Iron Triangle Partners LP Invests $11.01 Million in Myriad Genetics, Inc. (NASDAQ:MYGN)

Iron Triangle Partners LP acquired a new position in Myriad Genetics, Inc. (NASDAQ:MYGN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 401,859 shares of the company’s stock, valued at approximately $11,007,000. Myriad Genetics comprises 1.5% of Iron Triangle Partners LP’s investment portfolio, making the stock its 22nd biggest holding.

Other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in Myriad Genetics by 13.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 53,568 shares of the company’s stock valued at $1,143,000 after purchasing an additional 6,337 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Myriad Genetics by 3.0% in the 1st quarter. California State Teachers Retirement System now owns 88,787 shares of the company’s stock valued at $1,893,000 after purchasing an additional 2,564 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Myriad Genetics during the first quarter valued at approximately $606,000. DekaBank Deutsche Girozentrale lifted its position in Myriad Genetics by 9.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 35,272 shares of the company’s stock worth $751,000 after purchasing an additional 2,980 shares during the period. Finally, Clarus Wealth Advisors acquired a new stake in shares of Myriad Genetics in the second quarter worth $247,000. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MYGN shares. Piper Sandler reduced their price objective on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Scotiabank lifted their price objective on shares of Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 13th. Wells Fargo & Company assumed coverage on shares of Myriad Genetics in a research report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price target on the stock. TD Cowen lifted their price objective on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. Two 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $27.36.

Myriad Genetics Price Performance

Myriad Genetics stock opened at $16.69 on Tuesday. The business’s 50 day simple moving average is $21.06 and its 200 day simple moving average is $24.17. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. Myriad Genetics, Inc. has a 12 month low of $14.72 and a 12 month high of $29.30. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -12.84 and a beta of 1.88.

Insider Activity at Myriad Genetics

In other news, Director Heinrich Dreismann sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $27.05, for a total value of $270,500.00. Following the sale, the director now directly owns 121,648 shares in the company, valued at approximately $3,290,578.40. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul J. Diaz sold 15,000 shares of the 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 approximately $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. 2.10% of the stock is owned by corporate insiders.

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.