0.5% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,087,328 shares of the company’s stock worth $51,056,000 after acquiring an additional 10,035 shares in the last quarter. 99.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MYGN shares. Piper Sandler lowered their price target on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, November 11th. StockNews.com downgraded shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. boosted their price target on shares of Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. TD Cowen raised their price objective on Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company initiated coverage on Myriad Genetics in a report on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 target price for the company. Two 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’s stock. According to data from MarketBeat.com, Myriad Genetics currently has an average rating of “Hold” and an average target price of $27.36.

Myriad Genetics Stock Performance

Shares of MYGN 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 stock has a market cap of $1.48 billion, a P/E ratio of -12.48 and a beta of 1.87. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average of $20.64 and a two-hundred day moving average of $24.05.

Insider Transactions at Myriad Genetics

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

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 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.