Invitae (NYSE:NVTA) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Invitae (NYSE:NVTAGet Free Report) in a research note issued to investors on Sunday. The brokerage set a “hold” rating on the medical research company’s stock.

Separately, The Goldman Sachs Group cut their target price on Invitae from $1.00 to $0.50 and set a “sell” rating for the company in a research note on Friday, October 20th.

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Invitae Price Performance

Shares of NYSE NVTA opened at $0.04 on Friday. The company has a market capitalization of $10.71 million, a P/E ratio of 0.00 and a beta of 1.59. The company has a 50 day simple moving average of $0.49 and a 200-day simple moving average of $0.68. Invitae has a 1 year low of $0.02 and a 1 year high of $2.34.

Institutional Trading of Invitae

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Longitude Cayman Ltd. grew its position in shares of Invitae by 17.6% during the second quarter. Longitude Cayman Ltd. now owns 600,000 shares of the medical research company’s stock worth $678,000 after buying an additional 90,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Invitae by 12.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,588,422 shares of the medical research company’s stock valued at $1,795,000 after buying an additional 179,611 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Invitae during the 3rd quarter worth about $29,000. ARK Investment Management LLC boosted its position in shares of Invitae by 2.1% during the 3rd quarter. ARK Investment Management LLC now owns 32,942,606 shares of the medical research company’s stock worth $19,937,000 after acquiring an additional 679,672 shares in the last quarter. Finally, Modera Wealth Management LLC increased its holdings in shares of Invitae by 349.9% in the 2nd quarter. Modera Wealth Management LLC now owns 50,931 shares of the medical research company’s stock valued at $58,000 after acquiring an additional 39,611 shares during the last quarter. Hedge funds and other institutional investors own 61.28% of the company’s stock.

Invitae Company Profile

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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.

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