Invitae Corporation [NYSE: NVTA] loss -5.52% on the last trading session, reaching $1.71 price per share at the time. The company report on December 20, 2022 that Invitae Completes Selected Assets Sale of its Next Generation Sequencing (NGS) research assays to Integrated DNA Technologies, Inc.
Will You Miss Out On This Growth Stock Boom?
A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.
And this is just one of our 5 Best Growth Stocks To Own For 2023.
— Invitae will continue to invest in its precision oncology focused lab developed test (LDT) offerings — — The transaction contributes to Invitae’s cash runway and includes a strategic supply partnership to support the growth of Invitae Personalized Cancer Monitoring™ (PCM) services —.
Invitae (NYSE: NVTA), a leading medical genetics company, today announced that it has completed a transaction with Integrated DNA Technologies, Inc. (IDT), which includes the sale of Next Generation Sequencing (NGS) research assays under the trademarked name Archer®, also known as the Research Use Only (RUO) kitted solutions. The transaction also includes certain licensed rights to Invitae’s Anchored Multiplex PCR (AMP™) technology. The transaction value includes total cash consideration of approximately $48 million, subject to certain adjustments. As part of the transaction, Invitae also entered into a supply agreement with IDT to support Invitae’s PCM services.
Invitae Corporation represents 237.97 million in outstanding shares, while the company has a total market value of $433.74 million with the latest information. NVTA stock price has been found in the range of $1.69 to $1.825.
If compared to the average trading volume of 8.71M shares, NVTA reached a trading volume of 4979431 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 $2.84 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 3.30. 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.
Credit Suisse have made an estimate for Invitae Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on August 25, 2022. The new note on the price target was released on August 10, 2022, representing the official price target for Invitae Corporation stock. Previously, the target price had yet another drop from $8 to $2.50, while Cowen kept a Market Perform rating on NVTA stock.
The Average True Range (ATR) for Invitae Corporation is set at 0.20, with the Price to Sales ratio for NVTA stock in the period of the last 12 months amounting to 0.83. The Price to Book ratio for the last quarter was 2.55, with the Price to Cash per share for the same quarter was set at 2.31.
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 -12.76. With this latest performance, NVTA shares dropped by -38.49% in over the last four-week period, additionally sinking by -34.73% over the last 6 months – not to mention a drop of -88.74% 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 31.00, with the RSI for the last a single of trading hit 22.58, and the three-weeks RSI is set at 36.70 for Invitae Corporation [NVTA]. The present Moving Average for the last 50 days of trading for this stock 2.4800, while it was recorded at 1.8200 for the last single week of trading, and 3.6393 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 6.20 and a Current Ratio set at 6.40.
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 $324 million, or 72.90% 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 30,468,381, which is approximately 6.277% of the company’s market cap and around 1.00% of the total institutional ownership; VANGUARD GROUP INC, holding 21,624,354 shares of the stock with an approximate value of $36.98 million in NVTA stocks shares; and BLACKROCK INC., currently with $36.31 million in NVTA stock with ownership of nearly 0.274% 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 133 institutional holders increased their position in Invitae Corporation [NYSE:NVTA] by around 13,782,157 shares. Additionally, 137 investors decreased positions by around 34,191,397 shares, while 58 investors held positions by with 141,346,450 shares. The mentioned changes placed institutional holdings at 189,320,004 shares, according to the latest SEC report filing. NVTA stock had 42 new institutional investments in for a total of 4,828,049 shares, while 42 institutional investors sold positions of 9,810,550 shares during the same period.