Cathie Wood Weighs In On Invitae Corp

Speaking on CNBC's "Closing Bell," Ark VInestment Management CEO Cathie Wood said Invitae Corp NVTA, in the molecular diagnostics space, is probably one of the most important companies in the genomic revolution and it's getting hammered.

Historically, Wood said, it has had small cash cushions although it rectified that with offerings, which is great. She added that the company is investing aggressively to be the leader in the molecular diagnostic and testing space.

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Wood said the disconnect for many people here is when they think about lab tests, they think of Laboratory Corp. of America Holdings LH and Quest Diagnostics Inc DGX, which are effectively very mature companies, commoditized, value stocks. She expects the new lab tests to be supported by artificial intelligence, big data and supercomputing power amid a move towards personalized medicine, which is going to give just a few companies the lion share of the market.

These companies are going to have the most data, the highest quality data and the best AI expertise, Wood said.