InVitae (NYSE:NVTA) Shares Gap Up to $25.76

InVitae Corp (NYSE:NVTA) gapped up before the market opened on Wednesday . The stock had previously closed at $25.01, but opened at $25.76. InVitae shares last traded at $26.45, with a volume of 3,233,647 shares.

Several equities research analysts have weighed in on the company. Zacks Investment Research cut InVitae from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Chardan Capital restated a “buy” rating and set a $30.00 target price on shares of InVitae in a research note on Tuesday, June 11th. Benchmark restated a “buy” rating and set a $28.00 target price (up from $26.00) on shares of InVitae in a research note on Wednesday, August 7th. Leerink Swann set a $31.00 target price on InVitae and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Oppenheimer set a $34.00 target price on InVitae and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $28.17.

The company has a market capitalization of $2.33 billion, a P/E ratio of -12.37 and a beta of 2.53. The company has a current ratio of 7.18, a quick ratio of 7.18 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average price of $24.86 and a 200 day moving average price of $21.82.

InVitae (NYSE:NVTA) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported ($0.54) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.06). InVitae had a negative net margin of 83.69% and a negative return on equity of 58.48%. The firm had revenue of $53.48 million during the quarter, compared to the consensus estimate of $50.17 million. During the same quarter in the previous year, the company posted ($0.47) earnings per share. The firm’s revenue was up 43.3% on a year-over-year basis. On average, research analysts predict that InVitae Corp will post -2.11 EPS for the current year.

In related news, General Counsel Thomas Brida sold 13,663 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $25.29, for a total value of $345,537.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Randal W. Scott sold 30,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $17.60, for a total value of $528,000.00. The disclosure for this sale can be found here. Insiders sold a total of 137,547 shares of company stock valued at $3,215,811 over the last quarter. 5.70% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of NVTA. Dimensional Fund Advisors LP acquired a new stake in shares of InVitae during the 4th quarter valued at approximately $319,000. Two Sigma Advisers LP acquired a new stake in shares of InVitae during the 4th quarter valued at approximately $226,000. Pennsylvania Trust Co acquired a new stake in shares of InVitae during the 1st quarter valued at approximately $8,545,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of InVitae during the 1st quarter valued at approximately $2,137,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of InVitae during the 1st quarter valued at approximately $259,000. Institutional investors and hedge funds own 87.51% 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.

Further Reading: Retained Earnings

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.