Is Invitae Stock a Buy Now?
Invitae (NYSE: NVTA) shares have plummeted more than 80% this year. The genetic testing company has grown revenue over the years, but it hasn't been able to turn that revenue into profit. Instead, it's burned through cash -- and left investors wondering when and if the company can make it to profitability.
But Invitae isn't standing by and watching a worsening situation; the company aims to turn things around. In July, it announced a strategic plan. Considering the new efforts and share-price declines, is Invitae a buy now? Let's take a closer look.
First, a little background on Invitae. The company makes a variety of genetic tests that it sells both to healthcare providers and directly to individuals. For instance, you can take a test to screen for potential genetic illnesses. Other tests can determine your risk of passing such an illness on to a child.
Source Fool.com
