10.11.2020 15:58:28
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Stock Alert: Penumbra Down 5% Despite Partnership With RapidAI
(RTTNews) - Shares of healthcare company Penumbra, Inc. (PEN) are losing more than 5 percent or $13.46 in Tuesday's morning trade at $229.00.
Tuesday, Penumbra said it has formed a new partnership with RapidAI to develop solutions to enable faster clinical decision-making for pulmonary embolism or PE diagnosis and procedures. RapidAI offers a data-driven artificial intelligence or AI platform that empowers clinicians to make faster, more accurate diagnostic and treatment decisions for stroke and aneurysm patients.
Penumbra said it will work with RapidAI to develop several clinical and communications modules for pulmonary embolism, which is a deadly condition involving blood clots in the lungs. The modules are intended to streamline triage and decision-making by processing CT scans and delivering clear, easy-to-interpret CT images directly to the physician.
U.S. stocks are mixed on Tuesday as traders continued to cycle out of tech stocks that benefited from the coronavirus pandemic and into cyclical stocks that struggled. The shift comes as upbeat news about a coronavirus vaccine being developed by Pfizer and BioNTech generated optimism business may return to normal next year.
Penumbra has traded in a range of $121.80 to $277.00 in the past 52 weeks.
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