Why Myriad Genetics Shares Are Tanking Today

Shares of Myriad Genetics (NASDAQ: MYGN) were tanking by 32.5% as of 11:27 a.m. EST on Friday. The plunge came after the molecular diagnostics company announced disappointing fiscal 2020 second-quarter results following the market close on Thursday.

Myriad reported total revenue in Q4 of $195.1 million, down 10% year over year. The company posted adjusted earnings per share of $0.23. This was a 40% drop compared to the prior-year period and came in well below the consensus Wall Street estimate of $0.31.

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Source Fool.com