Myriad Genetics (NASDAQ:MYGN) Releases Quarterly Earnings Results, Misses Estimates By $0.19 EPS

Myriad Genetics (NASDAQ:MYGN) issued its quarterly earnings results on Thursday. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.19), FiscalAI reports. Myriad Genetics had a negative net margin of 13.96% and a negative return on equity of 15.47%. The company had revenue of $190.70 million during the quarter, compared to analysts’ expectations of $206.03 million. During the same period in the prior year, the business posted $0.05 earnings per share. The company’s quarterly revenue was down 10.5% compared to the same quarter last year.

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 Stock Down 46.7%

Myriad Genetics stock traded down $2.51 during midday trading on Friday, reaching $2.86. The company’s stock had a trading volume of 15,100,119 shares, compared to its average volume of 966,923. The company has a market cap of $270.12 million, a P/E ratio of -2.40 and a beta of 1.64. 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 business has a 50-day simple moving average of $5.09 and a 200-day simple moving average of $4.93. Myriad Genetics has a fifty-two week low of $2.81 and a fifty-two week high of $8.59.

Insider Transactions at Myriad Genetics

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

Institutional Trading of Myriad Genetics

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wells Fargo & Company dropped 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 research note on Wednesday, May 6th. TD Cowen lowered their price objective on shares of Myriad Genetics from $6.00 to $4.00 and set a “hold” rating for the company in a research report on Friday. Finally, Weiss Ratings downgraded Myriad Genetics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Myriad Genetics has an average rating of “Hold” and an average target price of $6.00.

Key Myriad Genetics News

Here are the key news stories impacting Myriad Genetics this week:

• Positive Sentiment: Management is implementing initiatives focused on improving efficiency, productivity and scalability. Myriad is also engaging with payers and pursuing revenue-cycle changes intended to make reimbursement more predictable and improve performance over time. Myriad Genetics second-quarter financial results
• Neutral Sentiment: On the earnings call, management discussed efforts to improve reimbursement, operating efficiency and the scalability of the business. Investors will likely look for evidence that these initiatives can stabilize revenue and margins in upcoming quarters. Myriad Genetics Q2 2026 earnings call transcript
• Negative Sentiment: Second-quarter revenue fell 11% year over year to $190.7 million, missing the $206.0 million consensus estimate. Volume declined 1%, while average revenue per test dropped 9%, indicating pressure on both demand and pricing or reimbursement. Myriad Genetics Q2 loss and revenue miss
• Negative Sentiment: Myriad reported a loss of $0.25 per share versus the expected loss of $0.03 and $0.05 earnings per share a year earlier. The company also posted an operating loss, a negative net margin and negative return on equity, highlighting continued profitability challenges.
• Negative Sentiment: Full-year 2026 revenue guidance was reduced to approximately $770 million-$790 million, well below the roughly $862.7 million analyst consensus. TD Cowen maintained a Hold rating but lowered its price target to $4, reflecting diminished near-term expectations. TD Cowen rating and price target

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.