InVitae (NVTA) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of InVitae (NYSE:NVTA) from a buy rating to a hold rating in a research note published on Saturday morning.

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. “

Separately, ValuEngine raised InVitae from a strong sell rating to a sell rating in a research report on Thursday, May 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. InVitae presently has a consensus rating of Buy and a consensus price target of $10.80.

NYSE:NVTA traded up $0.04 on Friday, hitting $9.95. The company’s stock had a trading volume of 1,536,198 shares, compared to its average volume of 1,006,835. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.53 and a current ratio of 2.53. InVitae has a one year low of $4.35 and a one year high of $10.41.

InVitae (NYSE:NVTA) last released its quarterly earnings data on Tuesday, August 7th. The medical research company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.07. The firm had revenue of $37.31 million for the quarter, compared to analyst estimates of $30.70 million. InVitae had a negative return on equity of 116.59% and a negative net margin of 125.03%. equities analysts predict that InVitae will post -2 EPS for the current fiscal year.

In other news, CEO Sean E. George sold 20,311 shares of the stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $6.96, for a total value of $141,364.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO E Lee Bendekgey sold 6,388 shares of the stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $6.96, for a total value of $44,460.48. Following the completion of the transaction, the chief operating officer now owns 52,396 shares of the company’s stock, valued at $364,676.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,515 shares of company stock worth $281,984. Company insiders own 8.70% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Spark Investment Management LLC bought a new position in InVitae during the 1st quarter worth $112,000. Granite Springs Asset Management LLC raised its position in InVitae by 103.2% during the 1st quarter. Granite Springs Asset Management LLC now owns 29,540 shares of the medical research company’s stock worth $139,000 after purchasing an additional 15,000 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in InVitae during the 4th quarter worth $145,000. Bank of Montreal Can bought a new position in InVitae during the 2nd quarter worth $155,000. Finally, Dimensional Fund Advisors LP bought a new position in InVitae during the 1st quarter worth $247,000. Institutional investors own 70.09% of the company’s stock.

InVitae Company Profile

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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