StockNews.com Upgrades Invitae (NYSE:NVTA) to “Sell”

StockNews.com upgraded shares of Invitae (NYSE:NVTAGet Rating) to a sell rating in a research report report published on Wednesday morning.

Several other equities research analysts have also recently commented on the company. Cowen cut Invitae from an outperform rating to a market perform rating in a research note on Tuesday, July 26th. Benchmark cut Invitae from a buy rating to a hold rating in a research note on Tuesday, July 19th. Cowen cut Invitae from an outperform rating to a market perform rating in a research note on Tuesday, July 26th. LADENBURG THALM/SH SH cut Invitae from a buy rating to a neutral rating in a research note on Wednesday, July 20th. Finally, Raymond James cut Invitae from an outperform rating to a market perform rating in a research note on Thursday, July 21st. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $8.79.

Invitae Trading Up 16.1 %

NYSE NVTA opened at $3.61 on Wednesday. The stock has a market capitalization of $876.87 million, a price-to-earnings ratio of -0.26 and a beta of 1.59. The stock’s 50 day moving average price is $2.66 and its two-hundred day moving average price is $3.08. The company has a debt-to-equity ratio of 4.12, a quick ratio of 6.07 and a current ratio of 6.42. Invitae has a 52 week low of $1.83 and a 52 week high of $22.35.

Invitae (NYSE:NVTAGet Rating) last released its earnings results on Tuesday, November 8th. The medical research company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.17. The firm had revenue of $133.54 million for the quarter, compared to analysts’ expectations of $132.80 million. Invitae had a negative return on equity of 30.03% and a negative net margin of 617.65%. As a group, analysts anticipate that Invitae will post -2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Sean E. George sold 22,085 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $4.55, for a total transaction of $100,486.75. Following the transaction, the director now directly owns 788,656 shares of the company’s stock, valued at approximately $3,588,384.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Invitae news, insider Thomas Brida sold 7,048 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $4.55, for a total value of $32,068.40. Following the transaction, the insider now directly owns 386,267 shares of the company’s stock, valued at approximately $1,757,514.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sean E. George sold 22,085 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $4.55, for a total value of $100,486.75. Following the completion of the transaction, the director now directly owns 788,656 shares in the company, valued at $3,588,384.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,735 shares of company stock valued at $152,009. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVTA. CWM LLC grew its holdings in Invitae by 37.0% in the 1st quarter. CWM LLC now owns 12,137 shares of the medical research company’s stock valued at $97,000 after buying an additional 3,279 shares in the last quarter. TownSquare Capital LLC grew its holdings in shares of Invitae by 140.1% during the 1st quarter. TownSquare Capital LLC now owns 24,589 shares of the medical research company’s stock worth $196,000 after purchasing an additional 14,347 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in shares of Invitae by 15.4% during the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 21,025 shares of the medical research company’s stock worth $168,000 after purchasing an additional 2,800 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Invitae by 296.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 32,430 shares of the medical research company’s stock worth $258,000 after purchasing an additional 24,250 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Invitae by 42.1% during the 1st quarter. SG Americas Securities LLC now owns 10,341 shares of the medical research company’s stock worth $82,000 after purchasing an additional 3,062 shares in the last quarter. 88.27% of the stock is owned by institutional investors and hedge funds.

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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