InVitae (NVTA) Coverage Initiated by Analysts at Ladenburg Thalmann Financial Services

Ladenburg Thalmann Financial Services initiated coverage on shares of InVitae (NYSE:NVTA) in a report issued on Friday, MarketBeat reports. The brokerage issued a buy rating and a $15.00 price objective on the medical research company’s stock.

NVTA has been the topic of a number of other research reports. BidaskClub cut shares of InVitae from a buy rating to a hold rating in a research report on Thursday, October 26th. Zacks Investment Research cut shares of InVitae from a hold rating to a sell rating in a research report on Thursday, January 4th. Finally, Leerink Swann reduced their price target on shares of InVitae from $14.00 to $12.00 and set an outperform rating on the stock in a research report on Tuesday, November 7th. Three analysts have rated the stock with a sell rating and four have issued a buy rating to the company. InVitae presently has an average rating of Hold and an average target price of $13.80.

InVitae (NYSE NVTA) traded down $1.42 during mid-day trading on Friday, hitting $8.63. 2,005,900 shares of the company’s stock were exchanged, compared to its average volume of 833,520. InVitae has a 12-month low of $2.70 and a 12-month high of $10.41. The stock has a market capitalization of $465.92 and a PE ratio of -3.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.61 and a quick ratio of 2.61.

Several hedge funds and other institutional investors have recently made changes to their positions in NVTA. Perceptive Advisors LLC increased its position in shares of InVitae by 190.1% during the third quarter. Perceptive Advisors LLC now owns 1,884,500 shares of the medical research company’s stock valued at $17,657,000 after buying an additional 1,235,000 shares during the period. Orbimed Advisors LLC boosted its stake in InVitae by 232.5% during the third quarter. Orbimed Advisors LLC now owns 1,518,197 shares of the medical research company’s stock worth $14,226,000 after acquiring an additional 1,061,531 shares in the last quarter. Ark Investment Management LLC boosted its stake in InVitae by 30.4% during the second quarter. Ark Investment Management LLC now owns 982,170 shares of the medical research company’s stock worth $9,390,000 after acquiring an additional 229,189 shares in the last quarter. State Street Corp boosted its stake in InVitae by 43.1% during the second quarter. State Street Corp now owns 577,978 shares of the medical research company’s stock worth $5,528,000 after acquiring an additional 174,016 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in InVitae by 39.0% during the second quarter. Northern Trust Corp now owns 433,113 shares of the medical research company’s stock worth $4,140,000 after acquiring an additional 121,409 shares in the last quarter. Institutional investors own 64.67% of the company’s stock.

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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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