Invitae Corporation (NYSE:NVTA) has a beta value of 2.14 and has seen 2,304,681 shares traded in the last trading session. The company, currently valued at $8.48 Billion, closed the last trade at $48 per share which meant it gained $1.23 on the day or 2.63% during that session. The NVTA stock price is -15.38% off its 52-week high price of $55.38 and 84.56% above the 52-week low of $7.41. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.21 Million shares traded. The 3-month trading volume is 2.75 Million shares.
The consensus among analysts is that Invitae Corporation (NVTA) is an Overweight stock at the moment, with a recommendation rating of 2.4. None of the analysts rate the stock as a Sell, while 1 rate it as Overweight. 4 out of 7 have rated it as a Hold, with 2 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.5.
Invitae Corporation (NYSE:NVTA) trade information
Sporting 2.63% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Friday, Nov 20 when the NVTA stock price touched $48.89- or saw a rise of 1.82%. Year-to-date, Invitae Corporation shares have moved 197.58%, while the 5-day performance has seen it change 2.08%. Over the past 30 days, the shares of Invitae Corporation (NYSE:NVTA) have changed 1.61%. Short interest in the company has seen 24.35 Million shares shorted with days to cover at 8.85.
Wall Street analysts have a consensus price target for the stock at $46.31, which means that the shares’ value could jump -3.52% from current levels. The projected low price target is $41 while the price target rests at a high of $50. In that case, then, we find that the current price level is +4.17% off the targeted high while a plunge would see the stock lose -14.58% from current levels.
Invitae Corporation (NVTA) estimates and forecasts
Figures show that Invitae Corporation shares have outperformed across the wider relevant industry. The company’s shares have gained +190.21% over the past 6 months, with this year growth rate of 14.04%, compared to 4.4% for the industry. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 20.6% and 47.5% for the next quarter. Revenue growth from the last financial year stood is estimated to be +27%.
7 analysts offering their estimates for the company have set an average revenue estimate of $96.45 Million for the current quarter. 6 have an estimated revenue figure of $105.4 Million for the next quarter concluding in March 01, 2021. Year-ago sales stood $66.28 Million and $59.41 Million respectively for this quarter and the next, and analysts expect sales will grow by 45.5% for the current quarter and 77.4% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -12.3% over the past 5 years. Earnings growth for 2020 is a modest -37.4% while over the next 5 years, the company’s earnings are expected to increase by 8%.
Invitae Corporation (NYSE:NVTA)’s Major holders
Insiders own 1.27% of the company shares, while shares held by institutions stand at 73.54% with a share float percentage of 74.48%. Investors are also buoyed by the number of investors in a company, with Invitae Corporation having a total of 375 institutions that hold shares in the company. The top two institutional holders are ARK Investment Management, LLC with over 27.75 Million shares worth more than $1.2 Billion. As of September 29, 2020, ARK Investment Management, LLC held 15.71% of shares outstanding.
The other major institutional holder is Baker Brothers Advisors, LLC, with the holding of over 11.85 Million shares as of September 29, 2020. The firm’s total holdings are worth over $513.74 Million and represent 6.71% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are ARK ETF Tr-ARK Innovation ETF and ARK ETF Tr-ARK Genomic Revolution ETF. As of July 30, 2020, the former fund manager holds about 8.46% shares in the company for having 14951785 shares of worth $436.59 Million while later fund manager owns 5.84 Million shares of worth $170.47 Million as of July 30, 2020, which makes it owner of about 3.3% of company’s outstanding stock.