InVitae (NVTA) Shares Down 11.3%

InVitae Corp (NYSE:NVTA) shares traded down 11.3% on Thursday . The company traded as low as $12.21 and last traded at $12.83. 3,231,419 shares traded hands during trading, an increase of 207% from the average session volume of 1,051,067 shares. The stock had previously closed at $14.46.

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on InVitae to $16.00 and gave the company an “overweight” rating in a report on Thursday. ValuEngine raised InVitae from a “hold” rating to a “buy” rating in a report on Thursday, August 9th. Finally, Zacks Investment Research lowered InVitae from a “buy” rating to a “hold” rating in a report on Saturday, August 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $12.40.

The company has a debt-to-equity ratio of 0.42, a current ratio of 3.75 and a quick ratio of 3.75. The firm has a market capitalization of $990.15 million, a P/E ratio of -4.84 and a beta of 1.84.

InVitae (NYSE:NVTA) last issued its quarterly earnings data on Wednesday, November 7th. The medical research company reported ($0.45) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.02. InVitae had a negative return on equity of 111.27% and a negative net margin of 125.03%. The company had revenue of $37.37 million during the quarter, compared to analyst estimates of $34.80 million. During the same quarter in the previous year, the firm earned ($0.57) earnings per share. InVitae’s revenue was up 105.9% on a year-over-year basis. On average, analysts anticipate that InVitae Corp will post -2.03 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of NVTA. BlackRock Inc. grew its holdings in shares of InVitae by 18.4% during the first quarter. BlackRock Inc. now owns 2,725,535 shares of the medical research company’s stock worth $12,782,000 after purchasing an additional 423,684 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of InVitae during the first quarter worth about $247,000. Daiwa SB Investments Ltd. grew its holdings in shares of InVitae by 33.3% during the second quarter. Daiwa SB Investments Ltd. now owns 501,847 shares of the medical research company’s stock worth $3,689,000 after purchasing an additional 125,322 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of InVitae during the second quarter worth about $155,000. Finally, Adviser Investments LLC purchased a new position in shares of InVitae during the second quarter worth about $426,000. 73.78% of the stock is owned by institutional investors.

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About InVitae (NYSE:NVTA)

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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