Invitae Shares Surge On Cathie Wood Comments: Here's What The Ark Invest CEO Said

Invitae Corp (NYSE:NVTA) shares are taking off in Thursday’s after-hours session after Ark Invest’s Cathie Wood discussed the name on CNBC’s “Closing Bell: Overtime.”

“We do believe the breakthroughs that we are seeing thanks to the convergence of DNA sequencing … RNA protein sequencing and artificial intelligence are already delivering cures for disease and so we still hold Invitae,” Wood said. 

It’s important to note the Ark Invest founder and CEO came on CNBC in 2021 and touted Invitae stock, with shares trading around the $32 level. She defended that buy on Thursday, noting that interest rates have punished long-duration assets and life sciences names have been hit the hardest. 

She noted that Ark has been increasing its position over the last two years as the stock has trended lower. 

“We think that the breakthroughs are going to be life saving,” Wood said. 

Invitae is a medical genetics company focused on delivering timely genetic information simplified by digital technology. 

See Also: Why CSX Stock Is Moving Higher After Hours

NVTA Price Action: Invitae shares popped on the back of Wood’s comments.

The stock was up 10.3% after hours at $1.34 at the time of publication, according to Benzinga Pro.

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