Disciplined Growth Investors Inc. MN Purchases 440,107 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Disciplined Growth Investors Inc. MN raised its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 21.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,527,435 shares of the company’s stock after acquiring an additional 440,107 shares during the period. Myriad Genetics makes up approximately 1.3% of Disciplined Growth Investors Inc. MN’s holdings, making the stock its 26th biggest holding. Disciplined Growth Investors Inc. MN owned 2.78% of Myriad Genetics worth $69,226,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new stake in shares of Myriad Genetics during the 3rd quarter valued at $32,000. Innealta Capital LLC acquired a new position in Myriad Genetics during the 2nd quarter valued at about $36,000. GAMMA Investing LLC raised its stake in Myriad Genetics by 34.1% in the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $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 about $60,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Myriad Genetics during the second quarter worth about $82,000. 99.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on MYGN. StockNews.com lowered shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Morgan Stanley decreased their price target on shares of Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. Leerink Partners lowered shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $30.00 to $21.00 in a report on Monday. Piper Sandler cut their target price on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Finally, Wells Fargo & Company initiated coverage on Myriad Genetics in a research report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $26.09.

Insider Activity 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 shares were 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 of the company’s stock, valued at approximately $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 hyperlink. 2.10% of the stock is owned by company insiders.

Myriad Genetics Stock Performance

NASDAQ MYGN opened at $14.88 on Tuesday. Myriad Genetics, Inc. has a fifty-two week low of $14.34 and a fifty-two week high of $29.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The firm has a market capitalization of $1.35 billion, a P/E ratio of -11.45 and a beta of 1.88. The stock has a 50-day simple moving average of $19.78 and a two-hundred day simple moving average of $23.81.

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.