InVitae (NYSE:NVTA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, January 4th.
According to Zacks, “Invitae Corporation is engaged in genetic diagnostics for hereditary disorders which include breast, colon and pancreatic cancer. It operates primarily in the United States, Israel and internationally. Invitae Corporation is headquartered in San Francisco, California. “
Several other research analysts have also commented on the stock. BidaskClub lowered shares of InVitae from a “sell” rating to a “strong sell” rating in a report on Wednesday, November 15th. Leerink Swann decreased their price target on shares of InVitae from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday, November 7th. Three analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $13.80.
InVitae (NVTA) traded down $0.39 during trading hours on Thursday, reaching $8.91. 340,100 shares of the company were exchanged, compared to its average volume of 698,900. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.33. InVitae has a 52 week low of $3.05 and a 52 week high of $10.41. The company has a market cap of $401.33 and a price-to-earnings ratio of -3.49.
A number of hedge funds have recently made changes to their positions in the stock. Daiwa SB Investments Ltd. purchased a new stake in InVitae during the 4th quarter valued at about $590,000. Perceptive Advisors LLC grew its position in InVitae by 190.1% during the 3rd quarter. Perceptive Advisors LLC now owns 1,884,500 shares of the medical research company’s stock valued at $17,657,000 after purchasing an additional 1,235,000 shares during the last quarter. Orbimed Advisors LLC grew its position in InVitae by 232.5% during the 3rd quarter. Orbimed Advisors LLC now owns 1,518,197 shares of the medical research company’s stock valued at $14,226,000 after purchasing an additional 1,061,531 shares during the last quarter. Allianz Asset Management GmbH grew its position in InVitae by 110.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 168,856 shares of the medical research company’s stock valued at $1,582,000 after purchasing an additional 88,674 shares during the last quarter. Finally, OxFORD Asset Management LLP purchased a new stake in InVitae during the 3rd quarter valued at about $180,000. 64.67% of the stock is currently owned by institutional investors.
InVitae Company Profile
Invitae Corporation utilizes an integrated portfolio of laboratory processes, software tools and informatics capabilities to process deoxyribonucleic acid (DNA)-containing samples, analyze information about patient-specific genetic variation and generate test reports for clinicians and their patients.
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