InVitae Corp (NASDAQ:NVTA) Receives Consensus Rating of “Buy” from Brokerages
Shares of InVitae Corp (NASDAQ:NVTA) have been given an average broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company. InVitae Corp’s rating score has improved by 14.2% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Zacks has also given InVitae Corp an industry rank of 189 out of 265 based on the ratings given to its competitors.
A number of research analysts recently weighed in on the company. Benchmark Co. assumed coverage on InVitae Corp in a research report on Thursday, June 30th. They set a “hold” rating and a $8.50 price objective for the company. Zacks Investment Research raised InVitae Corp from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research report on Wednesday, July 20th. JPMorgan Chase & Co. raised their price objective on InVitae Corp from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. Finally, TheStreet lowered InVitae Corp from a “hold” rating to a “sell” rating in a research report on Thursday.
Shares of InVitae Corp (NASDAQ:NVTA) traded down 2.08% on Monday, hitting $8.01. The stock had a trading volume of 34,774 shares. The stock’s market cap is $258.44 million. InVitae Corp has a 12 month low of $5.66 and a 12 month high of $11.85. The stock has a 50 day moving average of $8.53 and a 200-day moving average of $8.94.
InVitae Corp (NASDAQ:NVTA) last released its earnings results on Monday, August 8th. The company reported ($0.77) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.76) by $0.01. The firm earned $5.60 million during the quarter, compared to the consensus estimate of $5.81 million. The firm’s revenue for the quarter was up 211.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.76) EPS. Equities research analysts anticipate that InVitae Corp will post ($2.96) EPS for the current year.
Several hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised 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 worth $330,000 after buying an additional 21,794 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in InVitae Corp during the second quarter worth approximately $142,000. Polar Capital LLP acquired a new stake in InVitae Corp during the second quarter worth approximately $406,000. State Street Corp raised its stake in InVitae Corp by 287.8% in the second quarter. State Street Corp now owns 272,171 shares of the company’s stock worth $2,010,000 after buying an additional 201,995 shares during the last quarter. Finally, Rhumbline Advisers acquired a new stake in InVitae Corp during the second quarter worth approximately $122,000.
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.
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