Invitae (NYSE:NVTA – Get Free Report) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.
Several other research firms also recently commented on NVTA. Piper Sandler dropped their price objective on Invitae to $1.50 and set an “underweight” rating on the stock in a research note on Tuesday, August 15th. The Goldman Sachs Group dropped their target price on Invitae from $1.50 to $1.00 and set a “sell” rating on the stock in a research report on Friday, July 21st. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat, Invitae currently has a consensus rating of “Reduce” and an average target price of $2.08.
Invitae Price Performance
Invitae stock opened at $0.73 on Thursday. Invitae has a 12 month low of $0.73 and a 12 month high of $3.78. The company has a current ratio of 2.97, a quick ratio of 2.83 and a debt-to-equity ratio of 15.68. The business’s 50 day simple moving average is $1.08 and its 200 day simple moving average is $1.21. The company has a market cap of $195.50 million, a price-to-earnings ratio of -0.23 and a beta of 1.70.
Invitae (NYSE:NVTA – Get Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The medical research company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.07. Invitae had a negative return on equity of 6,100.71% and a negative net margin of 161.92%. The business had revenue of $120.53 million for the quarter, compared to the consensus estimate of $121.19 million. Sell-side analysts forecast that Invitae will post -1.41 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Strategic Blueprint LLC bought a new position in shares of Invitae in the first quarter worth $25,000. Veritable L.P. bought a new position in Invitae in the first quarter valued at $25,000. Versor Investments LP bought a new position in Invitae in the second quarter valued at $27,000. Aigen Investment Management LP bought a new position in Invitae in the fourth quarter valued at $28,000. Finally, Private Advisor Group LLC increased its stake in Invitae by 114.1% in the second quarter. Private Advisor Group LLC now owns 25,012 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 13,330 shares during the last quarter. Institutional investors own 61.28% of the company’s stock.
About Invitae
Invitae Corporation, a medical genetics company, that provides genetic information to improve healthcare of people in the United States, Canada, and internationally. The company offers genetic tests in various clinical areas, including hereditary cancer, precision oncology, women’s health, rare diseases, and pharmacogenomics; digital health solutions; and health data services.