An in-depth look at the Invitae Corporation (NVTA) stock – Marketing Sentinel

An in-depth look at the Invitae Corporation (NVTA) stock

Invitae Corporation (NYSE:NVTA) has a beta value of 1.87 and has seen 3,163,502 shares traded in the last trading session. The company, currently valued at $6.51 Billion, closed the last trade at $32.87 per share which meant it lost -$2.03 on the day or -5.82% during that session. The NVTA stock price is -87.37% off its 52-week high price of $61.59 and 62.21% above the 52-week low of $12.42. If we look at the company’s 10-day average daily trading volume, we find that it stood at 5Million shares traded. The 3-month trading volume is 4.78 Million shares.

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The consensus among analysts is that Invitae Corporation (NVTA) is an Overweight stock at the moment, with a recommendation rating of 2.1. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 4 out of 8 have rated it as a Hold, with 4 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.59.

Invitae Corporation (NYSE:NVTA) trade information

Despite being -5.82% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, Apr 27 when the NVTA stock price touched $38.20- or saw a rise of 13.95%. Year-to-date, Invitae Corporation shares have moved -21.38%, while the 5-day performance has seen it change -13.25%. Over the past 30 days, the shares of Invitae Corporation (NYSE:NVTA) have changed -16.13%. Short interest in the company has seen 24.75 Million shares shorted with days to cover at 5.18.

Wall Street analysts have a consensus price target for the stock at $53.5, which means that the shares’ value could jump 62.76% from current levels. The projected low price target is $45 while the price target rests at a high of $65. In that case, then, we find that the current price level is +97.75% off the targeted high while a plunge would see the stock lose 36.9% 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 lost -24.89% over the past 6 months, with this year growth rate of 16.19%, compared to 10.4% for the industry. Other than that, the company has, however Increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 26.3% and 27.3% for the next quarter. Revenue growth from the last financial year stood is estimated to be +65.7%.

7 analysts offering their estimates for the company have set an average revenue estimate of $101.46 Million for the current quarter. 7 have an estimated revenue figure of $108.89 Million for the next quarter concluding in June 01, 2021. Year-ago sales stood $59.41 Million for this quarter, and analysts expect sales will grow by 70.8% for the current quarter.

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 -7.1% over the past 5 years. Earnings growth for 2021 is a modest -68% while over the next 5 years, the company’s earnings are expected to increase by 8%.


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Invitae Corporation (NYSE:NVTA)’s Major holders

Insiders own 0.68% of the company shares, while shares held by institutions stand at 84.48% with a share float percentage of 85.06%. Investors are also buoyed by the number of investors in a company, with Invitae Corporation having a total of 479 institutions that hold shares in the company. The top two institutional holders are ARK Investment Management, LLC with over 27Million shares worth more than $1.13 Billion. As of December 30, 2020, ARK Investment Management, LLC held 13.73% of shares outstanding.

The other major institutional holder is Baker Brothers Advisors, LLC, with the holding of over 15.65 Million shares as of December 30, 2020. The firm’s total holdings are worth over $654.29 Million and represent 7.96% of shares outstanding.

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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 March 30, 2021, the former fund manager holds about 7.77% shares in the company for having 15282622 shares of worth $583.95 Million while later fund manager owns 5.2 Million shares of worth $198.57 Million as of March 30, 2021, which makes it owner of about 2.64% of company’s outstanding stock.

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