Invitae (NYSE:NVTA – Free Report) had its price target reduced by Piper Sandler to $1.50 in a report issued on Tuesday morning, MarketBeat.com reports. They currently have an underweight rating on the medical research company’s stock.

A number of other equities research analysts have also recently weighed in on NVTA. Raymond James cut Invitae from a market perform rating to an underperform rating in a report on Monday, May 15th. StockNews.com initiated coverage on Invitae in a report on Thursday, May 18th. They set a sell rating on the stock. Finally, The Goldman Sachs Group cut their price target on Invitae from $1.50 to $1.00 and set a sell rating on the stock in a report on Friday, July 21st. Four analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, Invitae currently has an average rating of Reduce and a consensus price target of $2.08.

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Invitae Stock Performance

Institutional Investors Weigh In On Invitae

NVTA opened at $1.08 on Tuesday. The business’s 50 day moving average is $1.22 and its 200-day moving average is $1.43. The stock has a market cap of $287.04 million, a PE ratio of -0.33 and a beta of 1.74. The company has a current ratio of 2.97, a quick ratio of 2.83 and a debt-to-equity ratio of 15.68. Invitae has a twelve month low of $1.02 and a twelve month high of $4.20.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its holdings in Invitae by 96.2% during the second quarter. Alliancebernstein L.P. now owns 482,680 shares of the medical research company’s stock worth $545,000 after purchasing an additional 236,644 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Invitae by 17.4% during the 2nd quarter. Wells Fargo & Company MN now owns 735,911 shares of the medical research company’s stock worth $832,000 after acquiring an additional 108,819 shares in the last quarter. IHT Wealth Management LLC grew its holdings in shares of Invitae by 44.5% in the 2nd quarter. IHT Wealth Management LLC now owns 95,050 shares of the medical research company’s stock worth $107,000 after acquiring an additional 29,280 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Invitae during the second quarter worth $62,000. Finally, Royal Bank of Canada lifted its holdings in shares of Invitae by 49.7% during the second quarter. Royal Bank of Canada now owns 32,304 shares of the medical research company’s stock valued at $36,000 after purchasing an additional 10,731 shares during the last quarter. Institutional investors own 70.10% of the company’s stock.

About Invitae

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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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