MYGN Slides As Myriad Genetics Slashes 2026 Revenue Outlook

Myriad Genetics Inc. (MYGN) stock slid by 45.72% after the company slashed its 2026 revenue outlook to $770M-$790M from a prior $860M-$880M, falling short of Street expectations. This reduction was attributed to competitive genetic testing advancements, weaker Q2 performance, and increased payer friction, leading TD Cowen to lower its price target to $4. Despite expectations for a strong 66%-67% adjusted gross margin, the company faces deeply negative profitability and ongoing cash burn, with technical analysis showing a sharp, high-volume breakdown.