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

Myriad Genetics (NASDAQ:MYGN) released its earnings results on Thursday. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.22), FiscalAI reports. Myriad Genetics had a negative return on equity of 8.51% and a negative net margin of 48.24%.The business had revenue of $190.70 million for the quarter, compared to analysts’ expectations of $206.03 million. During the same quarter in the prior year, the business posted $0.05 EPS. The business’s revenue for the quarter 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 Up 6.5%

Shares of Myriad Genetics stock traded up $0.33 on Thursday, reaching $5.37. The stock had a trading volume of 2,042,605 shares, compared to its average volume of 1,566,524. 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 stock has a market capitalization of $507.20 million, a P/E ratio of -1.25 and a beta of 1.64. The company has a 50 day moving average price of $5.08 and a 200 day moving average price of $4.96. Myriad Genetics has a 1 year low of $3.53 and a 1 year high of $8.59.

Insider Buying and Selling at Myriad Genetics

In other news, Director Paul Bisaro purchased 7,500 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were acquired at an average cost of $3.69 per share, with a total value of $27,675.00. Following the completion of the acquisition, the director owned 97,441 shares of the company’s stock, valued at $359,557.29. This trade represents a 8.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rashmi Kumar sold 15,000 shares of the 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 sale, the director owned 171,889 shares of the company’s stock, valued at approximately $766,624.94. This 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 currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its position in 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 buying an additional 1,951,831 shares during the period. Jacobs Levy Equity Management Inc. grew 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 valued at $17,662,000 after acquiring an additional 1,492,405 shares during the period. Kent Lake PR LLC purchased a new position in shares of Myriad Genetics in the 2nd quarter valued at about $6,638,000. Federated Hermes Inc. raised its holdings in Myriad Genetics by 103,916.0% in 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 boosted its position in Myriad Genetics by 19.9% during the fourth 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 in the last quarter. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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