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

Iron Triangle Partners LP purchased a new stake in Myriad Genetics, Inc. (NASDAQ:MYGN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 401,859 shares of the company’s stock, valued at approximately $11,007,000. Myriad Genetics makes up about 1.5% of Iron Triangle Partners LP’s portfolio, making the stock its 22nd largest holding. Iron Triangle Partners LP owned approximately 0.44% of Myriad Genetics at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MYGN. Hexagon Capital Partners LLC lifted its position in Myriad Genetics by 75.3% during the second quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock valued at $28,000 after purchasing an additional 491 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Myriad Genetics in the third quarter valued at approximately $32,000. Innealta Capital LLC purchased a new position in Myriad Genetics during the 2nd quarter worth approximately $36,000. GAMMA Investing LLC grew its holdings 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 purchasing an additional 412 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of Myriad Genetics during the 2nd quarter worth approximately $60,000. 99.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. 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. StockNews.com lowered shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. TD Cowen increased their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley decreased their price objective on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $27.36.

Myriad Genetics Stock Performance

NASDAQ:MYGN opened at $16.69 on Tuesday. The company has a market cap of $1.52 billion, a P/E ratio of -12.84 and a beta of 1.88. Myriad Genetics, Inc. has a fifty-two week low of $14.72 and a fifty-two week high of $29.30. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $21.06 and its two-hundred day moving average is $24.17.

Insider Buying and Selling

In related news, CEO Paul J. Diaz sold 15,000 shares of Myriad Genetics stock in a transaction that occurred 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. The trade was a 1.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Heinrich Dreismann sold 10,000 shares of the business’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 value of $270,500.00. Following the sale, the director now owns 121,648 shares of the company’s stock, valued at approximately $3,290,578.40. This represents a 7.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

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.