468 institutions hold shares in Invitae Corporation (NVTA), with 1.34M shares held by insiders accounting for 0.68% while institutional investors hold 84.07% of the company’s shares. The shares outstanding are 180.19M, and float is at 164.10M with Short Float at 17.28%. Institutions hold 83.50% of the Float.
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The top institutional shareholder in the company is ARK Investment Management, LLC with over 27.0 million shares valued at $1.13 billion. The investor’s holdings represent 13.73% of the NVTA Shares outstanding. As of Dec 30, 2020, the second largest holder is Baker Brothers Advisors, LLC with 15.65 million shares valued at $654.29 million to account for 7.96% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 14.97 million shares representing 7.61% and valued at over $625.69 million, while Casdin Capital, LLC holds 6.25% of the shares totaling 12.3 million with a market value of $514.18 million.
Invitae Corporation (NYSE: NVTA) is -10.64% lower on its value in year-to-date trading and has touched a low of $12.42 and a high of $61.59 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The NVTA stock was last observed hovering at around $40.34 in the last trading session, with the day’s loss setting it -2.98% off its average median price target of $53.00 for the next 12 months. It is also 42.52% off the consensus price target high of $65.00 offered by 8 analysts, but current levels are 16.98% higher than the price target low of $45.00 for the same period.
Currently trading at $37.36, the stock is -5.01% and -14.51% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.1 million and changing -7.39% at the moment leaves the stock -10.53% off its SMA200. NVTA registered 182.39% gain for a year compared to 6-month loss of -17.71%. The firm has a 50-day simple moving average (SMA 50) of $40.60 and a 200-day simple moving average (SMA200) of $46.32.
The stock witnessed a 7.48% gain in the last 1 month and extending the period to 3 months gives it a -19.17%, and is 5.84% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.21% over the week and 8.36% over the month.
Invitae Corporation (NVTA) has around 2100 employees, a market worth around $7.16B and $279.60M in sales. Distance from 52-week low is 200.81% and -39.34% from its 52-week high. The company has generated returns on investments over the last 12 months (-22.80%).
Invitae Corporation (NVTA) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Invitae Corporation (NVTA) is a “Overweight”. 8 analysts offering their recommendations for the stock have an average rating of 2.40, where 4 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Invitae Corporation is expected to release its quarterly report on 08/10/2021 and quarterly earnings per share for the current quarter are estimated at -$0.59 with sales reaching $101.46M over the same period.The EPS is expected to shrink by -68.00% this year, but quarterly earnings will post 65.50% year-over-year. Quarterly sales are estimated to grow 70.80% in year-over-year returns.
Invitae Corporation (NVTA) Insider Activity
A total of 120 insider transactions have happened at Invitae Corporation (NVTA) in the last six months, with sales accounting for 101 and purchases happening 19 times. The most recent transaction is an insider sale by George Sean E, the company’s President & CEO. SEC filings show that George Sean E sold 3,675 shares of the company’s common stock on Mar 22 at a price of $42.61 per share for a total of $0.16 million. Following the sale, the insider now owns 0.67 million shares.
Invitae Corporation disclosed in a document filed with the SEC on Mar 15 that Stueland Katherine (Chief Commercial Officer) sold a total of 12,443 shares of the company’s common stock. The trade occurred on Mar 15 and was made at $42.90 per share for $0.53 million. Following the transaction, the insider now directly holds 0.22 million shares of the NVTA stock.
Still, SEC filings show that on Mar 15, George Sean E (President & CEO) disposed off 27,417 shares at an average price of $42.90 for $1.18 million. The insider now directly holds 683,020 shares of Invitae Corporation (NVTA).
Invitae Corporation (NVTA): Who are the competitors?
The company’s main competitors (and peers) include Radius Health Inc. (RDUS) that is trading 54.10% up over the past 12 months and HTG Molecular Diagnostics Inc. (HTGM) that is 18.16% higher over the same period. Short interest in the company’s stock has fallen -11.53% from the last report on Mar 14, 2021 to stand at a total of 28.35 million short shares sold with a short interest ratio of 4.9.