BidaskClub upgraded shares of InVitae Corp (NASDAQ:NVTA) from a hold rating to a buy rating in a report published on Thursday.

Several other equities analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of InVitae Corp from a hold rating to a strong-buy rating and set a $11.00 target price for the company in a report on Wednesday. J P Morgan Chase & Co reiterated an overweight rating and set a $15.00 target price (up from $14.00) on shares of InVitae Corp in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. InVitae Corp presently has an average rating of Buy and a consensus price target of $13.50.

InVitae Corp (NASDAQ:NVTA) traded up 0.41% on Thursday, reaching $9.80. The company had a trading volume of 176,066 shares. InVitae Corp has a one year low of $5.76 and a one year high of $10.96. The company’s 50 day moving average is $9.40 and its 200-day moving average is $9.40. The firm’s market capitalization is $426.73 million.

InVitae Corp (NASDAQ:NVTA) last issued its quarterly earnings data on Monday, August 7th. The medical research company reported ($0.66) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.64) by ($0.02). InVitae Corp had a negative return on equity of 153.27% and a negative net margin of 199.20%. The company 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 expect that InVitae Corp will post ($2.35) earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Verity Asset Management Inc. raised its holdings in InVitae Corp by 0.8% in the 2nd quarter. Verity Asset Management Inc. now owns 10,607 shares of the medical research company’s stock worth $101,000 after acquiring an additional 81 shares during the last quarter. Nationwide Fund Advisors raised its holdings in InVitae Corp by 21.1% in the 1st quarter. Nationwide Fund Advisors now owns 17,121 shares of the medical research company’s stock worth $189,000 after acquiring an additional 2,987 shares during the last quarter. Donald L. Hagan LLC raised its holdings in InVitae Corp by 30.0% in the 2nd quarter. Donald L. Hagan LLC now owns 13,000 shares of the medical research company’s stock worth $124,000 after acquiring an additional 3,000 shares during the last quarter. American International Group Inc. raised its holdings in InVitae Corp by 31.3% in the 1st quarter. American International Group Inc. now owns 17,174 shares of the medical research company’s stock worth $190,000 after acquiring an additional 4,090 shares during the last quarter. Finally, Credit Suisse AG raised its holdings in InVitae Corp by 22.9% in the 1st quarter. Credit Suisse AG now owns 25,178 shares of the medical research company’s stock worth $279,000 after acquiring an additional 4,694 shares during the last quarter.

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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