InVitae Corp (NASDAQ:NVTA) Given “Overweight” Rating at J P Morgan Chase & Co

InVitae Corp (NASDAQ:NVTA)‘s stock had its “overweight” rating restated by stock analysts at J P Morgan Chase & Co in a report released on Wednesday. They currently have a $15.00 price target on the medical research company’s stock, up from their prior price target of $14.00. J P Morgan Chase & Co’s price objective would indicate a potential upside of 62.69% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of InVitae Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. ValuEngine cut shares of InVitae Corp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 23rd. Finally, BidaskClub raised shares of InVitae Corp from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $12.94.

InVitae Corp (NVTA) traded down 0.11% during midday trading on Wednesday, reaching $9.22. The company’s stock had a trading volume of 356,612 shares. InVitae Corp has a 52 week low of $5.76 and a 52 week high of $11.88. The firm has a 50 day moving average price of $9.56 and a 200-day moving average price of $9.76. The firm’s market cap is $390.14 million.

InVitae Corp (NASDAQ:NVTA) last announced its quarterly earnings data 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. The firm had revenue of $14.34 million during the quarter, compared to the consensus estimate of $13.31 million. InVitae Corp had a negative net margin of 199.20% and a negative return on equity of 153.27%. The business’s revenue was up 157.0% compared to the same quarter last year. During the same period last year, the business earned ($0.77) earnings per share. On average, analysts forecast that InVitae Corp will post ($2.40) earnings per share for the current fiscal year.

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Hedge funds have recently modified their holdings of the stock. Donald L. Hagan LLC bought a new stake in shares of InVitae Corp during the first quarter worth $111,000. Verity Asset Management Inc. bought a new stake in shares of InVitae Corp during the first quarter worth $116,000. Nationwide Fund Advisors raised its stake in shares of InVitae Corp by 21.1% in the first quarter. Nationwide Fund Advisors now owns 17,121 shares of the medical research company’s stock worth $189,000 after buying an additional 2,987 shares in the last quarter. American International Group Inc. raised its stake in shares of InVitae Corp by 31.3% in the first quarter. American International Group Inc. now owns 17,174 shares of the medical research company’s stock worth $190,000 after buying an additional 4,090 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of InVitae Corp during the first quarter worth $200,000.

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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