InVitae Corp (NASDAQ:NVTA) has been assigned an average broker rating score of 1.50 (Buy) from the four analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and three have assigned a strong buy recommendation to the company. InVitae Corp’s rating score has improved by 25% from three months ago as a result of a number of analysts’ ratings changes.
Brokers have set a twelve-month consensus price target of $13.00 for the company and are predicting that the company will post ($0.66) earnings per share for the current quarter, according to Zacks. Zacks has also assigned InVitae Corp an industry rank of 150 out of 265 based on the ratings given to related companies.
A number of research firms have commented on NVTA. Benchmark Co. reaffirmed a “neutral” rating on shares of InVitae Corp in a report on Tuesday, November 8th. Zacks Investment Research lowered shares of InVitae Corp from a “buy” rating to a “hold” rating in a report on Saturday, November 19th. TheStreet lowered shares of InVitae Corp from a “hold” rating to a “sell” rating in a report on Thursday, September 15th. Leerink Swann started coverage on shares of InVitae Corp in a report on Thursday, November 10th. They issued an “outperform” rating and a $12.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of InVitae Corp from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, August 9th.
InVitae Corp (NASDAQ:NVTA) opened at 7.35 on Monday. The firm’s 50-day moving average is $7.55 and its 200 day moving average is $8.23. The firm’s market capitalization is $238.47 million. InVitae Corp has a 52-week low of $5.66 and a 52-week high of $11.85.
InVitae Corp (NASDAQ:NVTA) last released its earnings results on Monday, November 7th. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by $0.05. The business had revenue of $6.30 million for the quarter, compared to analysts’ expectations of $7.50 million. During the same period in the previous year, the company earned ($0.71) earnings per share. The business’s revenue for the quarter was up 186.4% on a year-over-year basis. Equities analysts anticipate that InVitae Corp will post ($3.02) EPS for the current year.
In related news, major shareholder Bros. Advisors Lp Baker acquired 733,333 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The shares were acquired at an average cost of $6.00 per share, with a total value of $4,399,998.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Geoffrey Crouse acquired 15,000 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The stock was bought at an average cost of $6.25 per share, for a total transaction of $93,750.00. Following the completion of the transaction, the director now directly owns 34,259 shares in the company, valued at approximately $214,118.75. The disclosure for this purchase can be found here.
A number of large investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. boosted its stake in InVitae Corp by 95.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 44,528 shares of the company’s stock valued at $330,000 after buying an additional 21,794 shares in the last quarter. BlackRock Inc. boosted its stake in InVitae Corp by 1.2% in the third quarter. BlackRock Inc. now owns 33,064 shares of the company’s stock valued at $290,000 after buying an additional 408 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in InVitae Corp by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 64,269 shares of the company’s stock valued at $563,000 after buying an additional 1,186 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new stake in InVitae Corp during the second quarter valued at approximately $142,000. Finally, Polar Capital LLP bought a new stake in InVitae Corp during the second quarter valued at approximately $406,000.
About InVitae Corp
Invitae Corporation (Invitae) 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.