Check out these key findings about Invitae Corporation (NVTA)

Invitae Corporation (NYSE: NVTA) stock jumped 5.37% on Friday to $2.55 against a previous-day closing price of $2.42. With 6.34 million shares changed hands, the volume of the stock remained lighter than its average volume of 8.38 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $2.5900 whereas the lowest price it dropped to was $2.3700. The 52-week range on NVTA shows that it touched its highest point at $12.70 and its lowest point at $1.67 during that stretch. It currently has a 1-year price target of $2.84. Beta for the stock currently stands at 1.83.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NVTA was up-trending over the past week, with a rise of 8.97%, but this was up by 30.10% over a month. Three-month performance surged to 24.39% while six-month performance rose 8.51%. The stock lost -77.15% in the past year, while it has gained 37.10% so far this year. A look at the trailing 12-month EPS for NVTA yields -13.84 with Next year EPS estimates of -1.62. For the next quarter, that number is -0.54. This implies an EPS growth rate of 59.80% for this year and 32.80% for next year. EPS is expected to grow by 8.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 9.90%.

Float and Shares Shorts:

At present, 237.97 million NVTA shares are outstanding with a float of 236.53 million shares on hand for trading. On Oct 13, 2022, short shares totaled 42.99 million, which was 18.27% higher than short shares on Sep 14, 2022. In addition to Mr. Kenneth D. Knight as the firm’s Pres, CEO & Director, Ms. Yafei Wen serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 84.38% of NVTA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 8.65% of NVTA, in contrast to 42.12% held by mutual funds. Shares owned by individuals account for 28.80%. As the largest shareholder in NVTA with 12.54% of the stake, ARK Investment Management LLC holds 30,468,381 shares worth 30,468,381. A second-largest stockholder of NVTA, The Vanguard Group, Inc., holds 21,294,733 shares, controlling over 8.77% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in NVTA, holding 18,756,696 shares or 7.72% stake. With a 7.20% stake in NVTA, the ARK Innovation ETF is the largest stakeholder. A total of 17,479,677 shares are owned by the mutual fund manager. The Nikko AM Global Umbrella Fund – A, which owns about 4.81% of NVTA stock, is the second-largest Mutual Fund holder. It holds 11,685,379 shares valued at 21.73 million. Vanguard Total Stock Market Index holds 3.07% of the stake in NVTA, owning 7,454,414 shares worth 13.87 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NVTA since 11 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 3 suggest SELL ratings. Of the remaining analysts, 8 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With NVTA analysts setting a high price target of $4.00 and a low target of $1.00, the average target price over the next 12 months is $2.84. Based on these targets, NVTA could surge 56.86% to reach the target high and fall by -60.78% to reach the target low. Reaching the average price target will result in a growth of 11.37% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. NVTA will report FY 2022 earnings on 02/23/2024. Analysts have provided yearly estimates in a range of -$2.14 being high and -$2.78 being low. For NVTA, this leads to a yearly average estimate of -$2.40. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Invitae Corporation surprised analysts by $0.21 when it reported -$0.42 EPS against a consensus estimate of -$0.63. The surprise factor in the prior quarter was $0.08. Based on analyst estimates, the high estimate for the next quarter is -$0.27 and the low estimate is -$0.91. The average estimate for the next quarter is thus -$0.56.

Summary of Insider Activity:

Insiders traded NVTA stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 55,979 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 1,531,424 while 257,304 shares were sold.

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