JP Morgan lifts Invitae Corp [NVTA] price estimate. Who else is bullish?

Invitae Corp [NYSE: NVTA] price surged by 10.39 percent to reach at $0.04. The company report on January 22, 2024 at 7:00 AM that Invitae Completes Sale of Reproductive Health Assets to Natera.

Invitae (NYSE: NVTA), a leading medical genetics company, today announced it has completed the sale of certain reproductive health assets, which include carrier screening and non-invasive prenatal screening, to Natera (NASDAQ: NTRA).

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The value of the transaction is up to $52.5 million, including cash, milestone payments and litigation credits. Natera has hired Invitae reproductive health sales representatives. In addition, Invitae will transition its non-invasive prenatal screening and carrier screening customers to Natera.

The one-year NVTA stock forecast points to a potential upside of 36.62. The average equity rating for NVTA stock is currently 4.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Invitae Corp [NVTA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NVTA shares is $0.71 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 4.00. 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.

JP Morgan have made an estimate for Invitae Corp shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on July 05, 2023.

The Average True Range (ATR) for Invitae Corp is set at 0.05, with the Price to Sales ratio for NVTA stock in the period of the last 12 months amounting to 0.27.

NVTA Stock Performance Analysis:

Invitae Corp [NVTA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.70. With this latest performance, NVTA shares dropped by -32.12% in over the last four-week period, additionally sinking by -68.13% over the last 6 months – not to mention a drop of -81.60% 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 42.14, with the RSI for the last a single of trading hit 44.68, and the three-weeks RSI is set at 42.42 for Invitae Corp [NVTA]. The present Moving Average for the last 50 days of trading for this stock 0.5512, while it was recorded at 0.4109 for the last single week of trading, and 0.9064 for the last 200 days.

Insight into Invitae Corp Fundamentals:

Invitae Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.25 and a Current Ratio set at 2.39.

NVTA Stock EPS

With the latest financial reports released by the company, Invitae Corp posted -0.34/share EPS, while the average EPS was predicted by analysts to be reported at -0.53/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 35.80%. 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 Corp go to 8.00%.

Invitae Corp [NVTA] Institutonal Ownership Details

The top three institutional holders of NVTA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NVTA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NVTA stock with ownership which is approximately 5.8325%.