Myriad GeneticsMYGN
Market Cap: $2.45B
About: Myriad Genetics is a molecular diagnostics company that provides testing services designed to assess an individual's risk of developing a disease. The firm produces MyRisk, a 48-gene panel with the capability to identify the elevated risk of developing 11 types of cancer. Other diagnostic products include BRACAnalysis CDx, the FDA-approved companion diagnostic for PARP inhibitors; GeneSight, which helps improve responses to psychotropic drugs for patients suffering from depression; and Prequel, a noninvasive prenatal test. Precise Oncology Solutions, launched in 2022, combines Precise Tumor with companion diagnostic and prognostic tests such as MyChoice CDx, Prolaris, and EndoPredict. The firm offers biomarker discovery and companion diagnostic services to pharma and biotech companies.
Employees: 2,700
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
206% more first-time investments, than exits
New positions opened: 52 | Existing positions closed: 17
56% more call options, than puts
Call options by funds: $4.84M | Put options by funds: $3.1M
19% more funds holding
Funds holding: 186 [Q1] → 221 (+35) [Q2]
17% more repeat investments, than reductions
Existing positions increased: 74 | Existing positions reduced: 63
11% more capital invested
Capital invested by funds: $2.04B [Q1] → $2.26B (+$220M) [Q2]
0% more funds holding in top 10
Funds holding in top 10: 1 [Q1] → 1 (+0) [Q2]
4.32% less ownership
Funds ownership: 106.27% [Q1] → 101.95% (-4.32%) [Q2]
Research analyst outlook
6 Wall Street Analysts provided 1 year price targets over the past 3 months
6 analyst ratings
Wells Fargo Brandon Couillard 36% 1-year accuracy 4 / 11 met price target | 30%upside $35 | Overweight Initiated | 27 Aug 2024 |
Scotiabank Sung Ji Nam 50% 1-year accuracy 7 / 14 met price target | 26%upside $34 | Sector Outperform Maintained | 13 Aug 2024 |
Piper Sandler John Peterson 0 / 0 met price target | 11%upside $30 | Neutral Maintained | 13 Aug 2024 |
TD Cowen Dan Brennan 61% 1-year accuracy 17 / 28 met price target | 11%upside $30 | Hold Maintained | 7 Aug 2024 |
JP Morgan Rachel Vatnsdal 56% 1-year accuracy 15 / 27 met price target | 26%downside $20 | Underweight Maintained | 7 Aug 2024 |
Financial journalist opinion
Based on 4 articles about MYGN published over the past 30 days