Point72 Asia Singapore Pte. Ltd. Has $132,000 Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Point72 Asia Singapore Pte. Ltd. boosted its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN) by 43.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,833 shares of the company’s stock after purchasing an additional 1,471 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Myriad Genetics were worth $132,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. State of New Jersey Common Pension Fund D acquired a new stake in Myriad Genetics in the 3rd quarter valued at $1,965,000. Legato Capital Management LLC bought a new position in Myriad Genetics during the 2nd quarter valued at $1,123,000. Assenagon Asset Management S.A. lifted its stake in Myriad Genetics by 26.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 250,524 shares of the company’s stock valued at $6,128,000 after acquiring an additional 52,813 shares in the last quarter. Maven Securities LTD bought a new position in Myriad Genetics during the 2nd quarter valued at $1,223,000. Finally, Tidal Investments LLC bought a new position in Myriad Genetics during the 1st quarter valued at $606,000. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Stock Performance

Shares of MYGN stock opened at $16.36 on Friday. Myriad Genetics, Inc. has a 12 month low of $14.72 and a 12 month high of $29.30. The stock has a market capitalization of $1.49 billion, a P/E ratio of -12.58 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 firm’s 50 day moving average is $20.46 and its 200 day moving average is $24.00.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several brokerages have weighed in on MYGN. Morgan Stanley dropped their price objective on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Wells Fargo & Company started coverage on Myriad Genetics in a research note on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price objective on the stock. Piper Sandler lowered their target price on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. StockNews.com cut Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Scotiabank lifted their target price on Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Myriad Genetics presently has an average rating of “Hold” and an average target price of $27.36.

Myriad Genetics 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.