Invitae Co. (NYSE:NVTA – Get Rating)'s stock price fell 5.1% during mid-day trading on Friday . The company traded as low as $2.78 and last traded at $2.82. 37,359 shares were traded during mid-day trading, a decline of 100% from the average session volume of 9,110,689 shares. The stock had previously closed at $2.97.
Analysts Set New Price Targets
A number of equities analysts have weighed in on NVTA shares. William Blair reissued a "market perform" rating on shares of Invitae in a research note on Tuesday, November 8th. Cowen lifted their target price on Invitae to $2.80 in a research report on Tuesday, November 15th. Credit Suisse Group initiated coverage on Invitae in a research report on Wednesday, August 24th. They issued an "underperform" rating on the stock. JPMorgan Chase & Co. downgraded Invitae from a "neutral" rating to an "underweight" rating in a research report on Wednesday, August 10th. Finally, SVB Leerink lifted 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. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $8.04.
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The stock has a market capitalization of $689.84 million, a price-to-earnings ratio of -0.21 and a beta of 1.61. The company has a debt-to-equity ratio of 10.03, a quick ratio of 6.18 and a current ratio of 6.44. The company has a 50 day moving average of $2.58 and a 200 day moving average of $2.87.
Invitae (NYSE:NVTA – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The medical research company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.17. The business had revenue of $133.54 million during the quarter, compared to analysts' expectations of $132.80 million. Invitae had a negative return on equity of 39.04% and a negative net margin of 617.65%. As a group, equities research analysts anticipate that Invitae Co. will post -2.43 EPS for the current year.Institutional Trading of Invitae
A number of large investors have recently made changes to their positions in the company. ARK Investment Management LLC boosted its position in shares of Invitae by 6.3% in the 3rd quarter. ARK Investment Management LLC now owns 30,468,381 shares of the medical research company's stock valued at $74,952,000 after purchasing an additional 1,799,431 shares during the period. Vanguard Group Inc. raised its stake in Invitae by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 21,624,354 shares of the medical research company's stock valued at $53,196,000 after acquiring an additional 544,941 shares during the last quarter. Rock Springs Capital Management LP raised its stake in Invitae by 18.7% during the 1st quarter. Rock Springs Capital Management LP now owns 3,323,821 shares of the medical research company's stock valued at $26,491,000 after acquiring an additional 523,578 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Invitae by 34.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,551,464 shares of the medical research company's stock valued at $6,226,000 after acquiring an additional 647,362 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Invitae by 11.8% during the 2nd quarter. Northern Trust Corp now owns 2,132,881 shares of the medical research company's stock valued at $5,204,000 after acquiring an additional 225,589 shares during the last quarter. 88.27% of the stock is owned by institutional investors and hedge funds.
Invitae Company Profile
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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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