Invitae Co. (NYSE:NVTA)’s share price shot up 4.5% during mid-day trading on Thursday . The company traded as high as $39.26 and last traded at $39.03. 15,005 shares traded hands during trading, a decline of 100% from the average session volume of 4,729,603 shares. The stock had previously closed at $37.36.
A number of equities research analysts recently commented on NVTA shares. Zacks Investment Research downgraded shares of Invitae from a “hold” rating to a “sell” rating in a research report on Tuesday, February 23rd. Oppenheimer upgraded Invitae from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research note on Monday. They noted that the move was a valuation call. Morgan Stanley raised their target price on Invitae from $41.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, February 25th. SVB Leerink upped their price target on shares of Invitae from $64.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, February 25th. Finally, LADENBURG THALM/SH SH upgraded shares of Invitae from a “neutral” rating to a “buy” rating and raised their price objective for the company from $46.50 to $58.00 in a research note on Thursday, February 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $45.88.
The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.09 and a current ratio of 4.09. The stock has a market capitalization of $7.58 billion, a PE ratio of -9.97 and a beta of 2.11. The company’s fifty day simple moving average is $40.49 and its two-hundred day simple moving average is $46.28.
Invitae (NYSE:NVTA) last released its quarterly earnings results on Tuesday, February 16th. The medical research company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.08). Invitae had a negative net margin of 183.50% and a negative return on equity of 81.19%. The business had revenue of $100.43 million during the quarter, compared to analyst estimates of $97.87 million. Sell-side analysts forecast that Invitae Co. will post -2.69 EPS for the current fiscal year.
In other news, insider Katherine Stueland sold 4,199 shares of Invitae stock in a transaction on Wednesday, January 13th. The stock was sold at an average price of $51.82, for a total value of $217,592.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sean E. George sold 8,675 shares of the company’s stock in a transaction on Thursday, January 21st. The shares were sold at an average price of $53.80, for a total value of $466,715.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,441 shares of company stock worth $5,617,770. 2.90% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sonora Investment Management LLC purchased a new stake in Invitae in the fourth quarter valued at approximately $29,000. Orion Capital Management LLC acquired a new stake in shares of Invitae during the 4th quarter worth $31,000. Eudaimonia Partners LLC purchased a new position in shares of Invitae in the 4th quarter worth $38,000. Perigon Wealth Management LLC acquired a new position in Invitae in the fourth quarter valued at $59,000. Finally, Montag A & Associates Inc. purchased a new stake in Invitae during the fourth quarter valued at about $77,000. 78.60% of the stock is currently owned by institutional investors and hedge funds.
Invitae Company Profile (NYSE:NVTA)
Invitae Corporation, a medical genetics company, processes DNA-containing samples, analyzes information related to patient-specific genetic variation, and generates test reports for clinicians and their patients in the United States, Canada, and internationally. It offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, metabolic conditions, and rare diseases; prenatal and perinatal genetic tests; and non-invasive prenatal screening products.
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