Invitae (NYSE:NVTA – Get Rating) was upgraded by investment analysts at StockNews.com to a "sell" rating in a report issued on Friday.
Other analysts have also issued research reports about the stock. Raymond James lowered shares of Invitae from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 21st. Benchmark lowered shares of Invitae from a "buy" rating to a "hold" rating in a research report on Tuesday, July 19th. JPMorgan Chase & Co. lowered shares of Invitae from a "neutral" rating to an "underweight" rating in a research report on Wednesday, August 10th. LADENBURG THALM/SH SH lowered shares of Invitae from a "buy" rating to a "neutral" rating in a research report on Wednesday, July 20th. Finally, SVB Leerink lowered shares of Invitae from an "outperform" rating to a "market perform" rating in a research report on Tuesday, July 19th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat.com, Invitae currently has a consensus rating of "Hold" and an average price target of $13.56.
Get Invitae alerts:Invitae Stock Down 4.7 %
Invitae stock traded down $0.12 during midday trading on Friday, hitting $2.44. 6,350,107 shares of the stock were exchanged, compared to its average volume of 11,393,263. Invitae has a 52-week low of $1.83 and a 52-week high of $32.22. The stock has a market capitalization of $574.05 million, a price-to-earnings ratio of -0.18 and a beta of 1.58. The business's 50-day moving average price is $3.12 and its 200-day moving average price is $4.29. The company has a quick ratio of 6.07, a current ratio of 6.42 and a debt-to-equity ratio of 4.12.
Invitae (NYSE:NVTA – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The medical research company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.06. The business had revenue of $136.62 million for the quarter, compared to analyst estimates of $137.47 million. Invitae had a negative net margin of 620.70% and a negative return on equity of 29.91%. On average, research analysts expect that Invitae will post -4.1 EPS for the current fiscal year.Insider Buying and Selling
In related news, Director Sean E. George sold 22,085 shares of the company's stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $4.55, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Thomas Brida sold 7,048 shares of the company's stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $4.55, for a total transaction of $32,068.40. Following the sale, the insider now owns 386,267 shares of the company's stock, valued at approximately $1,757,514.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sean E. George sold 22,085 shares of the company's stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,735 shares of company stock valued at $152,009. Company insiders own 1.10% of the company's stock.
Hedge Funds Weigh In On Invitae
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tyler Stone Wealth Management purchased a new position in Invitae in the 4th quarter worth approximately $42,000. Operose Advisors LLC purchased a new position in Invitae in the 1st quarter worth approximately $32,000. Clearwater Capital Advisors LLC purchased a new position in Invitae in the 1st quarter worth approximately $82,000. Cetera Investment Advisers purchased a new position in Invitae in the 1st quarter worth approximately $82,000. Finally, SG Americas Securities LLC grew its stake in Invitae by 42.1% in the 1st quarter. SG Americas Securities LLC now owns 10,341 shares of the medical research company's stock worth $82,000 after buying an additional 3,062 shares in the last quarter. Hedge funds and other 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.
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