Why Progenity's Stock Is Trading Lower Today

Progenity (NASDAQ: PROG) shares are trading lower on Monday after Wells Fargo downgraded the stock from Overweight to Underweight and lowered its price target from $11 to $5 per share.

Progenity is a biotechnology company. It is engaged in developing and commercializing molecular testing products. The company is translating innovation into precision medicine through diagnostic and therapeutic development platforms based on genomics, proteomics, and microbiomics. The firm generates its revenue from molecular laboratory tests, principally from the sale of Innatal, Preparent, and pathology molecular testing.

Progenity shares were trading down 7.25% at $5.76. The stock has a 52-week high of $15.92 and low of $3.08.