Why Shares of Myriad Genetics Dropped 24% This Week
Shares of Myriad Genetics (NASDAQ: MYGN), a genetic-testing and precision-medicine biotech company, were down more than 24% this week as of Thursday, according to data from S&P Global Intelligence. The stock closed last week at $20.86, then opened on Monday at $20.43.
The stock hit its 52-week low on Thursday afternoon when it sunk to $15.38. Its 52-week high is $31.91. The stock is down more than 42% so far this year.
The company released its third-quarter earnings on Tuesday, and the numbers weren't impressive. The company reported revenue of $156.4 million, down 6.5% year over year, and a loss in net income of $35.1 million, compared to a gain of $24.6 million in the same period a year ago.
Source Fool.com
