Exploring Myriad Genetics, Inc. (MYGN) Investor Profile: Who’s Buying and Why?

You're looking at Myriad Genetics, Inc. (MYGN) and asking the right question: with a stock price that has seen volatility, who is defintely buying and why are they sticking around? The answer is simple: it's the big money, the institutional players, who now own a staggering 99.41% of the company's shares as of September 2025, up from 97.76% just a month prior. Firms like BlackRock, Inc. and Vanguard Group Inc. are the top holders, with BlackRock alone holding nearly 14.9 million shares as of the end of Q3 2025, which tells you this isn't a retail-driven story. These seasoned investors are looking past the GAAP net loss of $27.4 million in Q3 2025 and focusing on the underlying operational strength, specifically the 11% year-over-year volume growth in hereditary cancer testing and the positive adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of $10.3 million for the quarter. Plus, management is guiding for full-year 2025 revenue of around $823 million, so the narrative is a turnaround story anchored in core product execution. Are they betting on the genetic testing market's long-term promise, or is this a deep-value play on a company finally executing its strategy?

Who Invests in Myriad Genetics, Inc. (MYGN) and Why?

If you're looking at Myriad Genetics, Inc. (MYGN), you're not alone; the investor base is dominated by large, sophisticated institutions. The direct takeaway is that this is a highly institutionally-owned stock, meaning the big money sees a clear-cut turnaround or growth story in the molecular diagnostics space, despite the recent stock price volatility.

The ownership structure tells a clear story: a massive 91.2% to 97.12% of Myriad Genetics, Inc.'s shares are held by institutions, which is very high for a company of this size. This leaves a small float for retail investors and limits insider ownership to a range of about 2.64% to 9.28%. This high concentration means the stock's price movements are largely dictated by the buying and selling decisions of a few hundred large funds, not the general public.

Here's the breakdown of who is holding the approximately 93.21 million shares outstanding as of late 2025:

• Institutional Investors: These are the mutual funds, pension funds, and asset managers like BlackRock, Inc. and Vanguard Group Inc. They hold the vast majority of shares.
• Hedge Funds: These are the more active, risk-tolerant funds, including names like Millennium Management Llc and Glenview Capital Management, Llc, holding around 5.09% of the shares.
• Retail Investors: The individual investors, who hold a very small percentage, often following the lead of the institutional flow.

Investment Motivations: The Turnaround and Growth Play

Investors aren't buying Myriad Genetics, Inc. for dividends-the company is focused on reinvesting in growth and achieving sustained profitability, not returning capital through payouts right now. The motivation is purely capital appreciation, driven by the company's strategic pivot to the Cancer Care Continuum (CCC). Honestly, this is a classic growth-at-a-reasonable-price (GARP) or turnaround investment.

The core attraction is the transition from a legacy hereditary cancer testing business to a broader diagnostics leader. For the full fiscal year 2025, Myriad Genetics, Inc. is guiding for total revenue between $818 million and $828 million, with a midpoint of $823 million. More importantly, they are projecting positive adjusted EBITDA of $27 million to $33 million for the year, a clear sign of operational leverage kicking in. This is why the institutions are sticking around: they are betting on the successful execution of this strategy.

Key drivers attracting this capital include:

• Volume Growth: Test volumes are up, notably 11% year-over-year in hereditary cancer testing in Q3 2025, showing market demand is strong for their core products.
• New Product Pipeline: Future growth is tied to launches like the updated MyRisk Hereditary Cancer Test and the Precise MRD assay for breast cancer in 2026.
• Financial Discipline: Achieving a Q3 2025 adjusted EBITDA of $10.3 million and a strong gross margin of 69.9% shows management is serious about profitable scaling.

If you want a deeper dive into the numbers behind this strategy, you should check out Breaking Down Myriad Genetics, Inc. (MYGN) Financial Health: Key Insights for Investors.

Investment Strategies: Long-Term Holders vs. Active Traders

The strategies employed by Myriad Genetics, Inc.'s diverse investor base reflect the stock's current position as a volatile, mid-cap growth story that's still in the middle of a strategic shift. You see three main strategies at play here.

