- Invitae ( NYSE: NVTA ) stock was in the green ( +4% ) on July 21, despite Raymond James downgrading the shares to Market Perform from Outperform.
- Earlier in the day, healthcare services stocks got a boost amid Amazon's announcement that it was acquiring One Medical, an operator of a membership-based primary care platform, for ~$3.9B.
- The SA Quant Rating on medical genetics company Invitae is Hold , which takes into account factors such as growth and profitability, among others things. Even the average Wall Street Analysts' Rating on the stock is Hold, wherein 6 out of 10 analysts give it a Hold rating.
- YTD, Invitae's stock have shed ~84% . The chart here shows YTD, price-return performance of NVTA and certain peers versus SPY500TR.
- On July 19, Invitae's shares fell -17.23% , following the company's flurry of announcements a day ago which included, COO Kenneth Knight taking over as CEO, effective immediately and Q2 preliminary revenue expected below consensus estimates. Invitae also expects revenue to remain flat in H2.
- The genetic testing company is also undertaking a restructuring to save costs.
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Invitae stock rises despite getting cut to Market Perform at Raymond James