InVitae Corp (NVTA) Receives Consensus Rating of “Hold” from Brokerages
Shares of InVitae Corp (NYSE:NVTA) have been assigned a consensus rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $14.50.
Several equities research analysts have recently issued reports on the company. BidaskClub raised InVitae from a “hold” rating to a “buy” rating in a research report on Thursday, October 12th. Zacks Investment Research raised InVitae from a “hold” rating to a “strong-buy” rating and set a $11.00 target price for the company in a research report on Wednesday, October 11th. Ladenburg Thalmann Financial Services assumed coverage on InVitae in a research report on Friday. They set a “buy” rating and a $15.00 target price for the company. Finally, Leerink Swann decreased their target price on InVitae from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Tuesday, November 7th.
A number of institutional investors and hedge funds have recently made changes to their positions in NVTA. Verity Asset Management Inc. increased its holdings in InVitae by 0.8% in the 2nd quarter. Verity Asset Management Inc. now owns 10,607 shares of the medical research company’s stock worth $101,000 after acquiring an additional 81 shares during the last quarter. Lakeview Capital Partners LLC purchased a new stake in InVitae in the 3rd quarter worth about $117,000. Gabelli Funds LLC purchased a new stake in InVitae in the 3rd quarter worth about $131,000. State Board of Administration of Florida Retirement System purchased a new stake in InVitae in the 3rd quarter worth about $133,000. Finally, CAPROCK Group Inc. purchased a new stake in InVitae in the 3rd quarter worth about $139,000. 64.67% of the stock is owned by institutional investors.
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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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