InVitae (NYSE:NVTA) Sees Large Volume Increase

InVitae Corp (NYSE:NVTA) shares saw strong trading volume on Friday . 10,804,881 shares traded hands during mid-day trading, an increase of 509% from the previous session’s volume of 1,773,786 shares.The stock last traded at $23.50 and had previously closed at $21.55.

A number of equities research analysts have weighed in on the company. Chardan Capital restated a “buy” rating and issued a $30.00 target price on shares of InVitae in a research report on Tuesday, June 11th. Zacks Investment Research upgraded InVitae from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Wednesday, April 24th. Finally, Oppenheimer upped their target price on InVitae from $21.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $25.20.

The stock has a market cap of $2.11 billion, a PE ratio of -12.11 and a beta of 2.35. The company has a quick ratio of 7.73, a current ratio of 7.73 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average of $19.06.

InVitae (NYSE:NVTA) last released its earnings results on Tuesday, May 7th. The medical research company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.01). The firm had revenue of $40.55 million during the quarter, compared to analyst estimates of $47.17 million. InVitae had a negative return on equity of 65.76% and a negative net margin of 81.52%. The business’s revenue for the quarter was up 46.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.66) earnings per share. Research analysts anticipate that InVitae Corp will post -1.91 earnings per share for the current fiscal year.

In other news, insider Robert L. Nussbaum sold 7,202 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $18.21, for a total transaction of $131,148.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katherine Stueland sold 3,789 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $19.36, for a total value of $73,355.04. The disclosure for this sale can be found here. Insiders sold 90,440 shares of company stock valued at $1,641,082 over the last 90 days. 5.70% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the company. Great West Life Assurance Co. Can lifted its position in shares of InVitae by 173.1% during the 4th quarter. Great West Life Assurance Co. Can now owns 7,920 shares of the medical research company’s stock valued at $84,000 after acquiring an additional 5,020 shares during the last quarter. Morgan Stanley lifted its position in shares of InVitae by 8.5% during the 3rd quarter. Morgan Stanley now owns 152,712 shares of the medical research company’s stock valued at $2,555,000 after acquiring an additional 11,957 shares during the last quarter. Perkins Capital Management Inc. acquired a new stake in shares of InVitae during the 1st quarter valued at $939,000. California Public Employees Retirement System acquired a new stake in shares of InVitae during the 4th quarter valued at $850,000. Finally, Fiera Capital Corp acquired a new stake in shares of InVitae during the 4th quarter valued at $1,977,000. Institutional investors own 78.93% of the company’s stock.

InVitae Company Profile (NYSE:NVTA)

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. Its tests include genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; and screening and testing services in reproductive health, including preimplantation and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.

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