Myriad Genetics (NASDAQ:MYGN) Releases Earnings Results, Misses Expectations By $0.22 EPS

Myriad Genetics (NASDAQ:MYGN) issued its earnings results on Thursday. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.22), FiscalAI reports. The business had revenue of $190.70 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned $0.05 earnings per share.

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%

Shares of Myriad Genetics stock traded up $0.33 during mid-day trading on Thursday, hitting $5.37. The stock had a trading volume of 2,042,605 shares, compared to its average volume of 925,066. The firm has a market cap of $507.20 million, a P/E ratio of -1.25 and a beta of 1.64. Myriad Genetics has a 12-month low of $3.53 and a 12-month high of $8.59. The company has a quick ratio of 2.19, a current ratio of 2.40 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average of $5.11 and a two-hundred day moving average of $4.95.

Insider Buying and Selling at Myriad Genetics

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

Institutional Trading of Myriad Genetics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC increased its position in shares of Myriad Genetics by 41.1% during the fourth quarter. Millennium Management LLC now owns 6,700,158 shares of the company’s stock valued at $41,206,000 after acquiring an additional 1,951,831 shares during the last quarter. State Street Corp lifted its holdings in shares of Myriad Genetics by 19.9% in the 4th quarter. State Street Corp now owns 5,966,567 shares of the company’s stock worth $36,694,000 after acquiring an additional 990,075 shares during the last quarter. Glenview Capital Management LLC lifted its holdings in shares of Myriad Genetics by 17.6% in the 2nd quarter. Glenview Capital Management LLC now owns 4,587,407 shares of the company’s stock worth $24,359,000 after acquiring an additional 687,857 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position 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 worth $17,662,000 after purchasing an additional 1,492,405 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Myriad Genetics by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 2,231,292 shares of the company’s stock worth $13,725,000 after purchasing an additional 6,123 shares during the period. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on MYGN shares. Wells Fargo & Company cut their price objective on shares of Myriad Genetics from $6.00 to $5.50 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. TD Cowen dropped their price target on Myriad Genetics from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded Myriad Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.50.

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.