Passive/Long-Term Holding: This is the dominant strategy, driven by index funds and large mutual funds like Vanguard Group Inc. and BlackRock, Inc. They hold Myriad Genetics, Inc. because it's a component of small-cap and mid-cap growth indices. They are essentially permanent owners, providing a stable floor of demand. Their horizon is decades, so near-term earnings bumps like the Q3 2025 adjusted EPS of $0.00 don't change their position much.

Value/Turnaround Investing: This strategy is for investors who see the recent stock price decline of over 58% in the last 52 weeks as an opportunity. They believe the market is undervaluing the future cash flow from the Cancer Care Continuum strategy. These investors are looking for the company to hit its full-year revenue guidance midpoint of $823 million and then accelerate growth in 2026, which would re-rate the stock higher. They are buying the 'mispriced' asset.

Short-Term/Event-Driven Trading: Hedge funds and other active traders use this strategy. They are focused on specific events, like the Q3 2025 earnings beat on adjusted EBITDA or the news of the strategic collaboration with SOPHiA GENETICS. They may trade around the volatility, which is high given the stock's beta of 1.81. This group is defintely focused on the news flow around new product launches and reimbursement updates, looking for quick gains as the company executes its plan.

The action item here is to track the performance of the $370 million hereditary cancer testing business, which is the cash engine funding the new growth initiatives. If that core business falters, the whole turnaround thesis is at risk.

Institutional Ownership and Major Shareholders of Myriad Genetics, Inc. (MYGN)

You want to know who is really calling the shots at Myriad Genetics, Inc. (MYGN), and the answer is clear: it's the institutions. As of the end of the third quarter of 2025, institutional investors collectively owned a staggering 99.41% of the company's stock, meaning the vast majority of shares are held by major financial players like asset managers and hedge funds, not individual retail investors.

This high level of institutional ownership, with a total value of holdings around $612 million, tells you that Myriad Genetics, Inc. is a stock heavily scrutinized by professional money managers. These investors are essentially betting on the long-term success of the company's molecular diagnostic testing and precision medicine portfolio, especially its focus on the Cancer Care Continuum.

Top Institutional Investors: Who's Holding the Largest Stakes?

The list of top holders reads like a who's who of global asset management, which is typical for a company with a market capitalization like Myriad Genetics, Inc. These firms represent trillions of dollars in managed assets, so their positions here are significant, even if they are small allocations for their overall funds. The largest shareholders are primarily passive index funds and large active managers.

Here is a snapshot of the largest institutional owners based on their most recent 13F filings, generally as of September 30, 2025:

The two largest holders, BlackRock, Inc. and Vanguard Group Inc, are mainly driven by their index funds-they have to buy and hold shares because Myriad Genetics, Inc. is a component of the indices their funds track, like the iShares Core S&P Small-Cap ETF (IJR) or the Vanguard Total Stock Market Index Fund. This is a defintely a passive investment, not a conviction play.

Recent Shifts in Ownership: Are Funds Buying or Selling?

The recent ownership data shows a mixed, but telling, pattern. While the overall institutional ownership percentage actually increased slightly to 99.41% in September 2025, the activity among the largest individual holders suggests some repositioning.

You see a clear dichotomy: some of the largest passive holders, like Vanguard Group Inc, significantly reduced their stake by 14.85% in a filing dated October 2025, and BlackRock, Inc. also trimmed its position. But, other institutions, including State Street Corp, increased their holdings by over 166,543 shares in the same period, indicating active managers or other funds see a buying opportunity. This churn suggests disagreement on the stock's near-term value, even as the overall institutional commitment remains near 100%.

• Monitor the index funds for forced selling.
• Look for active managers increasing their stakes.
• High institutional ownership can mean less trading volatility.

Impact of Institutional Investors on Stock and Strategy

Institutional investors play a critical role, acting as a massive floor for the stock price and a powerful voice on corporate strategy. Their sheer size means their buying and selling moves the market. For example, when Myriad Genetics, Inc. reported its Q3 2025 results-revenue of $205.7 million, a 4% year-over-year decrease-the stock still rose by 1.74% in aftermarket trading. This positive reaction was directly tied to institutional investor sentiment, as they focused less on the revenue dip and more on the strong test volume growth (like hereditary cancer testing volume up 11% year-over-year) and the strategic pivot toward the Cancer Care Continuum.

