Shares of Invitae Co. (NYSE:NVTA - Get Rating) have earned a consensus recommendation of "Hold" from the seven research firms that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $20.58.
NVTA has been the topic of a number of recent research reports. Raymond James cut their target price on Invitae from $15.00 to $10.50 and set an "outperform" rating on the stock in a research note on Monday, April 18th. The Goldman Sachs Group dropped their price objective on Invitae from $14.00 to $10.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 19th. Morgan Stanley lowered their target price on Invitae from $37.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 15th. Zacks Investment Research downgraded Invitae from a "buy" rating to a "hold" rating in a report on Friday, February 18th. Finally, SVB Leerink decreased their price objective on Invitae from $30.00 to $25.00 and set an "outperform" rating on the stock in a research note on Friday, February 25th.
Shares of Invitae stock traded up $0.07 during midday trading on Friday, reaching $5.29. 126,828 shares of the company's stock traded hands, compared to its average volume of 6,171,220. The company has a debt-to-equity ratio of 0.53, a quick ratio of 7.95 and a current ratio of 8.18. The company has a market cap of $1.21 billion, a PE ratio of -1.82 and a beta of 1.76. The stock has a 50 day moving average of $7.74 and a 200-day moving average of $13.75. Invitae has a 12 month low of $4.63 and a 12 month high of $36.97.
Invitae (NYSE:NVTA - Get Rating) last announced its earnings results on Thursday, February 24th. The medical research company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.74) by ($0.07). The business had revenue of $126.12 million for the quarter, compared to the consensus estimate of $125.90 million. Invitae had a negative net margin of 139.38% and a negative return on equity of 23.52%. Invitae's revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.63) EPS. On average, equities analysts anticipate that Invitae will post -2.98 earnings per share for the current fiscal year.
In other Invitae news, insider Robert L. Nussbaum sold 19,588 shares of Invitae stock in a transaction on Monday, March 14th. The stock was sold at an average price of $6.69, for a total transaction of $131,043.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Thomas Brida sold 17,987 shares of Invitae stock in a transaction on Monday, March 14th. The shares were sold at an average price of $6.69, for a total value of $120,333.03. The disclosure for this sale can be found here. Insiders have sold a total of 74,611 shares of company stock valued at $499,148 over the last three months. 1.90% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Bourgeon Capital Management LLC purchased a new position in Invitae during the 3rd quarter worth $28,000. Herold Advisors Inc. purchased a new stake in Invitae during the 3rd quarter valued at about $42,000. Montag A & Associates Inc. grew its stake in Invitae by 32.1% during the 3rd quarter. Montag A & Associates Inc. now owns 1,803 shares of the medical research company's stock valued at $51,000 after purchasing an additional 438 shares during the last quarter. Concord Wealth Partners lifted its holdings in shares of Invitae by 179.2% in the 4th quarter. Concord Wealth Partners now owns 2,728 shares of the medical research company's stock valued at $42,000 after buying an additional 1,751 shares during the period. Finally, Tyler Stone Wealth Management acquired a new position in shares of Invitae in the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 90.64% of the company's stock.
About Invitae (Get Rating)
Invitae Corporation, a medical genetics company, integrates genetic information into mainstream medicine to improve healthcare of people in the United States, Canada, and internationally. The company offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, oncology, metabolic conditions, and rare diseases; digital health solutions; and health data services.
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