Media headlines about Invitae (NYSE:NVTA) have trended somewhat positive recently, according to Accern Sentiment. The research group identifies negative and positive press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Invitae earned a media sentiment score of 0.22 on Accern’s scale. Accern also gave media stories about the medical research company an impact score of 44.8033263040462 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the media stories that may have impacted Accern’s scoring:
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Shares of Invitae stock traded down $0.55 on Friday, hitting $7.27. The stock had a trading volume of 822,047 shares, compared to its average volume of 762,627. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.53 and a current ratio of 2.53. Invitae has a one year low of $4.35 and a one year high of $10.41. The stock has a market capitalization of $488.58 million, a price-to-earnings ratio of -2.74 and a beta of 1.03.
Invitae (NYSE:NVTA) last issued its earnings results on Wednesday, May 9th. The medical research company reported ($0.66) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.61) by ($0.05). The business had revenue of $27.67 million during the quarter, compared to analysts’ expectations of $26.86 million. Invitae had a negative return on equity of 127.38% and a negative net margin of 154.96%. Invitae’s quarterly revenue was up 167.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.64) EPS. equities research analysts forecast that Invitae will post -2.15 earnings per share for the current fiscal year.
Several research analysts have weighed in on NVTA shares. Zacks Investment Research upgraded shares of Invitae from a “hold” rating to a “strong-buy” rating and set a $6.25 price objective on the stock in a report on Wednesday, April 18th. ValuEngine raised shares of Invitae from a “strong sell” rating to a “sell” rating in a research note on Thursday. Benchmark decreased their price target on shares of Invitae from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, February 13th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Invitae from $13.00 to $9.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 13th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $10.05.
In other Invitae news, COO E Lee Bendekgey sold 6,388 shares of the company’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $6.96, for a total transaction of $44,460.48. Following the sale, the chief operating officer now owns 52,396 shares in the company, valued at approximately $364,676.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Bros. Advisors Lp Baker purchased 1,111,111 shares of the business’s stock in a transaction on Wednesday, March 28th. The shares were bought at an average price of $4.50 per share, for a total transaction of $4,999,999.50. The disclosure for this purchase can be found here. Insiders sold a total of 40,515 shares of company stock worth $281,984 in the last quarter. Company insiders own 8.70% of the company’s stock.
About Invitae
Invitae Corporation, a genetic information company, processes DNA-containing samples, analyzes information related to patient-specific genetic variation, and generates test reports for clinicians and their patients in the United States, Canada, and internationally. The company's tests include multiple genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; proactive health and wellness screening; and preimplantation embryo testing and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.