These large holders essentially validate the company's strategic direction, such as the collaboration with SOPHiA GENETICS for a liquid biopsy solution. When institutions buy, it signals confidence in the management team's ability to execute its plan to return to revenue growth, despite facing pricing pressures. Here's the quick math: if a few large funds decide the stock is undervalued, their collective buying power can easily absorb selling pressure from smaller investors. For a deeper dive into the company's business model, you can check out Myriad Genetics, Inc. (MYGN): History, Ownership, Mission, How It Works & Makes Money.

The key takeaway is that their focus isn't on the quarter-to-quarter noise, but on the long-term potential of Myriad Genetics, Inc.'s pipeline, like the planned launch of an updated MyRisk Hereditary Cancer Test in Q4 2025. Their continued, near-total ownership is a vote of confidence in the company's strategic transformation.

Key Investors and Their Impact on Myriad Genetics, Inc. (MYGN)

If you're looking at Myriad Genetics, Inc. (MYGN), you need to know who's holding the stock, because institutional money-the big funds-drives nearly all the action here. The investor profile for Myriad Genetics, Inc. is overwhelmingly institutional, with these firms owning a commanding 97.12% of the company, according to recent data. This means the stock's movement is less about individual retail sentiment and more about the collective decisions of a few dozen large money managers.

The biggest players are the usual suspects in the asset management world, but their sheer size here gives them significant sway. These are not passive, small-time bets; they represent a deep conviction, or at least a mandate to track the market, in the molecular diagnostics space. The top institutional holders are a clear signal of where the smart money is positioned.

The Giants of Institutional Ownership

The top shareholders in Myriad Genetics, Inc. are dominated by the largest index and asset managers globally. These firms hold massive stakes, which translates directly into influence on the company's long-term strategy and short-term stock volatility. The concentration of ownership is high; the top 25 shareholders alone own over 75% of the company. It's a highly concentrated ownership structure.

As of the end of the third quarter of 2025 (September 30, 2025), the top three institutional holders were:

• BlackRock, Inc.: Holding approximately 14,879,427 shares.
• The Vanguard Group, Inc.: Holding approximately 7,882,515 shares.
• State Street Corp: Holding approximately 4,976,492 shares.

BlackRock, Inc.'s stake alone represents about 16% of the company's total shares outstanding, which was 93,213,722 as of October 31, 2025. This level of ownership means their trading decisions-even minor portfolio rebalancing-can create noticeable shifts in Myriad Genetics, Inc.'s stock price. To be fair, a large portion of this is passive indexing, but still, they are the anchor.

Recent Investor Moves and Strategic Impact

Looking at the most recent 13F filings (institutional ownership disclosures) for the third quarter of 2025, we see a mixed but telling picture. While institutional ownership overall increased to 99.41% of the available float in September 2025, some of the largest holders made slight reductions.

For example, BlackRock, Inc. trimmed its position by about -1.279%, and The Vanguard Group, Inc. sold 1,374,978 shares. This selling pressure from the passive giants can often be a drag on the stock. But, you also saw significant buying from others. State Street Corp added 166,543 shares, and Jacobs Levy Equity Management, Inc. made a substantial move, increasing its stake by over 1.49 million shares in the quarter. This tells me that while some index funds are adjusting, some active managers are seeing value in the current strategy.

The influence of these investors isn't just about buying and selling stock; it extends to corporate finance. A concrete example of this influence came in the second quarter of 2025 when Myriad Genetics, Inc. secured a $200 million term loan from OrbiMed, a well-known healthcare-focused investor. This action directly enhanced the company's financial flexibility and supported its growth strategy, showing how key investors provide capital that underpins the company's strategic shift toward a comprehensive cancer care continuum. The company is defintely repositioning, and this capital is key to that plan.

Mapping Investor Sentiment to Future Actions

The collective investor sentiment is currently focused on Myriad Genetics, Inc.'s ability to execute its new strategy, which aims for high single-digit to low double-digit revenue growth over the next few years. The full-year 2025 revenue guidance is tight, reaffirmed at $818 million to $828 million, with an adjusted earnings per share (EPS) range of a loss of $0.02 to a gain of $0.02. Here's the quick math: with over 93 million shares outstanding, hitting the positive end of that EPS guidance is crucial for maintaining institutional confidence.

