Invitae (NYSE:NVTA – Get Free Report) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
A number of other analysts have also commented on the company. The Goldman Sachs Group decreased their price objective on Invitae from $1.50 to $1.00 and set a “sell” rating for the company in a report on Friday, July 21st. Raymond James cut Invitae from a “market perform” rating to an “underperform” rating in a research note on Monday, May 15th. Finally, Piper Sandler reduced their price objective on Invitae to $1.50 and set an “underweight” rating on the stock in a research note on Tuesday, August 15th. Five analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $2.08.
Invitae Stock Down 5.7 %
Shares of NYSE:NVTA opened at $1.00 on Thursday. The company has a quick ratio of 2.83, a current ratio of 2.97 and a debt-to-equity ratio of 15.68. The business has a fifty day simple moving average of $1.20 and a 200 day simple moving average of $1.38. Invitae has a 12-month low of $1.00 and a 12-month high of $4.20. The firm has a market cap of $267.01 million, a P/E ratio of -0.31 and a beta of 1.74.
Institutional Trading of Invitae
A number of large investors have recently made changes to their positions in NVTA. Cetera Investment Advisers purchased a new stake in shares of Invitae in the 1st quarter worth approximately $82,000. Bridgefront Capital LLC acquired a new stake in Invitae during the first quarter valued at $101,000. Captrust Financial Advisors lifted its holdings in Invitae by 501.1% during the second quarter. Captrust Financial Advisors now owns 14,396 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 12,001 shares in the last quarter. Aigen Investment Management LP purchased a new position in Invitae during the fourth quarter valued at $28,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Invitae in the first quarter worth about $126,000. 70.10% of the stock is currently owned by institutional investors.
About Invitae
Invitae Corporation, a medical genetics company, that provides genetic information to improve healthcare of people in the United States, Canada, and internationally. The company offers genetic tests in various clinical areas, including hereditary cancer, precision oncology, women’s health, rare diseases, and pharmacogenomics; digital health solutions; and health data services.