Invitae Corporation [NVTA] is -85.66% lower this YTD. Is it still time to buy?


Invitae Corporation [NYSE: NVTA] loss -6.81% or -0.16 points to close at $2.19 with a heavy trading volume of 10527964 shares. The company report on July 18, 2022 that Invitae Announces Strategic Business Realignment to Accelerate Its Path to Positive Cash Flow and Realize Full Potential of Industry-Leading Genetics Testing Platform.

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—   Exiting non-core businesses and geographies to prioritize higher-margin business initiatives —.

—   Expects to deliver approximately $326 million in non-GAAP annualized cost savings in 2023 —.

It opened the trading session at $2.35, the shares rose to $2.42 and dropped to $2.12, the range by which the price of stock traded the whole day. The daily chart for NVTA points out that the company has recorded -80.87% loss over the past six months. However, it is still -5.29% lower than its most recent low trading price.

If we look at the average trading volume of 9.82M shares, NVTA reached to a volume of 10527964 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $11.34 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.

Raymond James have made an estimate for Invitae Corporation shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on July 21, 2022. The new note on the price target was released on July 20, 2022, representing the official price target for Invitae Corporation stock.

The Average True Range (ATR) for Invitae Corporation is set at 0.32, with the Price to Sales ratio for NVTA stock in the period of the last 12 months amounting to 1.03. The Price to Book ratio for the last quarter was 0.18, with the Price to Cash per share for the same quarter was set at 3.87.

Trading performance analysis for NVTA stock

Invitae Corporation [NVTA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -23.16. With this latest performance, NVTA shares dropped by -11.34% in over the last four-week period, additionally sinking by -80.87% over the last 6 months – not to mention a drop of -92.29% 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 38.39, with the RSI for the last a single of trading hit 35.05, and the three-weeks RSI is set at 39.14 for Invitae Corporation [NVTA]. The present Moving Average for the last 50 days of trading for this stock 2.97, while it was recorded at 2.35 for the last single week of trading, and 11.21 for the last 200 days.

Invitae Corporation [NVTA]: A deeper dive into fundamental analysis

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.

Invitae Corporation [NVTA]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Invitae Corporation [NVTA]

There are presently around $442 million, or 81.70% 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 28,668,950, which is approximately 3.564% 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 $42.74 million in NVTA stocks shares; and BLACKROCK INC., currently with $42.42 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 August and at the time of the August reporting period, where 150 institutional holders increased their position in Invitae Corporation [NYSE:NVTA] by around 22,196,209 shares. Additionally, 145 investors decreased positions by around 28,647,004 shares, while 69 investors held positions by with 151,122,141 shares. The mentioned changes placed institutional holdings at 201,965,354 shares, according to the latest SEC report filing. NVTA stock had 43 new institutional investments in for a total of 4,624,080 shares, while 56 institutional investors sold positions of 6,375,993 shares during the same period.