InVitae Corp (NYSE:NVTA) shares shot up 6.4% on Tuesday . The stock traded as high as $9.24 and last traded at $9.18. 692,147 shares changed hands during trading, a decline of 15% from the average session volume of 809,958 shares. The stock had previously closed at $8.63.

Several brokerages recently weighed in on NVTA. BidaskClub cut InVitae from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Zacks Investment Research cut InVitae from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Leerink Swann cut their price objective on InVitae from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Tuesday, November 7th. Finally, Ladenburg Thalmann Financial Services started coverage on InVitae in a research report on Friday, January 5th. They issued a “buy” rating and a $15.00 price objective for the company. Three research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. InVitae presently has an average rating of “Hold” and an average target price of $13.80.

The firm has a market capitalization of $492.39 and a PE ratio of -3.65. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.61 and a current ratio of 2.61.

Several institutional investors have recently bought and sold shares of the company. Perceptive Advisors LLC increased its position in shares of InVitae by 190.1% in the third quarter. Perceptive Advisors LLC now owns 1,884,500 shares of the medical research company’s stock valued at $17,657,000 after buying an additional 1,235,000 shares in the last quarter. Orbimed Advisors LLC increased its position in shares of InVitae by 232.5% in the third quarter. Orbimed Advisors LLC now owns 1,518,197 shares of the medical research company’s stock valued at $14,226,000 after buying an additional 1,061,531 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of InVitae by 110.6% in the third quarter. Allianz Asset Management GmbH now owns 168,856 shares of the medical research company’s stock valued at $1,582,000 after buying an additional 88,674 shares in the last quarter. OxFORD Asset Management LLP purchased a new stake in shares of InVitae in the third quarter valued at approximately $180,000. Finally, Schwab Charles Investment Management Inc. increased its position in shares of InVitae by 28.1% in the third quarter. Schwab Charles Investment Management Inc. now owns 161,638 shares of the medical research company’s stock valued at $1,515,000 after buying an additional 35,455 shares in the last quarter. Institutional investors and hedge funds own 64.67% of the company’s stock.

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About InVitae

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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