Myriad Genetics, Inc. (MYGN)

Myriad Genetics' stock has experienced notable events in the past six months. As of May 8, 2026, the stock was trading at $4.29, with a 52-week range of $3.75 to $8.59, decreasing by 30.2% since the beginning of 2026. In May 2026, the company reported its first-quarter 2026 financial results, which included a GAAP net loss of $34.1 million and an adjusted loss per share of $0.09, missing analyst expectations and leading to a stock sell-off. Despite the miss, management reaffirmed its full-year 2026 revenue guidance of $860-$880 million. The company also announced FDA approval in April 2026 for its MyChoice CDx test for prostate cancer patients in Japan. In March 2026, Myriad Genetics received FDA approval for the MyChoice CDx test as a companion diagnostic for Zejula for ovarian cancer patients and commercially launched Precise MRD with select community oncologists. In November 2025, the company reported its third-quarter 2025 financial results, with revenue of $205.7 million, a 4% decrease year-over-year, but flat when excluding certain headwinds, while hereditary cancer testing revenue and volume grew 3% and 11% year-over-year, respectively.

Myriad Genetics experiences seasonality in its testing business. The volume of testing is typically negatively impacted by the summer holiday season, which is generally reflected in the company's fiscal first quarter. Conversely, the fiscal second quarter is usually strong due to an increase in volume from patients who have met their annual insurance deductibles. The fiscal third quarter is typically negatively impacted by the annual reset of patient deductibles.

Myriad Genetics, Inc. is an American genetic testing and precision medicine company based in Salt Lake City, Utah, operating in the Healthcare sector, focusing on Molecular Diagnostics, Biotechnology, and Pharmaceutical Preparation Manufacturing. The company develops and commercializes molecular diagnostic tests to provide genetic and genomic information to clinicians for assessing disease risk, predicting progression, and guiding treatment decisions. Its major products and services are categorized into Oncology, Women's Health, and Pharmacogenomics, including tests like MyRisk Hereditary Cancer Test, BRACAnalysis CDx, myChoice CDx, Prolaris, Precise Tumor, Precise MRD, FirstGene Multiple Prenatal Screen, Prequel Prenatal Screen, Foresight Carrier Screen, GeneSight Psychotropic test, and SneakPeek Early Gender DNA Test.

Myriad Genetics has a global presence, serving healthcare providers in the United States, Europe, Canada, Australia, Japan, and select markets in Latin America and Asia. The company maintains international offices in Switzerland (Zurich), Germany (Munich), and a regional office in Japan (Tokyo). Additionally, Myriad Genetics utilizes distributor agreements to extend its reach into various countries across Europe, Asia Pacific, and Latin America.

Myriad Genetics has faced past controversies, notably concerning its patents on human genes, particularly the BRCA1 and BRCA2 genes, which led to a landmark Supreme Court decision in 2013. More recently, the company's brand reputation has been impacted by issues surrounding its GeneSight test. In May 2025, UnitedHealthcare reduced coverage of GeneSight, leading to a 20% year-over-year drop in pharmacogenomics revenue and a significant plummet in its stock price. This event prompted an investigation into possible securities fraud and a potential class action lawsuit on behalf of investors, alleging that Myriad falsely represented the effectiveness and accuracy of GeneSight and omitted information about an FDA investigation.

Myriad Genetics' stock ownership is a mix of institutional, retail, and individual investors. Approximately 35.91% of the company's stock is owned by institutional investors, 5.56% by insiders, and 58.53% by public companies and individual investors. Major institutional shareholders include BlackRock, Inc., Vanguard Group Inc., Millennium Management Llc., State Street Corp., Glenview Capital Management, Llc., D. E. Shaw & Co., Inc., Morgan Stanley, Jacobs Levy Equity Management, Inc., Geode Capital Management, Llc., and Goldman Sachs Group Inc. Individual insiders who own company stock include Samraat S. Raha (CEO), S. Louise Phanstiel (Chairman of the Board), Richard Bryan Riggsbee, Heinrich Dreismann, Lee Nisley Newcomer, Colleen F. Reitan, and Daniel K. Spiegelman.