Myriad Genetics Shares Fall After Q1 Miss as Prenatal Weakness Weighs on Results

Myriad Genetics (MYGN) reported first-quarter 2026 results that missed Wall Street expectations, with revenue and adjusted earnings below consensus despite modest year-over-year sales growth. Shares traded at $4.26 after the report, down 15.3% from $5.03 before earnings. Management cited investments in new product launches, an expanded commercial team and persistent weakness in the prenatal testing business. CEO Samraat Raha pointed to growth in mental health testing and double-digit hereditary cancer testing volume gains, while acknowledging the need for stronger execution and cost discipline to meet profitability goals. Investors are likely to focus on adoption of Precise MRD and AI-enabled Prolaris tests, stabilization in prenatal testing after the FirstGene launch, and whether the larger sales force can deliver productivity gains in coming quarters.