BidaskClub Lowers InVitae Corp (NVTA) to Sell
BidaskClub cut shares of InVitae Corp (NASDAQ:NVTA) from a hold rating to a sell rating in a research note released on Thursday morning.
Several other research analysts have also recently commented on the company. Zacks Investment Research cut InVitae Corp from a strong-buy rating to a hold rating in a research report on Tuesday, October 17th. J P Morgan Chase & Co reissued an overweight rating and set a $15.00 price target (up from $14.00) on shares of InVitae Corp in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $13.50.
InVitae Corp (NASDAQ:NVTA) traded down $0.12 during trading on Thursday, hitting $8.31. 252,639 shares of the stock traded hands, compared to its average volume of 290,454. InVitae Corp has a 52-week low of $5.76 and a 52-week high of $11.88.
InVitae Corp (NASDAQ:NVTA) last posted its quarterly earnings data on Monday, November 6th. The medical research company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.37). InVitae Corp had a negative return on equity of 153.27% and a negative net margin of 199.20%.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Verity Asset Management Inc. increased its stake in shares of InVitae Corp by 0.8% during the second quarter. Verity Asset Management Inc. now owns 10,607 shares of the medical research company’s stock worth $101,000 after purchasing an additional 81 shares during the period. Lakeview Capital Partners LLC bought a new position in shares of InVitae Corp during the third quarter worth approximately $117,000. Donald L. Hagan LLC increased its stake in InVitae Corp by 30.0% during the 2nd quarter. Donald L. Hagan LLC now owns 13,000 shares of the medical research company’s stock worth $124,000 after acquiring an additional 3,000 shares during the period. Gabelli Funds LLC bought a new position in InVitae Corp during the 3rd quarter worth $131,000. Finally, State Board of Administration of Florida Retirement System bought a new position in InVitae Corp during the 3rd quarter worth $133,000.
About InVitae Corp
Invitae Corporation 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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