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

StockNews.com started coverage on shares of Invitae (NYSE:NVTA) in a research note issued to investors on Saturday. The brokerage issued a hold rating on the medical research company’s stock.

Invitae Price Performance

Invitae stock opened at $0.01 on Friday. Invitae has a 12-month low of $0.02 and a 12-month high of $0.02. The stock has a market capitalization of $2.94 million, a PE ratio of 0.00 and a beta of 1.59. The firm has a 50 day simple moving average of $0.09 and a 200-day simple moving average of $0.42.

Hedge Funds Weigh In On Invitae

Hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Invitae by 12.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,588,422 shares of the medical research company’s stock valued at $1,795,000 after purchasing an additional 179,611 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Invitae during the 3rd quarter worth $29,000. Longitude Cayman Ltd. grew its holdings in shares of Invitae by 29.3% in the 3rd quarter. Longitude Cayman Ltd. now owns 776,000 shares of the medical research company’s stock worth $470,000 after acquiring an additional 176,000 shares during the last quarter. ARK Investment Management LLC grew its holdings in shares of Invitae by 2.1% in the 3rd quarter. ARK Investment Management LLC now owns 32,942,606 shares of the medical research company’s stock worth $19,937,000 after acquiring an additional 679,672 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of Invitae by 24.1% during the third quarter. Harbor Capital Advisors Inc. now owns 224,642 shares of the medical research company’s stock worth $136,000 after purchasing an additional 43,642 shares during the period. 61.28% of the stock is currently owned by institutional investors and hedge funds.

About Invitae

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.