Invitae Co. (NYSE:NVTA – Get Rating)'s share price traded up 7.8% on Wednesday . The company traded as high as $2.78 and last traded at $2.77. 23,439 shares changed hands during trading, a decline of 100% from the average session volume of 11,116,942 shares. The stock had previously closed at $2.57.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. Cowen increased their price target on Invitae to $2.80 in a research note on Tuesday, November 15th. SVB Leerink increased their target price on Invitae from $2.50 to $3.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 9th. Credit Suisse Group started coverage on Invitae in a research report on Wednesday, August 24th. They issued an "underperform" rating on the stock. JPMorgan Chase & Co. lowered Invitae from a "neutral" rating to an "underweight" rating in a research report on Wednesday, August 10th. Finally, William Blair reaffirmed a "market perform" rating on shares of Invitae in a research report on Tuesday, November 8th. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $8.04.
Get Invitae alerts:Invitae Price Performance
The firm has a 50 day moving average price of $2.58 and a two-hundred day moving average price of $2.93. The company has a debt-to-equity ratio of 10.03, a quick ratio of 6.18 and a current ratio of 6.44.
Invitae (NYSE:NVTA – Get Rating) last announced its 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. The company had revenue of $133.54 million during the quarter, compared to the consensus estimate of $132.80 million. Invitae had a negative return on equity of 39.04% and a negative net margin of 617.65%. On average, analysts predict that Invitae Co. will post -2.43 EPS for the current fiscal year.Institutional Trading of Invitae
Several large investors have recently modified their holdings of the business. Arizona State Retirement System grew its stake in shares of Invitae by 4.6% during 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 in the last quarter. Mackenzie Financial Corp grew its stake in Invitae by 25.1% in the second quarter. Mackenzie Financial Corp now owns 13,948 shares of the medical research company's stock worth $34,000 after purchasing an additional 2,795 shares in the last quarter. Private Advisor Group LLC grew its stake in Invitae by 9.7% in the first quarter. Private Advisor Group LLC now owns 32,282 shares of the medical research company's stock worth $258,000 after purchasing an additional 2,845 shares in the last quarter. SG Americas Securities LLC grew its stake in Invitae by 42.1% in the first quarter. SG Americas Securities LLC now owns 10,341 shares of the medical research company's stock worth $82,000 after purchasing an additional 3,062 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Invitae by 5.1% in the first quarter. Envestnet Asset Management Inc. now owns 63,738 shares of the medical research company's stock worth $508,000 after purchasing an additional 3,096 shares in the last quarter. 88.27% of the stock is currently owned by institutional investors and hedge funds.
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.
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