Myriad Genetics (NASDAQ:MYGN) Posts Earnings Results, Misses Estimates By $0.22 EPS

Myriad Genetics (NASDAQ:MYGN) posted its quarterly earnings results on Thursday. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.22), FiscalAI reports. The company had revenue of $190.70 million for the quarter, compared to the consensus estimate of $206.03 million. Myriad Genetics had a negative net margin of 48.24% and a negative return on equity of 8.51%. Myriad Genetics’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.

Here are the key takeaways from Myriad Genetics’ conference call:

• Q2 revenue fell 11% year over year to $190.7 million, as a 1% volume decline and a 9% decrease in revenue per test offset growth in hereditary cancer and mental health testing. The company also recorded an approximately $11 million revenue headwind, including a $4 million aged-receivables write-off.
• Myriad lowered 2026 revenue guidance to $770 million–$790 million and gross-margin guidance to 66%–67%, citing weaker prenatal volumes and reimbursement pressure in hereditary cancer testing. Management suspended adjusted EBITDA guidance because the timing and impact of its restructuring and efficiency initiatives remain uncertain.
• The Cancer Care Continuum showed solid underlying demand, with hereditary cancer volume up 8% and MyRisk volume up 10% year over year; mental-health testing volume also increased 4%. Myriad said it is addressing payer friction through improved prior-authorization, documentation, denial-management, and AI-enabled revenue-cycle workflows.
• Myriad advanced several growth initiatives, including the launch of Prolaris+ AI, expanded availability of Precise MRD for breast, colorectal, and renal cancers, and the commercial launch of FirstGene prenatal screening. The company remains on track for a broader Precise MRD commercial launch in 2027 and has hired and deployed more than 100 new account executives to support future growth.
• The company launched the Ascend initiative and a broader portfolio review to simplify operations, improve scalability, and focus capital on higher-value opportunities, with management expecting meaningful benefits in 2027 and beyond. Myriad ended the quarter with approximately $190 million of available liquidity but reported a $16.9 million adjusted EBITDA loss.

Myriad Genetics Trading Up 6.5%

MYGN stock traded up $0.33 on Thursday, reaching $5.37. The company’s stock had a trading volume of 2,042,605 shares, compared to its average volume of 1,566,524. The firm has a market cap of $507.20 million, a PE ratio of -1.25 and a beta of 1.64. The business has a fifty day simple moving average of $5.08 and a two-hundred day simple moving average of $4.96. Myriad Genetics has a 12-month low of $3.53 and a 12-month high of $8.59. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.19 and a current ratio of 2.40.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. TD Cowen decreased their price target on shares of Myriad Genetics from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Wells Fargo & Company lowered their price target on shares of Myriad Genetics from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. Finally, Weiss Ratings raised shares of Myriad Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.50.

Insiders Place Their Bets

In other news, Director Rashmi Kumar sold 15,000 shares of Myriad Genetics stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $4.46, for a total transaction of $66,900.00. Following the sale, the director owned 171,889 shares of the company’s stock, valued at approximately $766,624.94. The trade was a 8.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Bisaro purchased 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $3.69 per share, with a total value of $27,675.00. Following the completion of the purchase, the director owned 97,441 shares of the company’s stock, valued at $359,557.29. This represents a 8.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Myriad Genetics

A number of hedge funds have recently made changes to their positions in the stock. Millennium Management LLC grew its position in Myriad Genetics by 41.1% in the 4th quarter. Millennium Management LLC now owns 6,700,158 shares of the company’s stock worth $41,206,000 after purchasing an additional 1,951,831 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Myriad Genetics by 157.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,442,912 shares of the company’s stock valued at $17,662,000 after purchasing an additional 1,492,405 shares during the period. Kent Lake PR LLC bought a new stake in shares of Myriad Genetics during the 2nd quarter valued at about $6,638,000. Federated Hermes Inc. increased its position in shares of Myriad Genetics by 103,916.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,122,333 shares of the company’s stock valued at $5,960,000 after purchasing an additional 1,121,254 shares during the last quarter. Finally, State Street Corp increased its position in shares of Myriad Genetics by 19.9% during the 4th quarter. State Street Corp now owns 5,966,567 shares of the company’s stock valued at $36,694,000 after purchasing an additional 990,075 shares during the last quarter. 99.02% of the stock is owned by institutional investors.

About Myriad Genetics

Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual’s risk for various hereditary conditions and to guide personalized treatment decisions. The company’s core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women’s health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.