Invitae Corporation (NYSE:NVTA) traded at $2.63 at close of the session on Tuesday, 01/24/23, made a downward move of -3.66% on its previous day’s price.
Looking at the stock we see that its previous close was $2.73 and the beta (5Y monthly) reads 1.61 with the day’s price range being $2.61 – $2.93. In terms of its 52-week price range, NVTA has a high of $12.04 and a low of $1.67. The company’s stock has gained about 40.64% over that past 30 days.
Invitae Corporation has a market cap of $606.24 million and is expected to release its quarterly earnings report on Feb 22, 2023 – Feb 27, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$0.63, with the EPS growth for the year raised at -$2.65 for 2022 and -$1.63 for next year. These figures represent 14.50% and 38.50% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $131.35 million, with a low of $126.2 million and a high of $135.42 million. The median projection represents growth squeezing down to 3.80% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $517.43 million, or 12.40% up from figures reported last year.
There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the NVTA stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 50% Sell.
Looking further, we note the current price level is 22.70% off its SMA20 and 8.21% from its 50-day simple moving average. The RSI (14) is pointing at 60.63 while the volatility over the past week is 11.30% and jumps to 9.88% over the past one month. The beta value is 1.83, while the average true range (ATR) is currently pointing at 0.23.
Let’s briefly compare Invitae Corporation (NVTA) stock to its peers. We find that current price change of -3.66% and -75.67% over the past 12 months for NVTA competes that of HTG Molecular Diagnostics Inc. (HTGM), which has seen its stock price rise 12.18% in the last trading session and was -89.51% over the last one year.. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at -0.07% and 0.31%, respectively, at close of the trading.
Coming back to Invitae Corporation (NYSE:NVTA), we note that the average 3-month trading volume was 8.34 million, while that of the preceding 10-day period stands at 9.05 million. Current shares outstanding are 237.97 million.
The insiders hold 1.00% of the company’s shares while institutions hold 72.90%. The data shows that short shares as of Oct 13, 2022, stood at 42.99 million at a short ratio of 4.55. This represents a 18.27% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 38.32 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 41.40% up in year-to-date price movement.