Invitae Co. (NYSE:NVTA) Given Average Recommendation of “Hold” by Brokerages

Posted by on Jun 18th, 2022

Invitae Co. (NYSE:NVTA – Get Rating) has earned a consensus rating of “Hold” from the seven brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $15.42.

A number of equities analysts recently commented on NVTA shares. The Goldman Sachs Group decreased their target price on Invitae from $14.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, April 19th. Benchmark cut their price target on Invitae from $13.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, June 13th. SVB Leerink cut their price target on Invitae from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, February 25th. Raymond James cut their price target on Invitae from $10.50 to $8.50 in a research note on Wednesday, May 4th. Finally, Piper Sandler started coverage on Invitae in a research note on Thursday, June 2nd. They issued an “underweight” rating for the company.

In other Invitae news, CEO Sean E. George sold 18,296 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $3.81, for a total value of $69,707.76. Following the completion of the sale, the chief executive officer now owns 794,691 shares of the company’s stock, valued at $3,027,772.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Yafei Wen sold 17,042 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $3.81, for a total transaction of $64,930.02. Following the completion of the sale, the chief financial officer now directly owns 344,374 shares of the company’s stock, valued at approximately $1,312,064.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,833 shares of company stock valued at $303,038. 1.90% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Operose Advisors LLC purchased a new position in Invitae during the first quarter valued at approximately $32,000. Concord Wealth Partners increased its holdings in Invitae by 179.2% during the fourth quarter. Concord Wealth Partners now owns 2,728 shares of the medical research company’s stock valued at $42,000 after buying an additional 1,751 shares during the period. Tyler Stone Wealth Management purchased a new position in Invitae during the fourth quarter valued at approximately $42,000. AdvisorNet Financial Inc increased its holdings in Invitae by 47.4% during the fourth quarter. AdvisorNet Financial Inc now owns 3,000 shares of the medical research company’s stock valued at $46,000 after buying an additional 965 shares during the period. Finally, Bourgeon Capital Management LLC grew its holdings in Invitae by 200.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 3,000 shares of the medical research company’s stock worth $46,000 after purchasing an additional 2,000 shares during the last quarter. 91.87% of the stock is owned by hedge funds and other institutional investors.

Shares of NVTA opened at $2.23 on Friday. The business’s fifty day simple moving average is $4.31 and its two-hundred day simple moving average is $8.94. The company has a current ratio of 6.14, a quick ratio of 5.88 and a debt-to-equity ratio of 0.56. Invitae has a 12 month low of $2.08 and a 12 month high of $35.51. The company has a market cap of $511.32 million, a price-to-earnings ratio of -0.69 and a beta of 1.92.

Invitae (NYSE:NVTA – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The medical research company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.02). The firm had revenue of $123.70 million for the quarter, compared to the consensus estimate of $129.31 million. Invitae had a negative net margin of 148.62% and a negative return on equity of 24.48%. Invitae’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.63) earnings per share. As a group, research analysts forecast that Invitae will post -2.86 EPS for the current year.

Invitae Company Profile (Get Rating)

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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