Oppenheimer initiated coverage on shares of InVitae (NYSE:NVTA) in a research report report published on Wednesday, December 19th, The Fly reports. The brokerage issued an outperform rating and a $20.00 target price on the medical research company’s stock. Oppenheimer also issued estimates for InVitae’s Q4 2018 earnings at ($0.40) EPS, FY2018 earnings at ($1.94) EPS, FY2019 earnings at ($1.37) EPS and FY2020 earnings at ($0.70) EPS.
NVTA has been the topic of several other reports. ValuEngine raised shares of InVitae from a buy rating to a strong-buy rating in a research report on Wednesday, August 29th. Benchmark initiated coverage on shares of InVitae in a research report on Tuesday, November 20th. They issued a buy rating and a $17.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on shares of InVitae to $16.00 and gave the stock an overweight rating in a research report on Thursday, November 8th. Finally, William Blair reissued a market perform rating on shares of InVitae in a research report on Thursday, November 8th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. InVitae has a consensus rating of Buy and a consensus target price of $15.60.
InVitae stock traded down $0.44 during midday trading on Wednesday, reaching $13.65. 903,900 shares of the stock traded hands, compared to its average volume of 1,209,856. InVitae has a fifty-two week low of $4.35 and a fifty-two week high of $18.38. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -5.15 and a beta of 1.90. The company has a quick ratio of 3.90, a current ratio of 3.90 and a debt-to-equity ratio of 0.29.
InVitae (NYSE:NVTA) last released its earnings results on Wednesday, November 7th. The medical research company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.02. InVitae had a negative net margin of 109.60% and a negative return on equity of 103.37%. The business had revenue of $37.37 million for the quarter, compared to the consensus estimate of $34.80 million. During the same period in the previous year, the firm earned ($0.57) EPS. The business’s revenue for the quarter was up 105.9% on a year-over-year basis. Research analysts expect that InVitae will post -1.97 earnings per share for the current year.
In other news, insider Patty Dumond sold 2,000 shares of the business’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $12.90, for a total value of $25,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric Aguiar sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $13.50, for a total transaction of $135,000.00. The disclosure for this sale can be found here. Insiders sold 13,000 shares of company stock valued at $172,240 over the last three months. Insiders own 8.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new position in InVitae during the 3rd quarter valued at $102,000. BlueMountain Capital Management LLC acquired a new position in InVitae during the 3rd quarter valued at $110,000. Nikko Asset Management Americas Inc. acquired a new position in InVitae during the 3rd quarter valued at $136,000. Bank of Montreal Can acquired a new position in InVitae during the 2nd quarter valued at $155,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in InVitae by 67.5% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 22,273 shares of the medical research company’s stock valued at $164,000 after purchasing an additional 8,979 shares during the last quarter. Hedge funds and other institutional investors own 75.42% of the company’s stock.
InVitae Company Profile
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. The company's tests include multiple genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; proactive health and wellness screening; and preimplantation embryo testing and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.
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