In last trading session, Invitae Corporation (NYSE:NVTA) saw 6.64 million shares changing hands with its beta currently measuring 1.59. Company’s recent per share price level of $2.82 trading at $0.25 or 9.73% at ring of the bell on the day assigns it a market valuation of $723.56M. That closing price of NVTA’s stock is at a discount of -558.16% from its 52-week high price of $18.56 and is indicating a premium of 35.11% from its 52-week low price of $1.83. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 10.87 million shares which gives us an average trading volume of 9.99 million if we extend that period to 3-months.
For Invitae Corporation (NVTA), analysts’ consensus is at an average recommendation of an Underweight while assigning it a mean rating of 3.30. Splitting up the data highlights that, out of 11 analysts covering the stock, 3 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 8 suggested the stock as a Hold whereas 0 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.63 in the current quarter.
Invitae Corporation (NYSE:NVTA) trade information
Upright in the green during last session for gaining 9.73%, in the last five days NVTA remained trading in the red while hitting it’s week-highest on Friday, 11/18/22 when the stock touched $2.82 price level, adding 9.03% to its value on the day. Invitae Corporation’s shares saw a change of -81.53% in year-to-date performance and have moved -10.19% in past 5-day. Invitae Corporation (NYSE:NVTA) showed a performance of 23.68% in past 30-days. Number of shares sold short was 42.99 million shares which calculate 4.55 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $2.79 to the stock, which implies a fall of -1.08% to its current value. Analysts have been projecting $1.00 as a low price target for the stock while placing it at a high target of $4.00. It follows that stock’s current price would drop -41.84% in reaching the projected high whereas dropping to the targeted low would mean a gain of 64.54% for stock’s current value.
Invitae Corporation (NVTA) estimates and forecasts
Statistics highlight that Invitae Corporation is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -17.06% of value to its shares in past 6 months, showing an annual growth rate of 21.61% while that of industry is -4.80. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 30.80% in the current quarter and calculating 27.20% increase in the next quarter. This year revenue growth is estimated to rise 12.40% from the last financial year’s standing.
10 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $131.35 million for the same. And 10 analysts are in estimates of company making revenue of $125.44 million in the next quarter that will end on Dec 2022. Company posted $126.55 million and $126.12 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 3.80% while estimating it to be -0.50% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 9.90% during past 5 years. In 2022, company’s earnings growth rate is likely to be around 59.80% while estimates for its earnings growth in next 5 years are of 8.00%.
Invitae Corporation is more likely to be releasing its next quarterly report between February 22 and February 27 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Invitae Corporation (NYSE:NVTA)’s Major holders
Insiders are in possession of 1.02% of company’s total shares while institution are holding 84.38 percent of that, with stock having share float percentage of 85.25%. Investors also watch the number of corporate investors in a company very closely, which is 84.38% institutions for Invitae Corporation that are currently holding shares of the company. ARK Investment Management, LLC is the top institutional holder at NVTA for having 30.47 million shares of worth $74.95 million. And as of Sep 29, 2022, it was holding 12.95% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 21.17 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 9.00% of outstanding shares, having a total worth of $51.67 million.
On the other hand, ARK ETF Tr-ARK Innovation ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2022, the former fund manager was holding 20.1 million shares of worth $49.43 million or 8.54% of the total outstanding shares. The later fund manager was in possession of 6.77 million shares on Jun 29, 2022, making its stake of worth around $16.52 million in the company or a holder of 2.88% of company’s stock.