Myriad Genetics tumbles on continued COVID-19 pressures

Myriad Genetics (MYGN -13.0%) is down on double volume, the largest price plunge since early February, as COVID-19 disruptions continue to pressure test volumes, pricing and reimbursement.

Bloomberg Intelligence’s Jonathan Palmer believes that volumes in its flagship hereditary cancer business could drop 70 – 75% in fiscal Q4 due to slack demand for elective testing, adding that it appears doubtful that its GeneSight depression test will live up to expectations and the integration of its prenatal testing unit has been “challenging.”

https://seekingalpha.com/news/3582361-myriad-genetics-tumbles-on-continued-covidminus-19-pressures