Price Action Report: A Reversal for InVitae Corp Is Not Near. The Stock Rises Again

Price Action Report: A Reversal for InVitae Corp Is Not Near. The Stock Rises Again

The stock of InVitae Corp (NYSE:NVTA) is a huge mover today! About 341,930 shares traded hands or 3.77% up from the average. InVitae Corp (NYSE:NVTA) has declined 43.30% since April 18, 2016 and is downtrending. It has underperformed by 47.73% the S&P500.
The move comes after 8 months positive chart setup for the $174.86M company. It was reported on Nov, 18 by Barchart.com. We have $17.25 PT which if reached, will make NYSE:NVTA worth $307.75 million more.

InVitae Corp (NYSE:NVTA) Ratings Coverage

Out of 3 analysts covering Invitae (NYSE:NVTA), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Invitae has been the topic of 4 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The stock has “Overweight” rating given by JP Morgan on Tuesday, August 9. The rating was initiated by William Blair with “Mkt Perform” on Friday, August 14. The firm has “Outperform” rating by Leerink Swann given on Thursday, November 10. As per Thursday, January 28, the company rating was downgraded by Leerink Swann.

According to Zacks Investment Research, “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.”

Another recent and important InVitae Corp (NYSE:NVTA) news was published by Reuters.com which published an article titled: “BRIEF-Invitae corp – has commenced an underwritten public offering of $40 …” on November 15, 2016.

NVTA Company Profile

Invitae Corporation (Invitae), incorporated on January 13, 2010, 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. The Company’s laboratory is located in San Francisco, California. The Company’s product is an assay of over 600 genes that can be used for multiple indications. The test includes multiple genes associated with hereditary cancer, neurological disorders, cardiovascular disorders and other hereditary conditions.

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