Shares of Invitae (NYSE: NVTA) were up 8.9% as of 3:42 p.m. EST on Wednesday. The gain came after Pacific Biosciences of California (NASDAQ: PACB) announced a collaboration with Invitae to expand its whole genome testing capabilities using PacBio’s new HiFi sequencing systems.
PacBio announced the multi-year partnership today, but Invitae didn’t include anything about the collaboration on its website. Often, shares of the vendor in these kinds of deals jump more than the customer’s shares do. That wasn’t the case here, with PacBio stock rising but not nearly as much as Invitae stock did.