InVitae Corp (NASDAQ:NVTA) was downgraded by research analysts at TheStreet from a “hold” rating to a “sell” rating in a report released on Thursday.

A number of other brokerages have also recently weighed in on NVTA. Zacks Investment Research cut InVitae Corp from a “buy” rating to a “hold” rating in a research note on Thursday, July 21st. JPMorgan Chase & Co. lifted their target price on InVitae Corp from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, August 9th. Finally, Benchmark Co. assumed coverage on InVitae Corp in a report on Thursday, June 30th. They issued a “hold” rating and a $8.50 target price for the company.

InVitae Corp (NASDAQ:NVTA) opened at 8.18 on Thursday. InVitae Corp has a one year low of $5.66 and a one year high of $11.85. The stock has a 50 day moving average price of $8.53 and a 200-day moving average price of $8.94. The firm’s market capitalization is $263.93 million.

InVitae Corp (NASDAQ:NVTA) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.77) earnings per share 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 analyst estimates of $5.81 million. During the same period in the previous year, the firm earned ($0.76) earnings per share. The company’s quarterly revenue was up 211.1% on a year-over-year basis. On average, analysts predict that InVitae Corp will post ($2.96) earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVTA. Schwab Charles Investment Management Inc. raised its position 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 period. Metropolitan Life Insurance Co. NY acquired a new stake in shares of InVitae Corp during the second quarter worth about $142,000. Polar Capital LLP acquired a new stake in shares of InVitae Corp during the second quarter worth about $406,000. State Street Corp increased its stake in shares of 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 period. Finally, Rhumbline Advisers acquired a new stake in shares of InVitae Corp during the second quarter worth about $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.

5 Day Chart for NASDAQ:NVTA

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