InVitae Corp (NASDAQ:NVTA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

According to Zacks, “Invitae Corporation is engaged in genetic diagnostics for hereditary disorders which include breast, colon and pancreatic cancer. It operates primarily in the United States, Israel and internationally. Invitae Corporation is headquartered in San Francisco, California. “

A number of other equities analysts have also weighed in on NVTA. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $15.00 price objective (up from $14.00) on shares of InVitae Corp in a research report on Wednesday. BidaskClub upgraded shares of InVitae Corp from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, ValuEngine upgraded shares of InVitae Corp from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $12.94.

Shares of InVitae Corp (NASDAQ NVTA) opened at 9.11 on Friday. InVitae Corp has a one year low of $5.76 and a one year high of $11.88. The stock’s market capitalization is $393.79 million. The company’s 50-day moving average is $9.55 and its 200-day moving average is $9.79.

InVitae Corp (NASDAQ:NVTA) last posted its quarterly earnings data on Monday, August 7th. The medical research company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by $0.02. InVitae Corp had a negative net margin of 199.20% and a negative return on equity of 153.27%. The firm had revenue of $14.34 million during the quarter, compared to analysts’ expectations of $13.31 million. During the same quarter last year, the business earned ($0.77) earnings per share. The business’s quarterly revenue was up 157.0% on a year-over-year basis. On average, equities research analysts anticipate that InVitae Corp will post ($2.40) earnings per share for the current year.

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Several large investors have recently modified their holdings of the company. TIAA CREF Investment Management LLC raised its stake in shares of InVitae Corp by 32.8% in the first quarter. TIAA CREF Investment Management LLC now owns 121,549 shares of the medical research company’s stock valued at $1,344,000 after buying an additional 30,039 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of InVitae Corp by 0.6% in the first quarter. Wellington Management Group LLP now owns 3,974,227 shares of the medical research company’s stock valued at $43,955,000 after buying an additional 25,100 shares during the last quarter. American International Group Inc. raised its stake in shares of InVitae Corp by 31.3% in the first quarter. American International Group Inc. now owns 17,174 shares of the medical research company’s stock valued at $190,000 after buying an additional 4,090 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of InVitae Corp during the first quarter valued at approximately $200,000. Finally, Gamco Investors INC. ET AL bought a new stake in shares of InVitae Corp during the first quarter valued at approximately $316,000.

InVitae Corp Company Profile

Invitae Corporation 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.

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