The market is watching for traction in new products, like the planned launch of the Precise MRD assay, and the success of strategic partnerships, such as the one with SOPHiA GENETICS for liquid biopsy. The institutional investors are essentially betting on the management team's ability to turn test volume growth-like the 11% year-over-year increase in hereditary cancer testing volume in Q3 2025-into sustainable profitability. For a deeper dive into the company's business model, you can review Myriad Genetics, Inc. (MYGN): History, Ownership, Mission, How It Works & Makes Money.

The table below summarizes the core holdings and recent activity of the largest institutional investors as of the Q3 2025 reporting period (September 30, 2025):

What this estimate hides is the potential for an activist investor (a Schedule 13D filer) to emerge if the stock price, which was around $6.68/share in November 2025, continues to struggle despite the strategic shift. A passive investment (Schedule 13G) is one thing, but a large active holder could push for changes to accelerate profitability or divest non-core assets.

Market Impact and Investor Sentiment

You're looking at Myriad Genetics, Inc. (MYGN) and seeing a disconnect: high institutional ownership but a stock price that's been hammered. You're right to be cautious. The sentiment among major shareholders is best described as a high-stakes, qualified optimism-a belief in the long-term strategic pivot, but with clear near-term performance anxiety.

Institutional investors, the big money like BlackRock, Inc. and The Vanguard Group, Inc., effectively own the company. As of September 2025, institutional investors held an overwhelming 99.41% of the shares, up from 97.76% in August 2025. That level of concentration means the largest players dictate the stock's direction; they are fundamentally positive on the business's core value, even if the market price doesn't reflect it yet. BlackRock, Inc. alone held 14,879,427 shares as of September 30, 2025. That's a huge vote of confidence, but it's not a free pass.

• Institutional buying shows long-term conviction.
• High ownership means less retail volatility.
• The big funds are betting on the strategic shift.

The Stock Market's Mixed Message

The market reaction has been brutal over the past year, reflecting investor frustration with execution and revenue headwinds. The stock price as of November 11, 2025, was $6.68 per share, representing a sharp decline of 58.69% from the $16.17 price point a year earlier. That's a clear negative signal on past performance and a repricing of risk, especially following the full-year 2025 revenue guidance reduction earlier in the year.

But when the company shows progress, the market gives a small nod. For example, following the Q2 2025 earnings report, where Myriad Genetics, Inc. beat expectations and raised its full-year revenue guidance, the stock saw a modest 0.5% increase in aftermarket trading. This reaction shows that any positive news on profitability or the strategic pivot is met with immediate, albeit small, relief. Honestly, the market is looking for proof, not promises. The recent Q3 2025 results showed a healthy adjusted EBITDA of $10.3 million and a strong adjusted gross margin of 70.1%, which is a sign of good cost control, even with revenue falling 4% year-over-year to $205.7 million.

Analyst Consensus: Waiting for the Pivot to Pay Off

Myriad Genetics, Inc.'s strategic shift toward the cancer care continuum-moving beyond just hereditary cancer testing-is the key theme driving analyst perspectives. They are generally 'Holding' their breath. The consensus rating from 12 analysts as of November 15, 2025, is a 'Hold.' This isn't a 'Sell,' but it's defintely not a 'Buy,' either. It signals that the stock is fairly valued given the current risks and opportunities.

The average 12-month price target from 11 analysts is approximately $8.38, with a high target of $18.00 and a low of $4.00. This suggests a potential upside of about 24.89% from the current price, but the wide range shows how polarized the views are. The bulls are focused on the upcoming launch of the updated myRisk hereditary cancer panel in November 2025 and the Precise MRD assay in H1 2026, which are expected to drive future revenue. The bears worry about the execution risk of this ambitious plan and the ongoing revenue pressure from coverage changes, like those affecting the GeneSight test.

Here's a quick look at the 2025 guidance that's anchoring analyst models:

What this estimate hides is that hitting the top end of the revenue guidance requires a strong Q4, which depends on the success of the commercial investments. For a deeper dive into the company's foundational business, you can check out Myriad Genetics, Inc. (MYGN): History, Ownership, Mission, How It Works & Makes Money.