Invitae Corporation [NYSE: NVTA] price plunged by -3.87 percent to reach at -$0.71. The company report on November 8, 2021 that Invitae Reports $114.4 Million in Revenue Driven by 296,000 in Billable Volume in Third Quarter of 2021.
— Q3 2021 revenue increases more than 66% on volume growth of 89% from Q3 2020 –.
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— Full-year 2021 revenue expected to grow 60-70%, or between $450-$475 million –.
A sum of 4486446 shares traded at recent session while its average daily volume was at 2.72M shares. Invitae Corporation shares reached a high of $18.56 and dropped to a low of $17.43 until finishing in the latest session at $17.64.
The one-year NVTA stock forecast points to a potential upside of 50.55. The average equity rating for NVTA stock is currently 2.30, trading closer to a bullish pattern in the stock market.
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 $35.67 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 2.30. 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.
The Benchmark Company have made an estimate for Invitae Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 04, 2021. While these analysts kept the previous recommendation, Raymond James raised their target price to Outperform. The new note on the price target was released on June 15, 2021, representing the official price target for Invitae Corporation stock. Previously, the target price had yet another raise to $33, while Goldman analysts kept a Neutral rating on NVTA stock.
The Average True Range (ATR) for Invitae Corporation is set at 1.36, with the Price to Sales ratio for NVTA stock in the period of the last 12 months amounting to 9.39. The Price to Book ratio for the last quarter was 1.24, with the Price to Cash per share for the same quarter was set at 5.36.
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 -19.49. With this latest performance, NVTA shares dropped by -37.97% in over the last four-week period, additionally sinking by -39.05% over the last 6 months – not to mention a drop of -65.36% 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 23.10, with the RSI for the last a single of trading hit 18.17, and the three-weeks RSI is set at 27.11 for Invitae Corporation [NVTA]. The present Moving Average for the last 50 days of trading for this stock 26.45, while it was recorded at 19.07 for the last single week of trading, and 31.70 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 8.50 and a Current Ratio set at 8.70.
NVTA Stock EPS
With the latest financial reports released by the company, Invitae Corporation posted -0.62/share EPS, while the average EPS was predicted by analysts to be reported at -0.65/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.60%. 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 $3,566 million, or 83.20% 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 25,917,886, which is approximately 21.11% of the company’s market cap and around 1.00% of the total institutional ownership; VANGUARD GROUP INC, holding 18,668,323 shares of the stock with an approximate value of $329.31 million in NVTA stocks shares; and NIKKO ASSET MANAGEMENT AMERICAS, INC., currently with $302.08 million in NVTA stock with ownership of nearly 15.214% of the company’s market capitalization.
Positions in Invitae Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 196 institutional holders increased their position in Invitae Corporation [NYSE:NVTA] by around 23,519,476 shares. Additionally, 163 investors decreased positions by around 11,480,351 shares, while 58 investors held positions by with 167,163,542 shares. The mentioned changes placed institutional holdings at 202,163,369 shares, according to the latest SEC report filing. NVTA stock had 55 new institutional investments in for a total of 6,379,413 shares, while 63 institutional investors sold positions of 6,798,879 shares during the same period.