Invitae Corporation (NVTA) Shares: Cheap or Risky?

Invitae Corporation (NYSE:NVTA) saw an upside of 1.61% to close Tuesday at $26.53 after adding $0.42 on the day. The 5-day average trading volume is 1,366,640 shares of the company’s common stock. It has gained $27.14 in the past week. An average of 2,533,905 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,078,110.

NVTA’s 1-month performance is -11.68% or -$4.64 on its low of $25.69 reached on 10/11/21. The company’s shares have touched a 52-week low of $24.16 and high of $61.59, with the stock’s rally to the 52-week high happening on 01/20/21. YTD, NVTA has lost -36.55% or -$15.28. However, the current price is down -56.92%% from the 52-week high price.

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Insider Transactions

On Sep 22, 21 days have gone by since the last insider trading activity for Invitae Corporation (NVTA). George Sean E (President & CEO) most recently sold 7,350 shares at $31.88 per share on Sep 22. This transaction cost the insider $234,306. Chief Accounting Officer, WERNER ROBERT F., sold 15,337 shares at a price of $24.86 on Aug 19. Then, on Aug 16, Chief Medical Officer Nussbaum Robert L sold 21,231 shares at a price of $25.42 per share. This transaction amounted to $539,633.

Valuation Metrics

Invitae Corporation (NVTA) has a trailing price-to-earnings (P/E) ratio of 26.50 for the broader industry and 32.19 for the sector.NVTA stock has a beta of 1.79. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 15.06 while the price-to-book (PB) in the most recent quarter is 2.04.

Invitae Corporation’s quick ratio for the period ended June 29 was 12.10, with the current ratio over the same period at 12.30 meaning that NVTA stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.59, while the total debt to equity was 0.59. In terms of profitability, the gross margin trailing 12 months is 28.10%. The trailing 12-month EBITDA margin is -211.90%. The firm’s gross profit as reported stood at $81.32 million against revenue of $279.6 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Invitae Corporation’s cash and short-term investments amounted to $422.47 million against total debt of $1.71 billion. Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected NVTA to announce -$0.64 per share in earnings in its latest quarter, but it posted -$0.85, representing a -32.80% surprise. EBITDA for the quarter stood at more than $151.05 million. NVTA stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 2.34 billion, with total debt at $1.71 billion. Shareholders hold equity totaling $217.34 million

Technical Picture

Let’s look briefly at Invitae Corporation (NVTA) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 12 October was 34.58% to suggest the stock is trending Neutral, with historical volatility in this time period at 42.64%.

The stock’s 5-day moving average is $26.29, reflecting a +0.34% or $0.09 change from its current price. NVTA is currently trading -10.88% above its 20-day SMA, -3.77% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -6.22% and -43.64% respectively.

Stochastic %K and %D was 8.21% and 7.76% and the average true range (ATR) pointed at 1.18. The RSI (14) points at 37.84%, while the 14-day stochastic is at 12.71% with the period’s ATR at 1.25. The stock’s 9-day MACD Oscillator is pointing at -0.57 and -1.65 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Invitae Corporation (NYSE: NVTA), The Benchmark Company upgraded it to a Buy rating. They previously had a Hold rating on the stock. Analysts offering their rating for NVTA stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate NVTA as a “sell,”, while 5 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 4 have offered a “buy” rating.

What is NVTA’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $33.00 and a high of $58.00, with their median price target at $38.00. Looking at these predictions, the average price target given by analysts is for Invitae Corporation (NVTA) stock is $40.44.


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