Here's Why Invitae Stock Is Tumbling Today
Shares of Invitae (NYSE: NVTA) fell as much as 15.5% today after the company reported fourth-quarter and full-year 2019 operating results. The genetic testing company delivered impressive growth in 2019 compared to the prior year, including year-over-year increases of 47% in revenue and 59% in test volumes.
Despite the solid results, Wall Street analysts were expecting $68.1 million in fourth-quarter 2019 revenue. Invitae reported "only" $66.3 million. While the difference was insignificant in the grand scheme of things, it doesn't take much to derail a volatile growth stock.
As of 1:49 p.m. EST, shares had settled to a 11.2% loss.
Source Fool.com
