InVitae Corp (NVTA) Receives Consensus Rating of “Buy” from Brokerages
InVitae Corp (NASDAQ:NVTA) has received an average rating of “Buy” from the six analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $15.50.
A number of research analysts recently issued reports on NVTA shares. Zacks Investment Research cut shares of InVitae Corp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. BidaskClub raised shares of InVitae Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $15.00 price target (up from $14.00) on shares of InVitae Corp in a research report on Wednesday, August 9th.
A number of institutional investors have recently modified their holdings of the business. California State Teachers Retirement System raised its holdings in InVitae Corp by 24.1% in the second quarter. California State Teachers Retirement System now owns 69,009 shares of the medical research company’s stock worth $660,000 after buying an additional 13,400 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in InVitae Corp by 34.5% in the second quarter. The Manufacturers Life Insurance Company now owns 32,129 shares of the medical research company’s stock worth $307,000 after buying an additional 8,244 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in InVitae Corp in the second quarter worth about $202,000. State Street Corp raised its holdings in InVitae Corp by 43.1% in the second quarter. State Street Corp now owns 577,978 shares of the medical research company’s stock worth $5,528,000 after buying an additional 174,016 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in InVitae Corp by 131.3% in the second quarter. Royal Bank of Canada now owns 126,631 shares of the medical research company’s stock worth $1,210,000 after buying an additional 71,892 shares during the last quarter.
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InVitae Corp (NASDAQ NVTA) traded up 2.27% during midday trading on Friday, hitting $9.92. 251,620 shares of the company were exchanged. The stock has a 50 day moving average of $9.49 and a 200 day moving average of $9.49. InVitae Corp has a 1-year low of $5.76 and a 1-year high of $11.88. The firm’s market capitalization is $484.21 million.
InVitae Corp (NASDAQ:NVTA) last issued its quarterly earnings results on Monday, August 7th. The medical research company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.02). InVitae Corp had a negative net margin of 199.20% and a negative return on equity of 153.27%. The business had revenue of $14.34 million for the quarter, compared to analysts’ expectations of $13.31 million. During the same period last year, the business earned ($0.77) earnings per share. The company’s revenue was up 157.0% on a year-over-year basis. On average, equities analysts predict that InVitae Corp will post ($2.35) earnings per share for the current fiscal year.
InVitae Corp Company Profile
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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