Shares of genetic testing company Myriad Genetics (NASDAQ:MYGN) jumped 5.9% in the afternoon session after the company announced the launch of its Precise MRD™ test for breast cancer patients and presented at a healthcare conference.

The new test, which detects what is known as molecular residual disease, was designed to help doctors monitor patients during cancer treatment. Myriad Genetics initiated the launch with a select number of oncology practices, with plans for a broader commercial rollout across the U.S. later in the year. The development came as the company also presented at the TD Cowen 46th Annual Health Care Conference. This news followed a recent earnings call in which the company reaffirmed its full-year 2026 financial outlook, signaling confidence in its growth.

After the initial pop the shares cooled down to $5.26, up 4.9% from previous close.

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Myriad Genetics’s shares are extremely volatile and have had 45 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 4 days ago when the stock dropped 4.8% on the news that a surprisingly hot wholesale inflation report fueled investor concerns about persistent price pressures. The Producer Price Index (PPI), a key measure of inflation at the wholesale level, increased by 0.5% in January, significantly higher than the 0.3% anticipated by economists. More concerning was the core PPI, which excludes volatile food and energy prices, as it surged by 0.8%, far exceeding the expected 0.3% rise. This data suggests that inflation may be more entrenched than previously thought, potentially impacting future interest rate decisions. In response to the news, major market indices, including the S&P 500, Dow Jones, and Nasdaq, all traded sharply lower as investors reassessed the economic outlook.

Myriad Genetics is down 14.4% since the beginning of the year, and at $5.26 per share, it is trading 50% below its 52-week high of $10.52 from March 2025. Investors who bought $1,000 worth of Myriad Genetics’s shares 5 years ago would now be looking at an investment worth $182.72.

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