InVitae Corp (NVTA) Upgraded to “Buy” at Benchmark Co.

InVitae Corp (NASDAQ:NVTA) was upgraded by equities research analysts at Benchmark Co. from a “hold” rating to a “buy” rating in a research note issued on Tuesday, The Fly reports.

A number of other research firms have also recently commented on NVTA. Zacks Investment Research raised shares of InVitae Corp from a “sell” rating to a “hold” rating in a report on Tuesday. Leerink Swann assumed coverage on shares of InVitae Corp in a report on Thursday, November 10th. They issued an “outperform” rating and a $12.00 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $10.81.

InVitae Corp (NASDAQ:NVTA) opened at 9.16 on Tuesday. The firm’s market capitalization is $297.20 million. The company has a 50-day moving average of $8.62 and a 200-day moving average of $8.07. InVitae Corp has a 1-year low of $5.76 and a 1-year high of $11.85.

InVitae Corp (NASDAQ:NVTA) last posted its quarterly earnings data on Monday, February 13th. The company reported ($0.69) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.73) by $0.04. The firm had revenue of $9.20 million for the quarter, compared to the consensus estimate of $8.82 million. During the same period in the prior year, the company earned ($0.76) EPS. The company’s revenue for the quarter was up 187.5% compared to the same quarter last year. On average, equities analysts predict that InVitae Corp will post ($3.08) earnings per share for the current year.

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In other InVitae Corp news, Director Geoffrey Crouse acquired 15,000 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The stock was acquired at an average price of $6.25 per share, for a total transaction of $93,750.00. Following the acquisition, the director now directly owns 34,259 shares in the company, valued at $214,118.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Randal W. Scott acquired 66,666 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was acquired at an average price of $6.00 per share, with a total value of $399,996.00. Following the acquisition, the chairman now owns 3,506,225 shares in the company, valued at $21,037,350. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 814,999 shares of company stock valued at $4,893,744.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Metropolitan Life Insurance Co. NY acquired a new position in shares of InVitae Corp during the second quarter worth about $142,000. BlackRock Inc. raised its position in shares of InVitae Corp by 1.2% in the third quarter. BlackRock Inc. now owns 33,064 shares of the company’s stock worth $290,000 after buying an additional 408 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of InVitae Corp by 95.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 44,528 shares of the company’s stock worth $330,000 after buying an additional 21,794 shares during the period. HighTower Advisors LLC raised its position in shares of InVitae Corp by 24.1% in the third quarter. HighTower Advisors LLC now owns 95,742 shares of the company’s stock worth $840,000 after buying an additional 18,578 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of InVitae Corp during the fourth quarter worth about $879,000.

InVitae Corp Company Profile

Invitae Corporation (Invitae) utilizes an integrated portfolio of laboratory processes, software tools and informatics capabilities to process deoxyribonucleic acid (DNA)-containing samples, analyze information about patient-specific genetic variation and generate test reports for clinicians and their patients.

5 Day Chart for NASDAQ:NVTA

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