Invitae (NYSE:NVTA) Earns Hold Rating from Analysts at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Invitae (NYSE:NVTAGet Free Report) in a research report issued on Sunday. The brokerage set a “hold” rating on the medical research company’s stock.

Separately, The Goldman Sachs Group lowered their target price on Invitae from $1.00 to $0.50 and set a “sell” rating on the stock in a research note on Friday, October 20th.

Check Out Our Latest Research Report on Invitae

Invitae Trading Up 91.8 %

Shares of Invitae stock opened at $0.04 on Friday. The firm has a market capitalization of $10.71 million, a P/E ratio of 0.00 and a beta of 1.59. The business’s fifty day simple moving average is $0.49 and its 200 day simple moving average is $0.68. Invitae has a 12 month low of $0.02 and a 12 month high of $2.34.

Hedge Funds Weigh In On Invitae

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC grew its position in Invitae by 2.1% during the third quarter. ARK Investment Management LLC now owns 32,942,606 shares of the medical research company’s stock worth $19,937,000 after buying an additional 679,672 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Invitae by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 21,624,354 shares of the medical research company’s stock worth $53,196,000 after purchasing an additional 544,941 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Invitae by 2.9% in the 2nd quarter. BlackRock Inc. now owns 21,323,634 shares of the medical research company’s stock worth $24,096,000 after purchasing an additional 604,081 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Invitae by 7.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,811,895 shares of the medical research company’s stock worth $5,437,000 after purchasing an additional 348,802 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Invitae by 34.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,551,464 shares of the medical research company’s stock worth $6,226,000 after purchasing an additional 647,362 shares in the last quarter. 61.28% of the stock is currently owned by hedge funds and other institutional investors.

Invitae Company Profile

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Invitae Corporation, a medical genetics company, that provides genetic information to improve healthcare of people in the United States, Canada, and internationally. The company offers genetic tests in various clinical areas, including hereditary cancer, precision oncology, women's health, rare diseases, and pharmacogenomics; digital health solutions; and health data services.

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