Invitae (NYSE:NVTA) Shares Up 4.5%


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Invitae Co. (NYSE:NVTA)’s share price shot up 4.5% during mid-day trading on Thursday . The company traded as high as $39.26 and last traded at $39.03. 15,005 shares were traded during trading, a decline of 100% from the average session volume of 4,729,603 shares. The stock had previously closed at $37.36.

NVTA has been the topic of a number of research reports. LADENBURG THALM/SH SH raised shares of Invitae from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $46.50 to $58.00 in a report on Thursday, February 25th. Oppenheimer raised Invitae from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a research note on Monday. They noted that the move was a valuation call. SVB Leerink raised their price target on Invitae from $64.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, February 25th. Morgan Stanley upped their price target on shares of Invitae from $41.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, February 25th. Finally, Zacks Investment Research downgraded shares of Invitae from a “hold” rating to a “sell” rating in a report on Tuesday, February 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Invitae currently has an average rating of “Hold” and a consensus target price of $45.88.

The stock has a market capitalization of $7.58 billion, a PE ratio of -9.97 and a beta of 2.11. The business’s 50 day moving average is $40.49 and its 200 day moving average is $46.28. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.68.

Invitae (NYSE:NVTA) last announced its earnings results on Tuesday, February 16th. The medical research company reported ($0.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.08). The business had revenue of $100.43 million for the quarter, compared to analysts’ expectations of $97.87 million. Invitae had a negative net margin of 183.50% and a negative return on equity of 81.19%. As a group, analysts anticipate that Invitae Co. will post -2.69 EPS for the current year.

In other Invitae news, insider Katherine Stueland sold 4,199 shares of the business’s stock in a transaction dated Wednesday, January 13th. The shares were sold at an average price of $51.82, for a total value of $217,592.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sean E. George sold 27,417 shares of the firm’s stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $42.90, for a total transaction of $1,176,189.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,441 shares of company stock valued at $5,617,770. 2.90% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Rehmann Capital Advisory Group acquired a new position in Invitae during the fourth quarter valued at $259,000. Sonora Investment Management LLC purchased a new stake in Invitae in the 4th quarter worth approximately $29,000. Orion Capital Management LLC acquired a new stake in shares of Invitae during the 4th quarter worth approximately $31,000. Eudaimonia Partners LLC purchased a new position in shares of Invitae during the 4th quarter valued at approximately $38,000. Finally, Perigon Wealth Management LLC acquired a new position in shares of Invitae in the 4th quarter valued at $59,000. Institutional investors and hedge funds own 78.60% of the company’s stock.

Invitae Company Profile (NYSE:NVTA)

Invitae Corporation, a medical genetics company, processes DNA-containing samples, analyzes information related to patient-specific genetic variation, and generates test reports for clinicians and their patients in the United States, Canada, and internationally. It offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, metabolic conditions, and rare diseases; prenatal and perinatal genetic tests; and non-invasive prenatal screening products.

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