Invitae Corp [NYSE: NVTA] stock went on a downward path that fall over -77.12% on Monday, amounting to a one-week price decrease of less than -80.31%. The company report on January 30, 2024 at 7:00 AM that Invitae Partners with BridgeBio Pharma to Harness Genetic Insights for the Discovery of Rare Disease Therapeutics.
Invitae (NYSE: NVTA), a leading medical genetics company, today announced a partnership with BridgeBio Pharma, Inc. (Nasdaq: BBIO), a commercial-stage biopharmaceutical company focused on genetic diseases and cancers, designed to advance genetics-based drug discovery for rare diseases. The goal of the collaboration is to generate new insights focused on genetic modifiers and the discovery of novel therapeutic targets for rare diseases and other unmet medical needs.
The agreement expands upon the longstanding partnership between the two companies to combine the strengths of BridgeBio’s deep expertise in rare disease research and development of therapeutics, and Invitae’s rare disease enriched dataset and analytical capabilities. Invitae has provided clinical testing for more than 4 million patients, generating an extensive dataset that is uniquely positioned to deepen insights on patients with genetic-driven disease.
Over the last 12 months, NVTA stock dropped by -96.69%. The one-year Invitae Corp stock forecast points to a potential upside of 87.32. The average equity rating for NVTA stock is currently 4.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $25.53 million, with 286.49 million shares outstanding and 277.78 million shares in the current float. Compared to the average trading volume of 7.61M shares, NVTA stock reached a trading volume of 94199600 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 0.07, with the Price to Sales ratio for NVTA stock in the period of the last 12 months amounting to 0.05.
NVTA Stock Performance Analysis:
Invitae Corp [NVTA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -80.31. With this latest performance, NVTA shares dropped by -83.59% in over the last four-week period, additionally sinking by -92.76% over the last 6 months – not to mention a drop of -96.69% 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 18.07, with the RSI for the last a single of trading hit 12.81, and the three-weeks RSI is set at 23.25 for Invitae Corp [NVTA]. The present Moving Average for the last 50 days of trading for this stock 0.5291, while it was recorded at 0.3307 for the last single week of trading, and 0.8814 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%.
