Simplify Asset Management Inc. Makes New $4.76 Million Investment in Myriad Genetics, Inc. (NASDAQ:MYGN)

Simplify Asset Management Inc. bought a new position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) in the third quarter, Holdings Channel.com reports. The institutional investor bought 173,626 shares of the company’s stock, valued at approximately $4,756,000.

Several other large investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its holdings in Myriad Genetics by 90.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,805 shares of the company’s stock valued at $188,000 after purchasing an additional 4,193 shares during the period. Texas Permanent School Fund Corp lifted its stake in Myriad Genetics by 1.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 77,485 shares of the company’s stock valued at $1,652,000 after buying an additional 889 shares in the last quarter. Swiss National Bank boosted its holdings in Myriad Genetics by 8.2% in the 1st quarter. Swiss National Bank now owns 174,700 shares of the company’s stock worth $3,725,000 after buying an additional 13,300 shares during the last quarter. ProShare Advisors LLC increased its stake in Myriad Genetics by 14.2% during the 1st quarter. ProShare Advisors LLC now owns 23,993 shares of the company’s stock worth $512,000 after buying an additional 2,990 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of Myriad Genetics by 8.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 25,107 shares of the company’s stock valued at $583,000 after acquiring an additional 2,050 shares in the last quarter. 99.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MYGN. StockNews.com upgraded Myriad Genetics from a “hold” rating to a “buy” rating in a report on Tuesday. Scotiabank raised 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. Piper Sandler decreased their target price on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday. 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 for the company. Finally, Morgan Stanley assumed coverage on shares of Myriad Genetics in a research report on Thursday, September 19th. They set an “equal weight” rating and a $32.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $28.36.

Insider Buying and Selling

In related news, Director Heinrich Dreismann sold 10,000 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 121,648 shares of the company’s stock, valued at approximately $3,290,578.40. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Colleen F. Reitan sold 46,012 shares of Myriad Genetics stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total value of $1,286,035.40. Following the sale, the director now owns 42,533 shares in the company, valued at $1,188,797.35. This represents a 51.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,012 shares of company stock worth $1,900,485. 2.10% of the stock is owned by corporate insiders.

Myriad Genetics Trading Down 2.8 %

Shares of MYGN traded down $0.44 on Friday, reaching $15.24. The stock had a trading volume of 149,472 shares, compared to its average volume of 736,429. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. Myriad Genetics, Inc. has a twelve month low of $15.21 and a twelve month high of $29.30. The firm has a 50-day moving average of $23.66 and a 200 day moving average of $24.63.

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.