Invitae (NYSE:NVTA) PT Lowered to $10.00 at The Goldman Sachs Group

Invitae (NYSE:NVTAGet Rating) had its price target decreased by equities researchers at The Goldman Sachs Group from $14.00 to $10.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 59.24% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley decreased their price target on Invitae from $37.00 to $18.00 and set an “equal weight” rating for the company in a report on Tuesday, February 15th. Zacks Investment Research cut Invitae from a “buy” rating to a “hold” rating in a report on Friday, February 18th. SVB Leerink dropped their price objective on Invitae from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, February 25th. Finally, Raymond James decreased their target price on Invitae from $15.00 to $10.50 and set an “outperform” rating on the stock in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $19.36.

Invitae stock traded up $0.18 during midday trading on Tuesday, reaching $6.28. The company’s stock had a trading volume of 66,658 shares, compared to its average volume of 6,111,801. The firm’s 50-day moving average is $8.56. Invitae has a 52 week low of $6.04 and a 52 week high of $38.42. The firm has a market cap of $1.42 billion, a PE ratio of -2.09 and a beta of 1.76. The company has a current ratio of 8.18, a quick ratio of 7.95 and a debt-to-equity ratio of 0.53.

Invitae (NYSE:NVTAGet Rating) last posted its quarterly earnings data on Thursday, February 24th. The medical research company reported ($0.81) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.74) by ($0.07). Invitae had a negative return on equity of 23.52% and a negative net margin of 139.38%. The company had revenue of $126.12 million during the quarter, compared to analyst estimates of $125.90 million. During the same period in the prior year, the firm earned ($0.63) earnings per share. Invitae’s revenue was up 25.6% compared to the same quarter last year. Research analysts anticipate that Invitae will post -2.97 EPS for the current fiscal year.

In related news, General Counsel Thomas Brida sold 17,987 shares of the business’s stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $6.69, for a total transaction of $120,333.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sean E. George sold 31,389 shares of the business’s stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $6.69, for a total value of $209,992.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,611 shares of company stock valued at $499,148. Corporate insiders own 1.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of NVTA. Knights of Columbus Asset Advisors LLC raised its holdings in Invitae by 157.3% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 115,156 shares of the medical research company’s stock valued at $3,274,000 after buying an additional 70,394 shares during the period. Bourgeon Capital Management LLC bought a new position in Invitae in the 3rd quarter valued at $28,000. Rafferty Asset Management LLC grew its position in Invitae by 38.3% in the 3rd quarter. Rafferty Asset Management LLC now owns 115,595 shares of the medical research company’s stock valued at $3,286,000 after acquiring an additional 32,041 shares during the last quarter. CWM LLC bought a new position in Invitae in the 4th quarter valued at $135,000. Finally, Brighton Jones LLC grew its position in Invitae by 77.0% in the 4th quarter. Brighton Jones LLC now owns 33,325 shares of the medical research company’s stock valued at $509,000 after acquiring an additional 14,499 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

About Invitae (Get Rating)

Invitae Corporation, a medical genetics company, integrates genetic information into mainstream medicine to improve healthcare of people in the United States, Canada, and internationally. The company offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, oncology, metabolic conditions, and rare diseases; digital health solutions; and health data services.

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