Invitae Corporation (NYSE:NVTA) does about 8.33M shares in volume on a normal day but saw 8662597 shares change hands in Monday trading. The company now has a market cap of 629.29M USD. Its current market price is $2.73, marking an increase of 7.06% compared to the previous close of $2.55. The 52 week high reached by this stock is $12.04 whilst the lowest price level in 52 weeks is $1.67. The script in recent trading has seen the stock touch a high of $2.78 and a low of $2.52.
Invitae Corporation (NVTA) has a 20-day trading average at $2.14 and the current price is -77.33% off the 52-week high compared with 63.47% distance from its 52-week low. The 50-day simple moving average of the closing price is $2.43 and its 200-day simple moving average is $3.14. If we look at the stock’s price movements over the week, volatility stands at 10.89%, which decreases to 9.66% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 64.84 to suggest the stock is neutral.
11 analysts observing the Invitae Corporation (NVTA) stock have set the 12-month price targets for the company’s shares at between $1.00 and $4.00. The consensus objective for the share price is $2.84, suggesting that the stock has a potential upside of 3.87% over the period. The median price target is 5.86% away from the current levels at $2.90.
FactSet Research has provided data showing that 11 brokerages have issued ratings for the stock. 3 analysts have rated it as a sell, while 0 advise that it is a overweight. 0 analysts have rated it as a buy and 8 have advised that investors hold their positions. The consensus recommendation rating is Underweight and Wall Street’s advice is for investors to Hold the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on August 25, 2022 when Credit Suisse initiated the stock to “Underperform” and issued a price target of $1. Cowen downgraded its price target at $8-$2.50.
The current price level is 29.97%, 12.68%, and -13.89% away from its SMA20, SMA50, and SMA200 respectively, with the NVTA price moving below the 50-day SMA on January 23. Invitae Corporation (NVTA) stock is up 9.20% over the week and 50.00% over the past month. Its price is 46.77% year-to-date and -76.16% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2022, with the company’s earnings per share (EPS) of -$0.68 above consensus estimates by $0.08. The company’s next earnings report is expected on 05/09/2023, with forecasts estimating quarterly EPS at -$0.63 and -$2.65 for whole year. NVTA’s earnings per share are forecast to grow by 14.50% this year and 38.50% over next year. Expected sales for next quarter are $125.44 million, which analysts say will come at $517.43 million for the current fiscal year and next year at $522.74 million. In addition, estimates put the company’s current quarterly revenue at an average of $131.35 million.
Its 12-month price target is $2.90. To reach the target analysts have set, the stock logically needs to grow 3.87 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $1.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $4.00.
Outstanding shares total 237.97M with insiders holding 1.02% of the shares and institutional holders owning 84.38% of the company’s common stock. The company has a return on investment of -7.70% and return on equity of -201.80%. The beta has a value of 1.83. Price to book ratio is 4.07 and price to sales ratio is 1.21.
According to a U.S. Securities and Exchange Commission filing, ARK Innovation ETF has reduced its position in Invitae Corporation (NVTA) to 17,479,677 shares, mirroring a recent drop by -0.70%. ARK Innovation ETF dumped -0.12 million shares of Invitae Corporation common stock bringing its total worth to about $32.51 million at the end of recent close, SEC documents show. ARK Innovation ETF isn’t the only investment manager who changed stakes and is followed by Nikko AM Global Umbrella Fund – A, which sold off -1.31 million shares to end up with 11,685,379 shares worth $21.73 million. Vanguard Total Stock Market Index raise their holdings by 4.74% in the company over the course of the most recent quarter. It now holds a 3.07% position in Invitae Corporation thanks to 7.45 million shares amounting to $13.87 million.