is there a way to change colors of a PlacedItem in Illustrator scripting?

Question

I building a simple automation script in Adobe Illustrator, and I am trying to recolor an ".ai" file to match a color swatch on current document template before I embed it to the document. I have tried multiple things all of which didn't work :). I am also not sure where is the right place to recolor before or after embed? i assume before, but since the logo is a placedItem I am not sure if any of the placedItem built in functions would do the task. if not if there are any work arounds?

              var logoFile = new File(logoFolderPath + teamID + logoFileExt);
              if (!logoFile.exists) {
                errorFlag = true;
              }
              var logo = doc.layers["ART"].placedItems.add();
              logo.file = logoFile;

              if (logoNeedsToFlip) {
                var myMatrix = getScaleMatrix(-100, 100);
                logo.transform(myMatrix)
              }

              // TODO: Change logo color to match Swatch Color
              //changeLogoColor(logo, swatch_color); 

              // Place the logo within the guide and center and resize
              rotateLogo(logo, guide);
              resizeAndCenterLogo(logo, guide);
              logo.embed();