Invitae (NVTA) Upgraded to “Sell” at ValuEngine

ValuEngine upgraded shares of Invitae (NYSE:NVTA) from a strong sell rating to a sell rating in a research report sent to investors on Thursday morning.

Other equities analysts also recently issued reports about the stock. Benchmark lowered their target price on shares of Invitae from $11.00 to $10.00 and set a buy rating on the stock in a research report on Tuesday, February 13th. Zacks Investment Research downgraded 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 target price on shares of Invitae from $13.00 to $9.00 and set an overweight rating on the stock in a research report on Tuesday, February 13th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $10.05.

Invitae stock opened at $7.82 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.53 and a current ratio of 2.53. The firm has a market cap of $518.82 million, a price-to-earnings ratio of -2.95 and a beta of 1.03. Invitae has a one year low of $4.35 and a one year high of $10.41.



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

In other Invitae news, CFO Shelly D. Guyer sold 5,135 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 transaction of $35,739.60. Following the completion of the sale, the chief financial officer now directly owns 39,865 shares in the company, valued at $277,460.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $44,460.48. Following the sale, the chief operating officer now owns 52,396 shares of the company’s stock, valued at $364,676.16. The disclosure for this sale can be found here. Insiders have sold 40,515 shares of company stock valued at $281,984 over the last 90 days. Corporate insiders own 8.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Stanley Laman Group Ltd. bought a new stake in shares of Invitae in the fourth quarter valued at about $1,054,000. Perceptive Advisors LLC lifted its stake in shares of Invitae by 6.4% in the fourth quarter. Perceptive Advisors LLC now owns 2,004,500 shares of the medical research company’s stock valued at $18,200,000 after buying an additional 120,000 shares during the period. ARK Investment Management LLC lifted its stake in shares of 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 valued at $19,112,000 after buying an additional 643,860 shares during the period. Teton Advisors Inc. lifted its stake in shares of Invitae by 33.3% in the fourth quarter. Teton Advisors Inc. now owns 100,041 shares of the medical research company’s stock valued at $908,000 after buying an additional 25,000 shares during the period. Finally, Private Wealth Partners LLC lifted its stake in shares of Invitae by 75.0% in the fourth quarter. Private Wealth Partners LLC now owns 171,500 shares of the medical research company’s stock valued at $1,557,000 after buying an additional 73,500 shares during the period. Institutional investors own 69.79% of the company’s stock.

About Invitae

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.

Receive News & Ratings for Invitae Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invitae and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply