Myriad Genetics, Inc. (MYGN) Stock Price & How to Invest

Myriad Genetics runs a high-complexity laboratory business built on genetic and genomic tests. It reports three franchises. Cancer Care Continuum is the largest at ~$114 million of second-quarter 2026 revenue, anchored by the MyRisk hereditary cancer panel, Prolaris for prostate cancer, EndoPredict for breast cancer, MyChoice CDx (a companion diagnostic for PARP inhibitors) and the newer Precise MRD test that looks for residual cancer DNA in blood. Prenatal Health (~$40 million in the quarter) sells Prequel, Foresight, SneakPeek and FirstGene. Mental Health (~$37 million) is GeneSight, a pharmacogenomic test that helps clinicians choose psychiatric medications. Myriad is paid per test, mostly by commercial insurers and Medicare, so the price it collects matters as much as the number of tests it runs.

That is where 2026 went wrong. Second-quarter revenue fell ~11% year over year to ~$190.7 million, even though total volume dipped only ~1%, because average revenue per test fell ~9%. About $11 million of that came from lower than expected collections on older claims, including a ~$4 million write-off of aged receivables. Management cut full-year revenue guidance to $770 to $790 million, suspended adjusted EBITDA guidance, and launched an efficiency program called Ascend. The stock lost about 46% in the following session and spent most of September and early October between roughly $4.00 and $4.60. On October 20 Myriad agreed to sell its Prenatal Health business to Labcorp for $210 million in cash plus inventory value, with closing expected in early 2027, and shares rose more than 20% to around $5.50. The deal price equals roughly half of Myriad's ~$403 million market value before the news. The investment picture is now a test of whether a smaller Myriad, with more cash and fewer distractions, can turn volume growth in hereditary cancer, Prolaris and MRD into revenue growth and positive cash flow. At roughly 0.6x trailing sales, the market is pricing in a lot of doubt about that outcome.

Reimbursement is the central risk. Myriad's revenue fell ~11% in the second quarter on nearly flat volume, which shows how sensitive it is to what payers actually pay. CMS's proposed 2027 Clinical Laboratory Fee Schedule includes cuts of up to ~15% on some codes Myriad uses; one analyst called the impact minimal, but the final numbers are not set. GeneSight lost UnitedHealthcare coverage in 2025, a reminder that a single payer decision can hit a franchise. The company is losing money: the first half of 2026 produced a ~$77 million GAAP net loss and ~$21 million of negative adjusted EBITDA, with cash down from ~$150 million to ~$115 million in six months. Competition in hereditary testing and MRD comes from larger, better funded labs. The prenatal sale may not close, or may close late, and losing ~$160 million of revenue makes the remaining company smaller and more concentrated. Law firms announced investigations after the July guidance cut; these are solicitations, not filed suits, but they can become one. The stock is highly volatile, with more than 40 daily moves above 5% in the past year.

8 analysts publish price targets on MYGN, averaging $4.11 against a $5.73 price as of October 2026, or -28.3%. The published targets run from $2.00 to $8.00, a wide spread, and the ratings split 1 buy, 5 hold, 3 sell. Over the last six months there have been 2 raises and 7 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full MYGN forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Myriad Genetics, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. The Labcorp prenatal sale. The $210 million cash sale of Prequel, Foresight, SneakPeek and FirstGene is the main reason MYGN is trending today. The most optimistic published target, $8.00, assumes this works close to its best case.

The case against. Reimbursement is the central risk. The most pessimistic target, $2.00, is roughly what MYGN is worth if this bites instead.

Read the full bull and bear case on MYGN, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Myriad Genetics, Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$807 million
• 2026 revenue guidance: $770 to $790 million
• Net loss (first half 2026): ~$77 million
• Adjusted gross margin (Q2 2026): ~67%
• Market cap (Oct 20, 2026): ~$0.5 billion
• Price to sales (TTM): ~0.6x

Myriad trades at a fraction of its sales because the market doubts the revenue base is stable. Trailing revenue of ~$807 million combines full-year 2025 revenue of ~$824.5 million with a weaker first half of 2026. There are no meaningful earnings to value: GAAP and adjusted results are both negative in 2026. Cash of ~$115 million roughly offsets ~$121 million of long-term debt, so enterprise value is close to market value. The $210 million Labcorp proceeds, if the deal closes, would equal roughly 40% of the post-announcement market value.

Other names that sit close to MYGN: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get MYGN exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so MYGN sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where MYGN fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

MYGN is a cheap, shrinking diagnostics lab trying to reinvent itself around cancer testing. The Labcorp sale adds cash and focus, but reimbursement pressure and losses still define the story.

Whether MYGN is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is MYGN a buy or a sell?, and where the stock could go from here in the MYGN stock forecast.

For income investors, whether MYGN pays a dividend and how the payout looks is covered in does MYGN pay a dividend? And to weigh MYGN against a peer, read the full side-by-side comparisons: MYGN vs LH and MYGN vs DGX.