- Invitae ( NYSE: NVTA ) shares are up 57% in Wednesday afternoon trading boosted by Q2 2022 earnings that beat on the top and bottom lines and a reaffirmation of 2022 guidance .
- The medical genetics company expects a low double-digit growth rate for its full year 2022 revenue compared to 2021.
- JP Morgan, however, is taking a more cautionary view of the stock, downgrading it to underweight from neutral as a return to future growth needs to be proven.
- "Longer term, we think the company has yet to prove its ability to return to the target +15-25% growth in a profitable manner," analyst Julia Qin wrote.
- Check out why Seeking Alpha contributor Arne Verheyde is bullish on Invitae ( NVTA ).
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Invitae rises 57% behind 2022 financial guidance, quarterly beats