Invitae Corporation [NYSE: NVTA] stock went on an upward path that rose over 1.21% on Wednesday, amounting to a one-week price decrease of less than -1.52%. The company report on May 25, 2021 that Germline genetic testing can benefit all cancer patients as a routine practice in cancer care.
— New data to be presented at 2021 ASCO Annual Meeting highlight need for increased germline testing in all cancer patients regardless of medical policy –.
Invitae Corporation (NYSE: NVTA), a leading medical genetics company, is presenting multiple studies in multiple cancer types at the 2021 American Society of Clinical Oncology (ASCO) Annual Meeting showing all cancer patients can benefit from germline genetic testing to guide their care. The use of genetic information informs changes in cancer care, increases access to precision therapies and guides screening for high-risk individuals and their family members. Earlier detection and precision therapies are critical to increase survivorship for people with cancer, yet the oncology community has been slow to adopt routine testing.
Over the last 12 months, NVTA stock rose by 62.06%. The one-year Invitae Corporation stock forecast points to a potential upside of 39.89. The average equity rating for NVTA stock is currently 2.10, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $6.03 billion, with 194.00 million shares outstanding and 164.22 million shares in the current float. Compared to the average trading volume of 4.37M shares, NVTA stock reached a trading volume of 2624085 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Invitae Corporation [NVTA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NVTA shares is $47.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NVTA stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for Invitae Corporation shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on May 25, 2021. The new note on the price target was released on April 05, 2021, representing the official price target for Invitae Corporation stock. Previously, the target price had yet another raise from $46.50 to $58, while Ladenburg Thalmann kept a Buy rating on NVTA stock.
The Average True Range (ATR) for Invitae Corporation is set at 1.73, with the Price to Sales ratio for NVTA stock in the period of the last 12 months amounting to 18.91. The Price to Book ratio for the last quarter was 2.33, with the Price to Cash per share for the same quarter was set at 3.17.
NVTA Stock Performance Analysis:
Invitae Corporation [NVTA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.52. With this latest performance, NVTA shares dropped by -13.33% in over the last four-week period, additionally sinking by -42.62% over the last 6 months – not to mention a rise of 62.06% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NVTA stock in for the last two-week period is set at 41.71, with the RSI for the last a single of trading hit 45.42, and the three-weeks RSI is set at 40.76 for Invitae Corporation [NVTA]. The present Moving Average for the last 50 days of trading for this stock 33.33, while it was recorded at 28.68 for the last single week of trading, and 42.09 for the last 200 days.
Insight into Invitae Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Invitae Corporation [NVTA] shares currently have an operating margin of -225.17 and a Gross Margin at +27.41. Invitae Corporation’s Net Margin is presently recorded at -215.37.
Return on Total Capital for NVTA is now -40.29, given the latest momentum, and Return on Invested Capital for the company is -38.75. Return on Equity for this stock declined to -51.12, with Return on Assets sitting at -28.59. When it comes to the capital structure of this company, Invitae Corporation [NVTA] has a Total Debt to Total Equity ratio set at 22.78. Additionally, NVTA Total Debt to Total Capital is recorded at 18.55, with Total Debt to Total Assets ending up at 13.12. Long-Term Debt to Equity for the company is recorded at 22.25, with the Long-Term Debt to Total Capital now at 18.12.
Reflecting on the efficiency of the workforce at the company, Invitae Corporation [NVTA] managed to generate an average of -$286,748 per employee. Receivables Turnover for the company is 6.97 with a Total Asset Turnover recorded at a value of 0.13.Invitae Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.10 and a Current Ratio set at 5.30.
NVTA Stock EPS
With the latest financial reports released by the company, Invitae Corporation posted -0.77/share EPS, while the average EPS was predicted by analysts to be reported at -0.7/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -10.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NVTA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Invitae Corporation go to 8.00%.
Invitae Corporation [NVTA] Insider Position Details
There are presently around $5,193 million, or 81.20% of NVTA stock, in the hands of institutional investors. The top three institutional holders of NVTA stocks are: ARK INVESTMENT MANAGEMENT LLC with ownership of 23,977,808, which is approximately -11.197% of the company’s market cap and around 1.20% of the total institutional ownership; VANGUARD GROUP INC, holding 16,749,159 shares of the stock with an approximate value of $477.18 million in NVTA stocks shares; and BAKER BROS. ADVISORS LP, currently with $448.69 million in NVTA stock with ownership of nearly 0.639% of the company’s market capitalization.
Positions in Invitae Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 224 institutional holders increased their position in Invitae Corporation [NYSE:NVTA] by around 21,703,879 shares. Additionally, 163 investors decreased positions by around 12,800,375 shares, while 36 investors held positions by with 147,755,781 shares. The mentioned changes placed institutional holdings at 182,260,035 shares, according to the latest SEC report filing. NVTA stock had 79 new institutional investments in for a total of 5,952,379 shares, while 57 institutional investors sold positions of 2,466,262 shares during the same period.