Shares of InVitae Corp (NYSE:NVTA) have been assigned an average recommendation of “Buy” from the eight brokerages that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $26.50.

NVTA has been the topic of several research reports. Benchmark lifted their price target on shares of InVitae from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday. Chardan Capital reissued a “buy” rating and set a $30.00 price target on shares of InVitae in a research note on Tuesday, June 11th. Oppenheimer initiated coverage on shares of Focus Financial Partners in a research note on Monday, April 8th. They set an “outperform” rating and a $48.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Heritage Insurance from a “hold” rating to a “strong sell” rating in a research note on Friday, April 26th.

NVTA traded down $0.18 on Tuesday, reaching $22.52. The company had a trading volume of 1,148,592 shares, compared to its average volume of 1,747,800. The business has a 50 day moving average of $20.91. The stock has a market capitalization of $2.04 billion, a P/E ratio of -11.61 and a beta of 2.52. The company has a debt-to-equity ratio of 0.37, a quick ratio of 7.73 and a current ratio of 7.73. InVitae has a 52-week low of $7.73 and a 52-week high of $26.77.

InVitae (NYSE:NVTA) last announced 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 company had revenue of $40.55 million during the quarter, compared to analysts’ expectations of $47.17 million. InVitae had a negative net margin of 81.52% and a negative return on equity of 65.76%. The company’s revenue for the quarter was up 46.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.66) earnings per share. On average, equities analysts expect that InVitae will post -1.93 EPS for the current fiscal year.

In related news, COO E Lee Bendekgey sold 4,657 shares of InVitae stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $18.78, for a total value of $87,458.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Katherine Stueland sold 3,789 shares of InVitae stock in a transaction on Monday, July 15th. The stock was sold at an average price of $22.49, for a total transaction of $85,214.61. The disclosure for this sale can be found here. Insiders have sold 93,229 shares of company stock worth $1,701,067 over the last three months. Insiders own 5.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. bought a new stake in InVitae in the first quarter valued at $26,000. Certified Advisory Corp bought a new stake in InVitae in the first quarter valued at $30,000. Signaturefd LLC bought a new stake in InVitae in the first quarter valued at $47,000. NumerixS Investment Technologies Inc bought a new stake in InVitae in the fourth quarter valued at $58,000. Finally, Great West Life Assurance Co. Can boosted its holdings in InVitae by 173.1% in the fourth 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 in the last quarter. 78.93% of the stock is currently owned by institutional investors.

About InVitae

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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Analyst Recommendations for InVitae (NYSE:NVTA)

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