Jennison Associates LLC Invests $662,000 in Myriad Genetics, Inc. (NASDAQ:MYGN)

Jennison Associates LLC acquired 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 SEC. The fund acquired 24,162 shares of the company’s stock, valued at approximately $662,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MYGN. Hexagon Capital Partners LLC increased its position in shares of Myriad Genetics by 75.3% during the second quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock worth $28,000 after purchasing an additional 491 shares in the last quarter. Innealta Capital LLC purchased a new position in Myriad Genetics during the 2nd quarter worth $36,000. GAMMA Investing LLC increased its position in Myriad Genetics by 34.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after buying an additional 412 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Myriad Genetics in the second quarter valued at about $60,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Myriad Genetics in the second quarter worth about $82,000. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Insider Buying and Selling at Myriad Genetics

In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total value of $1,286,035.40. Following the completion of the transaction, the director now owns 42,533 shares in the company, valued at approximately $1,188,797.35. This represents a 51.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Paul J. Diaz sold 15,000 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $22.93, for a total value of $343,950.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,012 shares of company stock valued at $1,900,485. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MYGN shares. JPMorgan Chase & Co. upped their price objective on shares of Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Morgan Stanley cut their price target on shares of 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. TD Cowen raised their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Piper Sandler dropped their price objective on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Myriad Genetics currently has a consensus rating of “Hold” and an average price target of $27.36.

Myriad Genetics Stock Up 2.4 %

Shares of MYGN opened at $15.49 on Friday. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -11.92 and a beta of 1.93. Myriad Genetics, Inc. has a 52 week low of $14.72 and a 52 week high of $29.30. The stock’s 50-day moving average price is $22.26 and its 200-day moving average price is $24.48. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05.

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.