Down 78% in 1 Year, Is There Any Hope Left for Invitae?
With shares down by 91% in the last three years, and 78% in the last 12 months alone, Invitae (NYSE: NVTA) and its investors are bound to be feeling the burn. The genetic testing company's downward spiral led Wall Street analysts to downgrade the stock, and many are suggesting that shareholders quit their positions.
But where there's pessimism about a stock's future, there's sometimes an opportunity for a turnaround -- and investors who go against the grain may have the potential to capture outsized rewards. Let's explore how realistic it is for Invitae to make a comeback so that you'll know whether the odds are in your favor.
Invitae's business model is to sell genetic tests by mail to consumers, healthcare providers, and genetic counselors. The idea is that people are willing to pay to learn more about their vulnerabilities to certain medical conditions like cancers, not to mention information about how their bodies might metabolize various medicines. And given its preliminary reported figures for 2022 ($516 million in revenue, 12% higher than a year prior), it's clear that Invitae's proposition to customers has some traction.
Source Fool.com
