Shares of Myriad Genetics (MYGN -5.6%) did an abrupt about-face late in the day, finishing lower...

|About: Myriad Genetics, Inc. (MYGN)|By:, SA News Editor

Shares of Myriad Genetics (MYGN -5.6%) did an abrupt about-face late in the day, finishing lower after hovering solidly in the green for most of the day. A couple reasons for the slide: Leerink Swann cut the shares to Market Perform, saying that its near-term reimbursement and SCOTUS-specific overhang thesis has played out, and long-term pricing and competitive concerns mean there's nowhere for the stock to go from here but down. Additionally, DNATraits, part of Houston-based Gene By Gene, said it would offer BRCA gene testing in the U.S. for $995 - less than a third of the current price.