Trade Report: The InVitae Corp (NVTA) Upgraded at Zacks Investment Research

The InVitae Corp (NVTA) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of InVitae Corp (NASDAQ:NVTA) from a hold rating to a buy rating in a research report released on Saturday. The firm currently has $8.75 target price on the stock.

According to Zacks, “Invitae Corporation is engaged in genetic diagnostics for hereditary disorders which include breast, colon and pancreatic cancer. It operates primarily in the United States, Israel and internationally. Invitae Corporation is headquartered in San Francisco, California. “

Several other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of InVitae Corp from $12.00 to $14.00 and gave the stock an overweight rating in a report on Tuesday, August 9th. TheStreet lowered shares of InVitae Corp from a hold rating to a sell rating in a report on Thursday, September 15th. Finally, Benchmark Co. initiated coverage on shares of InVitae Corp in a report on Thursday, June 30th. They issued a hold rating and a $8.50 target price on the stock.

Shares of InVitae Corp (NASDAQ:NVTA) opened at 7.77 on Friday. The company’s market capitalization is $250.70 million. The company has a 50-day moving average of $8.19 and a 200-day moving average of $8.83. InVitae Corp has a one year low of $5.66 and a one year high of $11.85.

InVitae Corp (NASDAQ:NVTA) last posted its earnings results on Monday, August 8th. The company reported ($0.77) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by $0.01. The business had revenue of $5.60 million for the quarter, compared to the consensus estimate of $5.81 million. The business’s revenue for the quarter was up 211.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.76) EPS. On average, analysts anticipate that InVitae Corp will post ($2.96) earnings per share for the current year.

Several large investors have recently modified their holdings of NVTA. Rhumbline Advisers bought a new stake in shares of InVitae Corp during the second quarter worth approximately $122,000. Metropolitan Life Insurance Co. NY bought a new stake in shares of InVitae Corp during the second quarter worth approximately $142,000. Teachers Advisors Inc. raised its stake in shares of InVitae Corp by 244.2% in the second quarter. Teachers Advisors Inc. now owns 35,825 shares of the company’s stock worth $265,000 after buying an additional 25,416 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of InVitae Corp by 95.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 44,528 shares of the company’s stock worth $330,000 after buying an additional 21,794 shares during the last quarter. Finally, Polar Capital LLP bought a new stake in shares of InVitae Corp during the second quarter worth approximately $406,000.

InVitae Corp Company Profile

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.

Related posts

Leave a Comment