Why Bionano Genomics, Invitae, and Opko Health Stocks Sank This Week

Diagnostics stocks hit a rough patch this week. Shares of Bionano Genomics (NASDAQ: BNGO) were down 13.5% for the week as of the market close on Thursday. Invitae (NYSE: NVTA) stock was off by 12% over the last four days, while Opko Health (NASDAQ: OPK) shares have tumbled by 11.7%.

None of these companies reported news this week that could have given investors reason to sell. Invitae didn't issue any press releases at all. Bionano highlighted presentations about its optical genome mapping technology at the European Cytogenomics Conference. And Opko announced a deal to license its oligonucleotide therapeutics platform to CAMP4 Therapeutics. But while both Bionano and Opko had positive things to say, their news wouldn't have moved the needle much for either stock.

So why did these life sciences stocks fall? Investors could be concerned that with COVID-19 cases in the U.S. rising again, due largely to the rapid spread of the delta variant, Bionano and Invitae could be negatively impacted.

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Source Fool.com