The Benchmark Company slashes price target on Invitae Corporation [NVTA] – find out why.


Invitae Corporation [NYSE: NVTA] closed the trading session at $3.69 on 05/23/22. The day’s price range saw the stock hit a low of $3.455, while the highest price level was $3.70. The company report on May 19, 2022 that Invitae Launches Expanded Pharmacogenomics Panel and Specialized Mental Health Panel.

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– New 38-gene testing panel and clinical decision support tool analyzes a patient’s genetics and co-medications for their impact on drug and dose personalization -.

Invitae (NYSE: NVTA), a leading medical genetics company, today announced the commercial availability of the expanded Invitae Pharmacogenomics (PGx) Panel which includes the specialized Invitae Pharmacogenomics Mental Health Panel and access to a clinical decision support tool (CDST). With this launch, Invitae now has one of the most comprehensive commercially available PGx panels in the industry. In addition to mental health medications, the panel aligns with PGx-specific guidelines and published evidence that affects hundreds of commonly used medications, including frequently prescribed medications for high-risk patients in primary care, cardiology, endocrinology, pain management and oncology.

The stocks have a year to date performance of -75.83 percent and weekly performance of -1.07 percent. The stock has been moved at -80.47 percent over the last six months. The stock has performed -31.28 percent around the most recent 30 days and changed -58.91 percent over the most recent 3-months.

If compared to the average trading volume of 7.29M shares, NVTA reached to a volume of 5755213 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $16.18 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 2.20. 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 0.56, with the Price to Sales ratio for NVTA stock in the period of the last 12 months amounting to 1.80. The Price to Book ratio for the last quarter was 0.30, with the Price to Cash per share for the same quarter was set at 3.72.

NVTA stock trade performance evaluation

Invitae Corporation [NVTA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.07. With this latest performance, NVTA shares dropped by -31.28% in over the last four-week period, additionally sinking by -80.47% over the last 6 months – not to mention a drop of -86.93% 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 35.23, with the RSI for the last a single of trading hit 36.19, and the three-weeks RSI is set at 35.59 for Invitae Corporation [NVTA]. The present Moving Average for the last 50 days of trading for this stock 6.22, while it was recorded at 3.66 for the last single week of trading, and 16.55 for the last 200 days.

Invitae Corporation [NVTA]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Invitae Corporation [NVTA] shares currently have an operating margin of -143.66 and a Gross Margin at +23.80. Invitae Corporation’s Net Margin is presently recorded at -82.31.

Return on Equity for this stock declined to -15.30, with Return on Assets sitting at -9.08.

Invitae Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.90 and a Current Ratio set at 6.10.

Earnings per share (EPS) analysis for Invitae Corporation [NVTA] stock

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 Ownership positions

There are presently around $726 million, or 81.30% 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 27,682,226, which is approximately 3.676% of the company’s market cap and around 1.30% of the total institutional ownership; VANGUARD GROUP INC, holding 19,515,586 shares of the stock with an approximate value of $70.84 million in NVTA stocks shares; and BLACKROCK INC., currently with $70.32 million in NVTA stock with ownership of nearly 10.795% 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 154 institutional holders increased their position in Invitae Corporation [NYSE:NVTA] by around 21,275,681 shares. Additionally, 148 investors decreased positions by around 28,797,029 shares, while 71 investors held positions by with 149,905,503 shares. The mentioned changes placed institutional holdings at 199,978,213 shares, according to the latest SEC report filing. NVTA stock had 47 new institutional investments in for a total of 4,650,056 shares, while 60 institutional investors sold positions of 6,336,358 shares during the same period.