Key Highlights

  • Myriad Genetics (NASDAQ:MYGN) jumped 57.91% over one month in published market data as of October 28, 2026, including 15.89% in the latest week, though it is up only 5.19% year to date.
  • On October 19, 2026 the company agreed to sell its Prenatal Health business to Labcorp (NYSE:LH) for USD 210 million in cash plus inventory value, with closing expected in early 2027.
  • The prenatal unit generated about USD 160 million of revenue over the last twelve months, and shares were reported up 36% on October 20, 2026 after the announcement.
  • Craig-Hallum's USD 8 target and TD Cowen's USD 4.50 target with a Hold rating show how far apart analysts remain on Myriad Genetics (NASDAQ:MYGN) after the sale announcement.

The Prenatal Sale

Myriad Genetics (NASDAQ:MYGN) disclosed in an 8-K dated October 19, 2026 a definitive agreement to sell its Prenatal Health testing business, including the Prequel, Foresight, SneakPeek and FirstGene tests, to Labcorp for USD 210 million in cash plus inventory at closing. Closing is expected in early 2027, subject to regulatory clearance. Chief Executive Sam Raha said the proceeds would strengthen the balance sheet to support investment tied to the cancer care continuum. The stock rose about 36% on October 20 in one report, after trading between about USD 4.00 and USD 4.60 in prior weeks. Labcorp is a large diagnostics group and an established buyer of laboratory businesses.

Oncology Pivot and Results

The company is concentrating on oncology. It is advancing PrGIS, a genomic instability score for prostate cancer built on its MyChoice CDx test, through a collaboration with SOPHiA GENETICS and AstraZeneca, as reported. Second quarter 2026 revenue was USD 190.7 million, down 10.5%, with an adjusted loss of USD 0.25 per share, and full-year revenue guidance was cut to a USD 780 million midpoint, as reported. Cash was reported above USD 115 million. Selling the prenatal unit removes about USD 160 million of annual revenue, so the remaining business is smaller. Management ties the proceeds to the cancer care continuum, so oncology tests such as MyRisk and Precise Tumor are central to the remaining portfolio.

Risks and Next Steps

CMS has proposed 2027 laboratory fee cuts of up to roughly 15% on some codes the company uses, which Craig-Hallum considers an immaterial or minimally negative earnings effect. Payer pricing pressure, negative operating cash flow and a USD 43.2 million quarterly net loss remain concerns. TD Cowen kept a Hold, citing large addressable markets and test volume growth. After a 57.91% month, expectations are higher, and third quarter results and a call are scheduled for November 4, 2026. A delay in the Labcorp closing or a regulatory problem could weigh on Myriad Genetics (NASDAQ:MYGN). The sale price also relies on inventory value at closing, so the final amount may differ from the headline.

Where Things Stand

Myriad Genetics (NASDAQ:MYGN) jumped 57.91% because the USD 210 million prenatal sale to Labcorp, announced October 19, 2026, funds an oncology pivot and strengthens the balance sheet, and analysts such as Craig-Hallum, with a USD 8 target, see room to run. The stock is still only up 5.19% this year, revenue is falling and guidance was cut in the summer. The balance of evidence is cautiously positive, and the November 4, 2026 third quarter report is the next test.