Last year in Autumn we had this buyout rumor. I remember back then Exact Sciences said to approach Invitae about a potential merger. Now, NVTA, Invitae Corporation, is trading at an all-time low, $0.62. Some deals take one or two years to perfect, and we don't know what caused the recent price decrease. Sometimes this happens before an announcement.
Today, Invitae announced the appointment of finance veteran Ana Schrank as CFO; she spent more than 20 years at McKesson Corporation where she held leadership roles. Could this CFO be hired ahead of a takeover?! We don't know!
But with an RSI of 19.34 and an all-time low, along with ARK Invest being the 2nd largest shareholder at an average price of $15.08, I think this looks like a great buying opportunity!
Looking forward to read your opinion about it!
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FDA Gives Marketing Authorization to Invitae Test for Cancer Genes. Invitae tested over 9,000 samples and found an accuracy greater than or equal to 99%. My price Target for NVTA is in this range: $10 - $30!