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Invitae (NYSE:NVTA) Shares Gap Down to $3.13

Financial News Live · Sep 20, 2022 12:33

Shares of Invitae Co. (NYSE:NVTA – Get Rating) gapped down prior to trading on Tuesday . The stock had previously closed at $3.13, but opened at $3.01. Invitae shares last traded at $2.93, with a volume of 52,596 shares traded.

Analysts Set New Price Targets

NVTA has been the topic of several research analyst reports. StockNews.com upgraded Invitae to a "sell" rating in a research report on Thursday, September 1st. Cowen downgraded shares of Invitae from an "outperform" rating to a "market perform" rating in a research report on Tuesday, July 26th. SVB Leerink cut shares of Invitae from an "outperform" rating to a "market perform" rating in a report on Tuesday, July 19th. LADENBURG THALM/SH SH lowered shares of Invitae from a "buy" rating to a "neutral" rating in a report on Wednesday, July 20th. Finally, Raymond James downgraded Invitae from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 21st. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $13.56.

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Invitae Stock Performance

The company's 50 day simple moving average is $3.13 and its 200 day simple moving average is $4.39. The company has a debt-to-equity ratio of 4.12, a quick ratio of 6.07 and a current ratio of 6.42. The stock has a market cap of $712.87 million, a PE ratio of -0.23 and a beta of 1.58.

Invitae (NYSE:NVTA – Get Rating) last issued its quarterly earnings results on Tuesday, August 9th. The medical research company reported ($0.68) EPS for the quarter, beating analysts' consensus estimates of ($0.74) by $0.06. The company had revenue of $136.62 million during the quarter, compared to the consensus estimate of $137.47 million. Invitae had a negative return on equity of 29.91% and a negative net margin of 620.70%. Analysts expect that Invitae Co. will post -2.45 earnings per share for the current year.

Insider Activity at Invitae

In related news, Director Sean E. George sold 22,085 shares of the business's stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $4.55, for a total transaction of $100,486.75. Following the sale, the director now directly owns 788,656 shares in the company, valued at approximately $3,588,384.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Thomas Brida sold 7,048 shares of Invitae stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $4.55, for a total transaction of $32,068.40. Following the completion of the sale, the insider now owns 386,267 shares of the company's stock, valued at $1,757,514.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sean E. George sold 22,085 shares of Invitae stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $4.55, for a total value of $100,486.75. Following the sale, the director now owns 788,656 shares of the company's stock, valued at approximately $3,588,384.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,735 shares of company stock worth $152,009. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Invitae

Several institutional investors and hedge funds have recently made changes to their positions in NVTA. MQS Management LLC purchased a new stake in shares of Invitae during the second quarter worth about $28,000. Tarbox Family Office Inc. grew its position in shares of Invitae by 5,962.0% in the 2nd quarter. Tarbox Family Office Inc. now owns 12,427 shares of the medical research company's stock worth $30,000 after buying an additional 12,222 shares during the last quarter. Xponance Inc. purchased a new stake in Invitae in the second quarter worth $30,000. Oppenheimer & Co. Inc. bought a new stake in Invitae in the second quarter valued at $30,000. Finally, Commerce Bank bought a new stake in Invitae during the 2nd quarter valued at approximately $30,000. Institutional investors own 88.27% of the company's stock.

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.