What Happened?

Shares of genetic testing company Myriad Genetics (NASDAQ: MYGN) jumped 2.5% in the afternoon session after the company announced it would present new data from eight studies at the 2025 San Antonio Breast Cancer Symposium. 

The presentation focused on advances in its MyRisk® Hereditary Cancer Test and its Precise® Molecular Residual Disease (MRD) Test. The research supported treatment decisions guided by medical standards, especially for breast cancer. The company highlighted its MRD test as a highly sensitive tool for detecting cancer, which is particularly useful for cancers that are difficult to track. A company executive noted they were sharing "very strong data," which suggested positive results from their studies.

After the initial pop the shares cooled down to $7.30, up 3.2% from previous close.

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What Is The Market Telling Us

Myriad Genetics’s shares are extremely volatile and have had 43 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 8 days ago when the stock dropped 6% on the news that the U.S. Food and Drug Administration (FDA) approved a competing blood-based test for prostate cancer from rival company Cleveland Diagnostics. The agency gave its approval to IsoPSA, a diagnostic kit designed to help doctors decide whether a prostate biopsy is necessary for men aged 50 and older who have elevated PSA levels. The introduction of a new, FDA-approved test in the prostate cancer space signaled increased competition for Myriad Genetics. Investors reacted to the news with concern that this new product could challenge Myriad's position and capture a portion of the market for cancer diagnostics.

Myriad Genetics is down 46% since the beginning of the year, and at $7.30 per share, it is trading 52.4% below its 52-week high of $15.34 from December 2024. Investors who bought $1,000 worth of Myriad Genetics’s shares 5 years ago would now be looking at an investment worth $391.15.

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