Shares of InVitae Corp (NYSE:NVTA) have received an average rating of “Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $13.80.
A number of equities analysts have issued reports on the company. ValuEngine raised InVitae from a “hold” rating to a “buy” rating in a research report on Thursday, August 9th. Benchmark assumed coverage on InVitae in a research report on Tuesday, November 20th. They issued a “buy” rating and a $17.00 target price on the stock. Zacks Investment Research raised InVitae from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Tuesday, August 14th. William Blair reaffirmed a “market perform” rating on shares of InVitae in a research report on Thursday, November 8th. Finally, JPMorgan Chase & Co. upped their target price on InVitae to $16.00 and gave the company an “overweight” rating in a research report on Thursday, November 8th.
InVitae stock traded up $0.31 during midday trading on Monday, hitting $13.38. 18,885 shares of the company were exchanged, compared to its average volume of 1,121,697. The firm has a market capitalization of $975.25 million, a PE ratio of -4.94 and a beta of 1.84. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.90 and a current ratio of 3.90. InVitae has a fifty-two week low of $4.35 and a fifty-two week high of $18.38.
InVitae (NYSE:NVTA) last released its quarterly earnings results on Wednesday, November 7th. The medical research company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.02. The firm had revenue of $37.37 million for the quarter, compared to analyst estimates of $34.80 million. InVitae had a negative return on equity of 103.37% and a negative net margin of 109.60%. InVitae’s revenue for the quarter was up 105.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.57) EPS. On average, analysts forecast that InVitae will post -1.98 earnings per share for the current fiscal year.
In related news, insider Patty Dumond sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $12.90, for a total transaction of $25,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 3,530 shares of company stock worth $49,432. Corporate insiders own 8.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP bought a new position in InVitae during the 3rd quarter worth $102,000. BlueMountain Capital Management LLC bought a new position in InVitae during the 3rd quarter worth $110,000. Nikko Asset Management Americas Inc. bought a new position in InVitae during the 3rd quarter worth $136,000. Bank of Montreal Can bought a new position in InVitae during the 2nd quarter worth $155,000. Finally, Metropolitan Life Insurance Co. NY grew its stake in InVitae by 67.5% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 22,273 shares of the medical research company’s stock worth $164,000 after buying an additional 8,979 shares during the last quarter. 75.45% of the stock is currently owned by institutional investors and hedge funds.
InVitae Company Profile
Invitae Corporation, a genetic information 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. The company's tests include multiple genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; proactive health and wellness screening; and preimplantation embryo testing and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.
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