Invitae (NVTA) Rating Increased to Sell at ValuEngine

Invitae (NYSE:NVTA) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued on Thursday.

Other equities analysts have also issued research reports about the stock. Benchmark lowered their price target on shares of Invitae from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, February 13th. Zacks Investment Research lowered shares of Invitae from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 15th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Invitae from $13.00 to $9.00 and set an “overweight” rating for the company in a research report on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $10.05.

NVTA stock opened at $7.27 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.53 and a quick ratio of 2.53. Invitae has a 1-year low of $4.35 and a 1-year high of $10.41. The firm has a market cap of $518.82 million, a price-to-earnings ratio of -2.74 and a beta of 1.03.

Invitae (NYSE:NVTA) last released its earnings results on Wednesday, May 9th. The medical research company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.05). The business had revenue of $27.67 million for the quarter, compared to the consensus estimate of $26.86 million. Invitae had a negative net margin of 154.96% and a negative return on equity of 127.38%. The firm’s revenue for the quarter was up 167.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.64) EPS. equities research analysts predict that Invitae will post -2.15 earnings per share for the current fiscal year.

In related news, COO E Lee Bendekgey sold 6,388 shares of the company’s stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $6.96, for a total value of $44,460.48. Following the completion of the sale, the chief operating officer now owns 52,396 shares of the company’s stock, valued at $364,676.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bros. Advisors Lp Baker acquired 1,111,111 shares of Invitae stock in a transaction that occurred on Wednesday, March 28th. The stock was bought at an average cost of $4.50 per share, with a total value of $4,999,999.50. The disclosure for this purchase can be found here. Insiders have sold 40,515 shares of company stock valued at $281,984 in the last 90 days. Insiders own 8.70% of the company’s stock.

A number of hedge funds have recently bought and sold shares of NVTA. Park West Asset Management LLC acquired a new stake in Invitae in the fourth quarter worth about $23,916,000. ARK Investment Management LLC lifted its holdings in Invitae by 44.1% in the fourth quarter. ARK Investment Management LLC now owns 2,104,798 shares of the medical research company’s stock worth $19,112,000 after purchasing an additional 643,860 shares during the period. CVI Holdings LLC acquired a new stake in Invitae in the first quarter worth about $2,126,000. BlackRock Inc. lifted its holdings in Invitae by 18.4% in the first quarter. BlackRock Inc. now owns 2,725,535 shares of the medical research company’s stock worth $12,782,000 after purchasing an additional 423,684 shares during the period. Finally, Perceptive Advisors LLC lifted its holdings in Invitae by 6.4% in the fourth quarter. Perceptive Advisors LLC now owns 2,004,500 shares of the medical research company’s stock worth $18,200,000 after purchasing an additional 120,000 shares during the period. 69.79% of the stock is owned by institutional investors and hedge funds.

Invitae Company Profile

Invitae Corporation, a genetic information company, processes DNA-containing samples, analyzes information related to patient-specific genetic variation, and generates test reports for clinicians and their patients in the United States, Canada, and internationally. The company's tests include multiple genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; proactive health and wellness screening; and preimplantation embryo testing and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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