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Invitae announced an agreement to exchange old notes for new notes plus more than 15.8 million new shares. Website StockNews.com also downgraded the stock from hold to sell.
The innovative medical services company is making adjustments to improve the bottom line.
Penny stocks hold a distinctive charm for many investors. Amidst fluctuating market trends and the occasional downturn, there's often a group of these low-cost stocks surging in value.
Stock market analysts have conflicting opinions about the market value of this genetic testing business. Worth more than $10 billion at its peak, beaten-down Invitae could provide huge returns if it can regain a fraction of its former market cap.
Invitae (NVTA) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Popular investment manager Cathie Wood is known for investing in innovative growth stocks.
Emergent BioSolutions just got a nod from regulators for over-the-counter use of a product to fight opioid overdose. Invitae is making progress on a plan to reach positive cash flow.
Invitae Corporation (NYSE:NVTA ) Annual William Blair Growth Stock Conference Call June 7, 2023 1:40 PM ET Company Participants Ken Knight - President and Chief Executive Officer Hoki Luk - Investor Relations Conference Call Participants Andrew Brackmann - William Blair Andrew Brackmann Hi, everyone. Good afternoon.
Cathie Wood bought shares of Twilio, Palantir, and Invitae on Wednesday. Twilio stock fell yesterday after the company posted disappointing guidance and a weak engagement metric.
Invitae (NVTA) came out with a quarterly loss of $0.37 per share versus the Zacks Consensus Estimate of a loss of $0.41. This compares to loss of $0.78 per share a year ago.