Invitae (NYSE:NVTA) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Invitae (NYSE:NVTA – Get Rating) in a research note issued to investors on Thursday morning. The firm issued a sell rating on the medical research company’s stock.

Other analysts have also recently issued research reports about the company. Piper Sandler decreased their target price on Invitae from $2.25 to $1.75 and set an underweight rating for the company in a report on Friday, March 3rd. The Goldman Sachs Group lowered Invitae from a neutral rating to a sell rating and set a $2.00 price target on the stock. in a research report on Tuesday, January 31st. Five research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $4.58.

Invitae Trading Down 5.8 %

Shares of NVTA stock opened at $1.31 on Thursday. The firm has a 50-day moving average price of $2.13 and a 200 day moving average price of $2.40. Invitae has a twelve month low of $1.29 and a twelve month high of $9.18. The company has a market capitalization of $322.57 million, a price-to-earnings ratio of -0.10 and a beta of 1.88. The company has a current ratio of 6.41, a quick ratio of 6.13 and a debt-to-equity ratio of 15.68.

Invitae (NYSE:NVTA – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The medical research company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.21. Invitae had a negative net margin of 601.64% and a negative return on equity of 59.44%. The company had revenue of $122.45 million during the quarter, compared to the consensus estimate of $120.98 million. During the same quarter in the prior year, the company posted ($0.81) EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Research analysts forecast that Invitae will post -1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NVTA. ARK Investment Management LLC boosted its stake in Invitae by 6.3% during the third quarter. ARK Investment Management LLC now owns 30,468,381 shares of the medical research company’s stock valued at $74,952,000 after buying an additional 1,799,431 shares in the last quarter. Polar Asset Management Partners Inc. bought a new position in shares of Invitae in the 3rd quarter valued at approximately $4,158,000. Edgestream Partners L.P. acquired a new stake in Invitae in the 3rd quarter valued at approximately $3,136,000. Alyeska Investment Group L.P. acquired a new stake in Invitae in the 1st quarter valued at approximately $8,369,000. Finally, Renaissance Technologies LLC acquired a new stake in Invitae in the 1st quarter valued at approximately $8,279,000. Institutional investors own 76.79% of the company’s stock.

Invitae Company Profile

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Invitae Corp. engages in the provision of genetic information into mainstream medical practice. It includes comprehensive panels for hereditary conditions in cancer, cardiology, neurology, pediatric, and rare diseases. The company was founded by Randal W. Scott and Sean E. George on January 13, 2010 and is headquartered in San Francisco, CA.