BlackRock Trims Myriad Genetics Stake to 7.9%
Ticker: MYGN · Form: SC 13G/A · Filed: Jan 22, 2024 · CIK: 899923
| Field | Detail |
|---|---|
| Company | Myriad Genetics Inc (MYGN) |
| Form Type | SC 13G/A |
| Filed Date | Jan 22, 2024 |
| Risk Level | medium |
| Sentiment | mixed |
Complexity: simple
Sentiment: mixed
Topics: institutional-ownership, stake-change, amendment, SC-13G/A
TL;DR
**BlackRock cut its stake in Myriad Genetics to 7.9%, signaling a potential shift in institutional sentiment.**
AI Summary
BlackRock, Inc. filed an amended Schedule 13G/A on January 22, 2024, indicating its ownership of 6,868,793 shares of MYRIAD GENETICS INC Common Stock as of December 31, 2023. This represents a 7.9% stake in the company, a decrease from its previous reported ownership. This matters to investors because BlackRock is a major institutional investor, and a reduction in their stake could signal a shift in their outlook on Myriad Genetics' future performance or valuation.
Why It Matters
A decrease in BlackRock's ownership of MYRIAD GENETICS INC shares could be interpreted by the market as a loss of confidence from a major institutional investor, potentially influencing other investors' decisions.
Risk Assessment
Risk Level: medium — While not a massive sell-off, a reduction in a significant institutional holding like BlackRock's can introduce uncertainty and potentially downward pressure on the stock.
Analyst Insight
A smart investor would monitor MYRIAD GENETICS INC's stock performance and news for any further institutional selling or buying trends, and research the underlying reasons for BlackRock's reduced stake before making investment decisions.
Key Numbers
- 6,868,793 — Shares Owned (BlackRock's total beneficial ownership of Myriad Genetics Common Stock.)
- 7.9% — Ownership Percentage (The percentage of Myriad Genetics' Common Stock owned by BlackRock, indicating a decrease from previous filings.)
- December 31, 2023 — Reporting Date (The snapshot date for the ownership data reported in the filing.)
Key Players & Entities
- BlackRock, Inc. (company) — the reporting person and institutional investor
- MYRIAD GENETICS INC (company) — the subject company whose stock is being reported
- 6,868,793 (dollar_amount) — number of shares of Common Stock beneficially owned by BlackRock
- 7.9% (dollar_amount) — percentage of the class of MYRIAD GENETICS INC shares owned by BlackRock
- December 31, 2023 (date) — the date of the event requiring this filing
Forward-Looking Statements
- Myriad Genetics' stock price may experience short-term volatility due to the perceived institutional sentiment shift. (MYRIAD GENETICS INC) — medium confidence, target: Q1 2024
- Other institutional investors might re-evaluate their positions in Myriad Genetics following BlackRock's reduced stake. (MYRIAD GENETICS INC) — low confidence, target: Q2 2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No: 3) to a Schedule 13G, filed by BlackRock, Inc. to report its beneficial ownership of Common Stock in MYRIAD GENETICS INC as of December 31, 2023, under Rule 13d-1(b).
Who is the reporting person in this filing?
The reporting person is BlackRock, Inc., a major institutional investment manager, identified by CIK 0001364742.
What is the subject company of this filing?
The subject company is MYRIAD GENETICS INC, identified by CIK 0000899923, whose Common Stock is being reported.
How many shares of MYRIAD GENETICS INC Common Stock does BlackRock, Inc. beneficially own according to this filing?
BlackRock, Inc. beneficially owns 6,868,793 shares of MYRIAD GENETICS INC Common Stock as of December 31, 2023.
What percentage of MYRIAD GENETICS INC's Common Stock does BlackRock, Inc. own?
BlackRock, Inc. owns 7.9% of the class of MYRIAD GENETICS INC's Common Stock, as reported on the cover page of the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 22, 2024 regarding MYRIAD GENETICS INC (MYGN).