Invitae (NYSE:NVTA) Rating Increased to Sell at StockNews.com

Invitae (NYSE:NVTAGet Rating) was upgraded by analysts at StockNews.com to a “sell” rating in a research note issued on Friday.

NVTA has been the topic of several other reports. Cowen lowered shares of Invitae from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 26th. JPMorgan Chase & Co. lowered shares of Invitae from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 10th. William Blair reissued a “market perform” rating on shares of Invitae in a research report on Tuesday, November 8th. Credit Suisse Group began coverage on shares of Invitae in a research report on Wednesday, August 24th. They issued an “underperform” rating on the stock. Finally, Cowen increased their price objective on shares of Invitae to $2.80 in a research report on Tuesday, November 15th. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.04.

Invitae Stock Performance

NYSE NVTA opened at $2.84 on Friday. The company has a current ratio of 6.44, a quick ratio of 6.18 and a debt-to-equity ratio of 10.03. The firm’s fifty day moving average price is $2.65 and its two-hundred day moving average price is $2.99. Invitae has a 1 year low of $1.83 and a 1 year high of $19.79. The firm has a market capitalization of $689.84 million, a P/E ratio of -0.21 and a beta of 1.59.

Invitae (NYSE:NVTAGet Rating) last posted its quarterly earnings results on Tuesday, November 8th. The medical research company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.17. Invitae had a negative net margin of 617.65% and a negative return on equity of 39.04%. The firm had revenue of $133.54 million for the quarter, compared to analyst estimates of $132.80 million. As a group, research analysts anticipate that Invitae will post -2.43 EPS for the current year.

Institutional Trading of Invitae

Several large investors have recently modified their holdings of the stock. Financial Advocates Investment Management acquired a new stake in Invitae in the 3rd quarter valued at $206,000. Operose Advisors LLC acquired a new stake in Invitae in the 1st quarter valued at $32,000. AdvisorNet Financial Inc grew its position in Invitae by 61.0% in the 3rd quarter. AdvisorNet Financial Inc now owns 10,000 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 3,788 shares during the period. Credit Agricole S A acquired a new stake in Invitae in the 3rd quarter valued at $25,000. Finally, Clearwater Capital Advisors LLC acquired a new stake in Invitae in the 1st quarter valued at $82,000. Institutional investors and hedge funds own 88.27% of the company’s stock.

About Invitae

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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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