Myriad Genetics Shares Plunge 45% After Slashed 2026 Revenue Outlook

Key Facts

In a move reflecting heightened challenges within the genetic testing sector, Myriad Genetics shares plunged 45.72% following a significant downward revision to its 2026 revenue outlook. According to reports, the company now expects revenue between $770 million and $790 million, down from its previous guidance of $860 million to $880 million. This revision stems from weak second-quarter performance and increasing friction with insurance payers.

The company is grappling with competitive pressures and persistent cash burn, with data showing a net loss of $43.2 million for the quarter ending June 30, 2026. Consequently, TD Cowen lowered its price target for the stock to $4, citing operational weaknesses. Per market data, this decline places the company at a disadvantage compared to healthcare and diagnostics peers that maintain faster growth rates and positive profit margins.

Recent price action saw the stock collapse from levels near $5.71 toward the $3.35 and $2.91 range following the guidance cut. Market participants are also monitoring broader catalysts, including the upcoming OPEC meeting, which may influence general market sentiment.