Brokerages Set InVitae Corp (NASDAQ:NVTA) Price Target at $15.00

Shares of InVitae Corp (NASDAQ:NVTA) have been assigned a consensus rating of “Hold” from the seven ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $15.50.

Several brokerages recently issued reports on NVTA. Zacks Investment Research lowered shares of InVitae Corp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. BidaskClub upgraded shares of InVitae Corp from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $15.00 price target (up from $14.00) on shares of InVitae Corp in a research report on Wednesday. Finally, ValuEngine upgraded shares of InVitae Corp from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd.

Several institutional investors have recently bought and sold shares of NVTA. ARK Investment Management LLC raised its position in InVitae Corp by 30.4% in the second quarter. ARK Investment Management LLC now owns 982,170 shares of the medical research company’s stock worth $9,390,000 after buying an additional 229,189 shares during the last quarter. Vanguard Group Inc. raised its position in InVitae Corp by 9.7% in the second quarter. Vanguard Group Inc. now owns 1,323,137 shares of the medical research company’s stock worth $12,649,000 after buying an additional 116,871 shares during the last quarter. Northern Trust Corp raised its position in InVitae Corp by 39.0% in the second quarter. Northern Trust Corp now owns 433,113 shares of the medical research company’s stock worth $4,140,000 after buying an additional 121,409 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of InVitae Corp by 77.4% in the second quarter. New York State Common Retirement Fund now owns 41,700 shares of the medical research company’s stock worth $399,000 after buying an additional 18,199 shares in the last quarter. Finally, Verity Asset Management Inc. raised its position in shares of InVitae Corp by 0.8% in the second quarter. Verity Asset Management Inc. now owns 10,607 shares of the medical research company’s stock worth $101,000 after buying an additional 81 shares in the last quarter.

InVitae Corp (NASDAQ:NVTA) opened at 9.19 on Friday. The company’s market capitalization is $397.25 million. The company has a 50-day moving average of $9.54 and a 200 day moving average of $9.79. InVitae Corp has a 12-month low of $5.76 and a 12-month high of $11.88.

InVitae Corp (NASDAQ:NVTA) last announced its earnings results on Monday, August 7th. The medical research company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by $0.02. The business had revenue of $14.34 million for the quarter, compared to the consensus estimate of $13.31 million. InVitae Corp had a negative net margin of 199.20% and a negative return on equity of 153.27%. The business’s quarterly revenue was up 157.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.77) earnings per share. Equities research analysts forecast that InVitae Corp will post ($2.40) earnings per share for the current fiscal year.

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InVitae Corp 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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