As of Thursday close, Invitae Corporation’s (NYSE:NVTA) stock was down -$0.07, moving down -6.30 percent to $0.92. The average number of shares traded per day over the past five days has been 23,868,381 shares. 4 times new highs have been achieved over the past 5 days, with a $0.0590 gain in that time frame. In the last twenty days, the average volume was 12,734,646, while in the previous 50 days, it was 9,395,822.
Since last month, NVTA stock retreated -25.48%. Shares of the company fell to $0.7910 on 08/24/23, the lowest level in the past month. A 52-week high of $4.20 was reached on 01/18/23 after having rallying from a 52-week low of $0.79. Since the beginning of this year, NVTA’s stock price has dropped by -50.32% or -$0.9359, and marked a new high 9 times. However, the stock has declined by -78.00% since its 52-week high.
NVTA stock investors should be aware that Invitae Corporation (NVTA) stock had its last reported insider trading activity 80 days ago on Jun 13. Nussbaum Robert L, the Chief Medical Officer of the company, disposed of 7,086 shares for $1.38 on Jun 13. It resulted in a $9,757 divestment by the insider. Brida Thomas sold 7,079 shares at an average price of $1.38 on Jun 13. The insider now owns 704,087 shares following the transaction. On May 16, Chief Financial Officer Wen Yafei sold 43,452 shares at $1.99 apiece. The transaction was valued at $86,600.
Financial Health
In the three months ended June 29, Invitae Corporation’s quick ratio stood at 2.80, while its current ratio was 3.00, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 21.90% percent. Based on annual data, NVTA earned $99.05 million in gross profit and brought in $516.3 million in revenue.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. NVTA’s revenue fell -13.35% to $117.36 million during the quarter, while net income inched up to $120.53 million. While analysts expected Invitae Corporation to report -$0.37 quarterly earnings, the actual figure was -$0.3 per share, beating the consensus estimate by 18.90%. During the quarter, the company generated -$193.54 million in EBITDA. The liabilities of Invitae Corporation were 1.72 billion at the end of its most recent quarter ended June 29, and its total debt was $1.58 billion. The value of shareholders’ equity is $267.01 million.
Technical Picture
This quick technical analysis looks at Invitae Corporation’s (NVTA) price momentum. With a historical volatility rate of 111.85%, the RSI 9-day stood at 39.92% on 31 August.
With respect to its five-day moving average, the current Invitae Corporation price is up by +6.82% percent or $0.0590. At present, NVTA shares trade -24.87% below its 20-day simple moving average and -31.55% percent below its 100-day simple moving average. However, the stock is currently trading approximately -19.64% below its SMA50 and -74.40% below its SMA200.
Stochastic coefficient K was 44.05% and Stochastic coefficient D was 35.68%, while ATR was 0.1043. Given the Stochastic reading of 38.14% for the 14-day period, the RSI (14) reading has been calculated as 40.18%.
Analyst Ratings
Invitae Corporation (NVTA) has been rated Underweight by analysts. According to 5 brokerage firms, NVTA is a sell, and 6 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Invitae Corporation stock as buy, with 0 recommending it as overweight.
With a median target price of $1.25, the current consensus forecast for the stock is $0.50 – $4.00. Based on these forecasts, analysts predict Invitae Corporation (NVTA) will achieve an average price target of $1.70.
