Zacks Investment Research cut shares of InVitae (NYSE:NVTA) from a hold rating to a sell rating in a research report released on Thursday morning.
According to Zacks, “Invitae Corporation is engaged in genetic diagnostics for hereditary disorders which include breast, colon and pancreatic cancer. It operates primarily in the United States, Israel and internationally. Invitae Corporation is headquartered in San Francisco, California. “
NVTA has been the subject of a number of other research reports. BidaskClub cut InVitae from a hold rating to a sell rating in a research report on Wednesday, September 20th. Leerink Swann lowered their price target on InVitae from $14.00 to $12.00 and set an outperform rating for the company in a research report on Tuesday, November 7th. Three equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $13.80.
Shares of InVitae (NYSE:NVTA) opened at $10.05 on Thursday. InVitae has a 52-week low of $2.70 and a 52-week high of $10.41. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.61 and a current ratio of 2.61. The company has a market capitalization of $532.10, a PE ratio of -3.93 and a beta of 1.30.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVTA. Perceptive Advisors LLC raised its stake in shares of InVitae by 190.1% during the 3rd quarter. Perceptive Advisors LLC now owns 1,884,500 shares of the medical research company’s stock valued at $17,657,000 after buying an additional 1,235,000 shares during the last quarter. Orbimed Advisors LLC raised its stake in shares of InVitae by 232.5% during the 3rd quarter. Orbimed Advisors LLC now owns 1,518,197 shares of the medical research company’s stock valued at $14,226,000 after buying an additional 1,061,531 shares during the last quarter. Ark Investment Management LLC raised its stake in shares of InVitae by 30.4% during the 2nd quarter. Ark Investment Management LLC now owns 982,170 shares of the medical research company’s stock valued at $9,390,000 after buying an additional 229,189 shares during the last quarter. State Street Corp raised its stake in shares of InVitae by 43.1% during the 2nd quarter. State Street Corp now owns 577,978 shares of the medical research company’s stock valued at $5,528,000 after buying an additional 174,016 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of InVitae by 39.0% during the 2nd quarter. Northern Trust Corp now owns 433,113 shares of the medical research company’s stock valued at $4,140,000 after buying an additional 121,409 shares during the last quarter. Institutional investors and hedge funds own 64.67% of the company’s stock.
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Invitae Corporation utilizes an integrated portfolio of laboratory processes, software tools and informatics capabilities to process deoxyribonucleic acid (DNA)-containing samples, analyze information about patient-specific genetic variation and generate test reports for clinicians and their patients.
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