Shares of InVitae Corp (NYSE:NVTA) have been assigned a consensus rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $11.00.
Several brokerages have commented on NVTA. JPMorgan Chase & Co. cut their target price on InVitae from $13.00 to $9.00 and set an “overweight” rating for the company in a research note on Tuesday, February 13th. Benchmark cut their target price on InVitae from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 13th. Leerink Swann cut their target price on InVitae from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday, November 7th. BidaskClub downgraded InVitae from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Finally, ValuEngine downgraded InVitae from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd.
Large investors have recently added to or reduced their stakes in the business. Lakeview Capital Partners LLC purchased a new stake in shares of InVitae in the 3rd quarter valued at about $117,000. Teacher Retirement System of Texas purchased a new stake in shares of InVitae in the 4th quarter valued at about $116,000. Gabelli Funds LLC purchased a new stake in shares of InVitae in the 3rd quarter valued at about $131,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of InVitae in the 3rd quarter valued at about $133,000. Finally, Granite Springs Asset Management LLC purchased a new stake in shares of InVitae in the 4th quarter valued at about $132,000. 69.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of InVitae (NVTA) traded up $0.10 during midday trading on Friday, reaching $6.53. The company’s stock had a trading volume of 407,204 shares, compared to its average volume of 1,060,000. InVitae has a fifty-two week low of $5.15 and a fifty-two week high of $11.88. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.33. The company has a market cap of $345.73 and a P/E ratio of -2.47.
InVitae (NYSE:NVTA) last issued its earnings results on Monday, February 12th. The medical research company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.17). InVitae had a negative return on equity of 134.68% and a negative net margin of 180.85%. The company had revenue of $25.40 million during the quarter, compared to the consensus estimate of $24.18 million. During the same quarter in the prior year, the business earned ($0.69) EPS. The firm’s revenue for the quarter was up 175.0% compared to the same quarter last year. equities research analysts predict that InVitae will post -2.28 EPS for the current fiscal year.
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Invitae Corporation utilizes an integrated portfolio of laboratory processes, software tools and informatics capabilities to process deoxyribonucleic acid (DNA)-containing samples, analyze information about patient-specific genetic variation and generate test reports for clinicians and their patients.
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