Myriad Genetics slips after Piper Sandler downgrades to 'underweight'

** Myriad Genetics' MYGN.O shares slip more than 7% to $2.99 in premarket trading

** Piper Sandler downgrades stock rating to "underweight" from "overweight"

** "We do not believe the current business model can grow or cut its way to profitability, leaving divestiture of assets as the most credible path to value," brokerage says ** Piper Sandler adds that "the situation has deteriorated to the point where a recovery looks difficult"

** MYGN in July missed Q2 revenue estimates and cut 2026 revenue forecast

** Up to last day's close, stock is down over 47% YTD