Invitae Target of Unusually Large Options Trading (NYSE:NVTA)

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Invitae Co. (NYSE:NVTAGet Rating) was the target of unusually large options trading on Friday. Traders bought 17,451 call options on the stock. This represents an increase of 152% compared to the typical volume of 6,935 call options.

Invitae Stock Up 25.0 %

Shares of NYSE:NVTA opened at $4.00 on Friday. Invitae has a 52-week low of $1.83 and a 52-week high of $32.93. The firm has a market capitalization of $941.06 million, a P/E ratio of -0.30 and a beta of 1.58. The stock has a 50 day moving average price of $3.07 and a 200-day moving average price of $4.72. The company has a debt-to-equity ratio of 4.12, a quick ratio of 6.07 and a current ratio of 6.42.

Invitae (NYSE:NVTAGet Rating) last announced its earnings results on Tuesday, August 9th. The medical research company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.06. Invitae had a negative return on equity of 29.91% and a negative net margin of 620.70%. The firm had revenue of $136.62 million during the quarter, compared to analyst estimates of $137.47 million. As a group, equities research analysts anticipate that Invitae will post -2.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NVTA shares. SVB Leerink lowered Invitae from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 19th. Credit Suisse Group started coverage on Invitae in a research note on Wednesday, August 24th. They issued an “underperform” rating for the company. Piper Sandler began coverage on Invitae in a research note on Thursday, June 2nd. They issued an “underweight” rating for the company. StockNews.com raised Invitae to a “sell” rating in a research report on Thursday, September 1st. Finally, Benchmark lowered Invitae from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat.com, Invitae presently has a consensus rating of “Hold” and an average target price of $13.56.

Insider Buying and Selling

In other news, Director Sean E. George sold 22,085 shares of the company’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $4.55, for a total value of $100,486.75. Following the completion of the transaction, the director now directly owns 788,656 shares in the company, valued at approximately $3,588,384.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Sean E. George sold 22,085 shares of the company’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $4.55, for a total value of $100,486.75. Following the completion of the transaction, the director now directly owns 788,656 shares in the company, valued at approximately $3,588,384.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Brida sold 7,048 shares of the company’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $4.55, for a total value of $32,068.40. Following the completion of the transaction, the insider now owns 386,267 shares of the company’s stock, valued at $1,757,514.85. The disclosure for this sale can be found here. Insiders sold a total of 33,735 shares of company stock worth $152,009 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Invitae

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MQS Management LLC purchased a new stake in shares of Invitae in the 2nd quarter worth approximately $28,000. Tarbox Family Office Inc. grew its stake in shares of Invitae by 5,962.0% in the 2nd quarter. Tarbox Family Office Inc. now owns 12,427 shares of the medical research company’s stock worth $30,000 after buying an additional 12,222 shares during the last quarter. Xponance Inc. purchased a new stake in shares of Invitae in the 2nd quarter worth approximately $30,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Invitae in the 2nd quarter worth approximately $30,000. Finally, Commerce Bank purchased a new stake in Invitae during the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 88.27% of the company’s stock.

Invitae Company Profile

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Invitae Corporation, a medical genetics company, integrates genetic information into mainstream medicine to improve healthcare of people in the United States, Canada, and internationally. The company offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, oncology, metabolic conditions, and rare diseases; digital health solutions; and health data services.

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