In today’s recent session, 1,774,840 shares of the Invitae Corporation(NYSE:NVTA) have been traded, and its beta is 2. Most recently the company’s share price was $47.98, and it changed around -$2.44 or -0.05% from the last close, which brings the market valuation of the company to $9.09 Billion. NVTA at last check was trading at a discount to its 52-week high of $61.59, offering almost -28.37% off that amount. The share price’s 52-week low was $7.41, which indicates that the recent value has risen by an impressive 84.56% since then. We note from Invitae Corporation’s average daily trading volume that its 10-day average is 3.76 Million shares, with the 3-month average coming to 4.25 Million.
Invitae Corporation stock received a consensus recommendation rating of Overweight, based on a mean score of 2.4. If we narrow it down even further, the data shows that none out of 8 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 5 recommended NVTA as a Hold, whereas 3 deemed it a Buy, and no one rated it as Underweight. Invitae Corporation is expected to report earnings per share of -$0.59 for the current quarter.
Invitae Corporation (NYSE:NVTA): Trading Information Today
Although NVTA has been showing red trend so far today with a performance of -4.84% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $53.47 on Tuesday, Feb 16 increased the stock’s daily price by 9.46%. The company’s shares are currently up 0.16% year-to-date, but still down -0.0665 over the last five days. On the other hand, Invitae Corporation (NYSE:NVTA) is -0.12% down in the 30-day period. We can see from the shorts that 26.26 Million shares have been sold at a short interest cover period of 6.18 day(s).
The consensus price target as assigned by Wall Street analysts is $54.6, which translates to bears needing to increase their stock price by 13.8% from its current value. Analyst projections state that NVTA is forecast to be at a low of $45 and a high of $65. In order for the stock price to hit the forecast high, the stock would need to surge +35.47% from its current level, while the stock would need to crash -6.21% from its current level to reach the projected low.
Invitae Corporation (NVTA) projections and forecasts
Invitae Corporation share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +53.07 percent over the past six months and at a -22.66% annual growth rate that is well below the industry average of 15.2%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +26.3% in revenue this quarter, and will report an increase of 26% in the next quarter. The year-over-year growth rate is expected to be 64.5%, up from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $101.46 Million in revenue for the current quarter. 7 analysts expect Invitae Corporation to make $108.38 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarter a year ago was $59.41 Million. Analysts predict that the company’s current quarter sales will jump, forecast at 70.8%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -12.3%. Invitae Corporation earnings are expected to decrease by -37.4% in 2021, but the outlook is positive 8% per year for the next five years.
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Invitae Corporation (NYSE:NVTA)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 0.9% of Invitae Corporation shares, and 73.3% of them are in the hands of institutional investors. The stock currently has a share float of 73.97%. Invitae Corporation stock is held by 380 institutions, with ARK Investment Management, LLC being the largest institutional investor. By Sep 29, 2020, it held 15.71% of the shares, which is about 27.75 Million shares worth $1.2 Billion.
Baker Brothers Advisors, LLC, with 6.71% or 11.85 Million shares worth $513.74 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.