The stock of Invitae Corporation (NYSE:NVTA) increased by $0.04 on Monday to finish at $1.11, up 3.74 percent. The last five days have seen an average of 8,633,340 shares of common stock traded. 9 times new highs were reached in the current year, with a fall of -$0.7500. The average number of shares traded over the last 20 days was 7,814,665, while the average volume over the last 50 days totaled 7,561,786.
NVTA stock dropped -8.26% since last month. On 08/11/23, the company’s shares reached a one-month low of $1.0200. The stock touched a high of $6.35 on 01/18/23, after rallying from a low of $1.02 in 52 weeks. The price of NVTA stock has declined by -40.32% or -$0.7500 this year, reaching a new high 9 times. Still, the stock price is down -82.52% from the 52-week high.
Insider Transactions
NVTA stock investors should be aware that Invitae Corporation (NVTA) stock had its last reported insider trading activity 63 days ago on Jun 13. On Jun 13, Chief Medical Officer Nussbaum Robert L sold 7,086 shares at $1.38 each. This transaction resulted in the insider making $9,757. On Jun 13, Brida Thomas sold 7,079 shares at a price of US$1.38. After the transaction, the insider now owns 704,087 shares. Chief Financial Officer Wen Yafei had earlier sold 43,452 shares on May 16 for $1.99 a share. The transaction was completed for $86,600.
Financial Health
For the three months ended June 29, Invitae Corporation’s quick ratio was 2.80, while its current ratio was 3.00, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 21.90% percent. Based on annual data, it had gross profit of $99.05 million and revenue of $516.3 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. NVTA’s return on assets (ROA) during the last 12 months has been -44.50%. There was a -180.40% return on investment (ROI) in the past year.
Earnings Surprise
According to Invitae Corporation’s quarterly financial report for the quarter that ended June 29, it had $102.38 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $120.53 million, while revenues fell by -2.62% to $117.36 million. It was predicted that Invitae Corporation’s quarterly earnings would be -$0.3, but it ended up being -$0.37, beating the consensus by 18.90%. EBITDA was -$193.54 million for the quarter. At the end of Invitae Corporation’s most recent quarter ended June 29, its liabilities totaled 1.72 billion, while its total debt was $1.58 billion. Equity owned by shareholders amounts to $267.01 million.
Technical Picture
Here’s a quick look at Invitae Corporation’s (NVTA) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 38.67%, suggesting the stock is Neutral, with a 57.15% historical volatility rate.
The stochastic %K and %D were 9.67% and 8.72% respectively, while the average true range (ATR) was 0.1071. Based on the 14-day stochastic reading of 17.31%, the RSI (14) reading is 42.26%. On the 9-day MACD Oscillator, the stock is at -0.0756, and the 14-day reading is at -0.1560.
Analyst Ratings
Analysts have assigned Invitae Corporation (NVTA) an Underweight rating. NVTA is a stock that is recommended for selling by 5 brokerage firms, while 6 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 0 others recommend it as a buy.
What is NVTA’s price target for the next 12 months?
The current consensus forecast for the stock is between $1.00 and $4.00, with a median target price of $1.50. In analyzing these forecasts, the average price target given by analysts for Invitae Corporation (NVTA) is $1.87.
