Why Invitae Stock Rose 10.7% on Tuesday

Shares of molecular diagnostics company Invitae (NYSE: NVTA) climbed 10.7% on Tuesday. The company closed at $7.96 on Monday, then, after opening at $7.90 on Tuesday, climbed as high as $8.81 shortly after 11 a.m. ET. The stock is down more than 43% this year and it has a 52-week low of $6.06 and a 52-week high of $42.72.

The company didn't release any news on Monday, but its stock has been steadily climbing over the past week since it fell to $6.06 on March 15. At this point, investors may be more willing to take a flyer on Invitae, especially since Cathie Wood, the CEO for the Ark Invest family of exchange-traded funds (ETFs), has an interest in the stock. It is the No. 23 holding in Wood's Ark Innovation ETF with 18,959,702 shares.

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Source Fool.com