Invitae (NYSE:NVTA) Upgraded by StockNews.com to “Sell”

StockNews.com upgraded shares of Invitae (NYSE:NVTAGet Rating) to a sell rating in a report published on Wednesday morning.

Other research analysts have also recently issued research reports about the stock. LADENBURG THALM/SH SH cut shares of Invitae from a buy rating to a neutral rating in a research note on Wednesday, July 20th. JPMorgan Chase & Co. cut shares of Invitae from a neutral rating to an underweight rating in a research note on Wednesday, August 10th. Raymond James cut shares of Invitae from an outperform rating to a market perform rating in a research report on Thursday, July 21st. SVB Leerink lifted their target price on shares of Invitae from $2.50 to $3.00 and gave the stock a market perform rating in a report on Wednesday. Finally, Cowen lowered shares of Invitae from an outperform rating to a market perform rating in a report on Tuesday, July 26th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $8.79.

Invitae Stock Down 3.0 %

Shares of NVTA opened at $2.28 on Wednesday. The stock has a market cap of $536.42 million, a price-to-earnings ratio of -0.16 and a beta of 1.59. The company has a quick ratio of 6.07, a current ratio of 6.42 and a debt-to-equity ratio of 4.12. Invitae has a 12 month low of $1.83 and a 12 month high of $22.58. The company has a 50-day moving average price of $2.64 and a two-hundred day moving average price of $3.09.

Invitae (NYSE:NVTAGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The medical research company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.17. The firm had revenue of $133.54 million during the quarter, compared to analysts’ expectations of $132.80 million. Invitae had a negative net margin of 620.70% and a negative return on equity of 29.91%. Equities analysts predict that Invitae will post -2.62 EPS for the current fiscal year.

Insider Activity at Invitae

In related news, Director Sean E. George sold 22,085 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $4.55, for a total value of $100,486.75. Following the transaction, the director now owns 788,656 shares in the company, valued at approximately $3,588,384.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Sean E. George sold 22,085 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $4.55, for a total value of $100,486.75. Following the transaction, the director now owns 788,656 shares in the company, valued at approximately $3,588,384.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas Brida sold 7,048 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $4.55, for a total transaction of $32,068.40. Following the transaction, the insider now owns 386,267 shares in the company, valued at approximately $1,757,514.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,735 shares of company stock worth $152,009. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. MQS Management LLC acquired a new position in shares of Invitae during the 2nd quarter worth approximately $28,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Invitae by 17.1% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 941,204 shares of the medical research company’s stock worth $2,297,000 after acquiring an additional 137,742 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Invitae by 71.7% during the 2nd quarter. Jennison Associates LLC now owns 314,605 shares of the medical research company’s stock worth $768,000 after acquiring an additional 131,386 shares in the last quarter. Green Alpha Advisors LLC boosted its position in shares of Invitae by 500.0% during the 2nd quarter. Green Alpha Advisors LLC now owns 497,469 shares of the medical research company’s stock worth $1,214,000 after acquiring an additional 414,563 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Invitae by 86.3% during the 1st quarter. American Century Companies Inc. now owns 661,669 shares of the medical research company’s stock worth $5,273,000 after acquiring an additional 306,473 shares in the last quarter. Institutional investors and hedge funds own 88.27% of the company’s stock.

Invitae Company Profile

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Invitae Corporation, a medical genetics company, integrates genetic information into mainstream medicine to improve healthcare of people in the United States, Canada, and internationally. The company offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, oncology, metabolic conditions, and rare diseases; digital health solutions; and health data services.

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