Myriad Genetics (MYGN -7.1%) slumps and is now off ~22% since intraday highs hit Thursday after...

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

Myriad Genetics (MYGN -7.1%) slumps and is now off ~22% since intraday highs hit Thursday after the Supreme Court's ruling on gene patents. Investors' fears that methods outside of MYGN's cDNA synthetics can be used to analyze genes were seemingly confirmed when Quest Diagnostics' (DGX +0.7%) director of media relations said the company plans "to validate and offer a BRCA1 and BRCA2 test service to physicians and patients later this year" (more). "The focus now shifts to the competitive dynamic," Jefferies says, reiterating a Hold rating. Meanwhile, BofA and RBC cut the shares to Neutral and Sector Perform respectively. (previous)