During the last session, Invitae Corporation (NYSE:NVTA)’s traded shares were 6.73 million, with the beta value of the company hitting 1.75. At the end of the trading day, the stock’s price was $1.15, reflecting an intraday loss of -6.50% or -$0.08. The 52-week high for the NVTA share is $9.00, that puts it down -682.61 from that peak though still a striking 8.7% gain since the share price plummeted to a 52-week low of $1.05. The company’s market capitalization is $316.47M, and the average intraday trading volume over the past 10 days was 8.88 million shares, and the average trade volume was 8.10 million shares over the past three months.
Invitae Corporation (NVTA) received a consensus recommendation of an Underweight from analysts. That translates to a mean rating of 3.40. NVTA has a Sell rating from 5 analyst(s) out of 11 analysts who have looked at this stock. 6 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 0 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.37.
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Invitae Corporation (NYSE:NVTA) trade information
Invitae Corporation (NVTA) registered a -6.50% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -6.50% in intraday trading to $1.15 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -1.71%, and it has moved by -7.26% in 30 days. Based on these gigs, the overall price performance for the year is -68.83%. The short interest in Invitae Corporation (NYSE:NVTA) is 49.96 million shares and it means that shorts have 8.36 day(s) to cover.
Invitae Corporation (NVTA) estimates and forecasts
Statistics show that Invitae Corporation has outperformed its competitors in share price, compared to the industry in which it operates. Invitae Corporation (NVTA) shares have gone down -58.03% during the last six months, with a year-to-date growth rate more than the industry average at 32.73% against 10.70. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 45.60% this quarter and then jump 19.00% in the quarter after that. In the rating firms’ projections, revenue will decrease -3.60% compared to the previous financial year.
Revenue for the current quarter is expected to be $120.77 million as predicted by 9 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to $127.41 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $136.62 million and $133.54 million respectively. In this case, analysts expect current quarter sales to shrink by -11.60% and then drop by -4.60% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -52.40%. While earnings are projected to return -633.60% in 2023, the next five years will return 8.00% per annum.
Invitae Corporation is due to release its next quarterly earnings between August 07 and August 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Invitae Corporation (NYSE:NVTA)’s Major holders
Invitae Corporation insiders own 0.78% of total outstanding shares while institutional holders control 66.36%, with the float percentage being 66.88%. ARK Investment Management, LLC is the largest shareholder of the company, while 357 institutions own stock in it. As of Mar 30, 2023, the company held over 31.33 million shares (or 12.02% of all shares), a total value of $36.03 million in shares.
The next largest institutional holding, with 20.72 million shares, is of Blackrock Inc.’s that is approximately 7.95% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $23.83 million.
Also, the Mutual Funds coming in first place with the largest holdings of Invitae Corporation (NVTA) shares are ARK ETF Tr-ARK Innovation ETF and ARK ETF Tr-ARK Genomic Revolution ETF. Data provided on Mar 30, 2023 indicates that ARK ETF Tr-ARK Innovation ETF owns about 18.58 million shares. This amounts to just over 7.58 percent of the company’s overall shares, with a $21.37 million market value. The same data shows that the other fund manager holds slightly less at 8.11 million, or about 3.31% of the stock, which is worth about $9.32 million.