Why You Need Invitae Corporation (NVTA) On Your Watchlist

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Invitae Corporation (NYSE:NVTA) saw an upside of 7.06% to close Monday at $2.73 after adding $0.18 on the day. The 5-day average trading volume is 8,916,939 shares of the company’s common stock. It has gained $2.94 in the past week and touched a new high 2 times within the past 5 days. An average of 7,431,685 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 8,209,824.

NVTA’s 1-month performance is 50.00% or $0.92 on its low of $1.67 reached on 12/28/22. The company’s shares have touched a 52-week low of $1.67 and high of $12.04, with the stock’s rally to the 52-week high happening on 01/18/23. YTD, NVTA has achieved 46.77% or $0.87 and has reached a new high 9 times. However, the current price is down -77.33% from the 52-week high price.

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Insider Transactions

NVTA stock investors last saw insider trading activity on Dec 19.George Sean E (Director) most recently sold 11,163 shares at $2.08 per share on Dec 19. This transaction cost the insider $23,210. Director, George Sean E, sold 44,816 shares at a price of $2.04 on Dec 16. Then, on Aug 25, Chief Accounting Officer WERNER ROBERT F. sold 1,350 shares at a price of $3.45 per share. This transaction amounted to $4,658.

Valuation Metrics

NVTA stock has a beta of 1.83. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.21 while the price-to-book (PB) in the most recent quarter is 4.07.

Invitae Corporation’s quick ratio for the period ended June 29 was 6.20, with the current ratio over the same period at 6.40. As well, the company’s long term debt to equity for the quarter ending June 29 was 10.03, while the total debt to equity was 10.07. In terms of profitability, the gross margin trailing 12 months is 19.10%. The firm’s gross profit as reported stood at $111.78 million against revenue of $460.45 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Invitae Corporation’s cash and short-term investments amounted to $368.94 million against total debt of $1.75 billion. Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 144.42% to -$301.16 million, while revenue of -$181.86 million was 39.61% off the previous quarter. Analysts expected NVTA to announce -$0.76 per share in earnings in its latest quarter, but it posted -$0.68, representing a 10.50% surprise. EBITDA for the quarter stood at more than -$246.15 million. NVTA stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 1.87 billion, with total debt at $1.75 billion. Shareholders hold equity totaling $242.9 million.

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 23 January was 71.56% to suggest the stock is trending Overbought, with historical volatility in this time period at 82.04%.

The stock’s 5-day moving average is $2.58, reflecting a +9.20% or $0.23 change from its current price. NVTA is currently trading +45.99% above its 20-day SMA, -9.00% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +16.17% and SMA200 by-66.83%.

Stochastic %K and %D was 68.89% and 69.55% and the average true range (ATR) pointed at 0.23. The RSI (14) points at 64.84%, while the 14-day stochastic is at 82.50% with the period’s ATR at 0.22. The stock’s 9-day MACD Oscillator is pointing at 0.09 and 0.28 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Invitae Corporation (NYSE: NVTA), Credit Suisse launched coverage with an Underperform rating. Analysts offering their rating for NVTA stock have a consensus rating for the stock as Underweight. Currently, 3 brokerage advisors rate NVTA as a “sell,”, while 8 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 0 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 $1.00 and a high of $4.00, with their median price target at $2.90. Looking at these predictions, the average price target given by analysts is for Invitae Corporation (NVTA) stock is $2.84.

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