Invitae Co. (NYSE:NVTA – Get Rating) has been assigned a consensus rating of "Hold" from the thirteen research firms that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $10.33.
Several equities analysts have recently commented on the company. Credit Suisse Group initiated coverage on Invitae in a research note on Wednesday, August 24th. They issued an "underperform" rating on the stock. Benchmark cut shares of Invitae from a "buy" rating to a "hold" rating in a research report on Tuesday, July 19th. Cowen lowered shares of Invitae from an "outperform" rating to a "market perform" rating in a report on Tuesday, July 26th. Cowen cut shares of Invitae from an "outperform" rating to a "market perform" rating in a research report on Tuesday, July 26th. Finally, SVB Leerink boosted their target price on Invitae from $2.50 to $3.00 and gave the company a "market perform" rating in a research report on Wednesday, November 9th.
Get Invitae alerts:Invitae Price Performance
NVTA stock opened at $3.17 on Tuesday. Invitae has a 1 year low of $1.83 and a 1 year high of $22.35. The company has a debt-to-equity ratio of 4.12, a current ratio of 6.42 and a quick ratio of 6.07. The firm has a market capitalization of $769.98 million, a PE ratio of -0.23 and a beta of 1.59. The business has a 50 day simple moving average of $2.67 and a 200-day simple moving average of $3.04.
Invitae (NYSE:NVTA – Get Rating) last announced its quarterly earnings results on Tuesday, November 8th. The medical research company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.17. Invitae had a negative net margin of 617.65% and a negative return on equity of 30.03%. The firm had revenue of $133.54 million for the quarter, compared to analysts' expectations of $132.80 million. Equities research analysts anticipate that Invitae will post -2.48 earnings per share for the current fiscal year.Institutional Investors Weigh In On Invitae
Several institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its position in Invitae by 4.6% in the first quarter. Arizona State Retirement System now owns 55,072 shares of the medical research company's stock valued at $439,000 after acquiring an additional 2,425 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Invitae by 25.1% in the 2nd quarter. Mackenzie Financial Corp now owns 13,948 shares of the medical research company's stock valued at $34,000 after purchasing an additional 2,795 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Invitae by 9.7% in the 1st quarter. Private Advisor Group LLC now owns 32,282 shares of the medical research company's stock valued at $258,000 after purchasing an additional 2,845 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Invitae by 42.1% in the 1st quarter. SG Americas Securities LLC now owns 10,341 shares of the medical research company's stock valued at $82,000 after purchasing an additional 3,062 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in Invitae by 5.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 63,738 shares of the medical research company's stock worth $508,000 after buying an additional 3,096 shares during the last quarter. Hedge funds and other institutional investors own 88.27% of the company's stock.
About Invitae
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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.
Further Reading
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