Invitae (NVTA) Receives a Buy from Leerink Partners

By Austin Angelo

Leerink Partners analyst Puneet Souda maintained a Buy rating on Invitae (NVTAResearch Report) on April 8. The company’s shares closed last Friday at $38.00.

According to TipRanks.com, Souda is a 5-star analyst with an average return of 27.1% and a 69.4% success rate. Souda covers the Healthcare sector, focusing on stocks such as HTG Molecular Diagnostics, AbCellera Biologics, and Castle Biosciences.

Invitae has an analyst consensus of Strong Buy, with a price target consensus of $50.33, representing a 32.2% upside. In a report issued on April 5, Oppenheimer also upgraded the stock to Buy with a $48.00 price target.

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The company has a one-year high of $61.59 and a one-year low of $12.42. Currently, Invitae has an average volume of 4.65M.

Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVTA in relation to earlier this year. Last month, Sean George, the President & CEO of NVTA bought 23,333 shares for a total of $29,400.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Invitae Corp. engages in the provision of genetic information into mainstream medical practice. It includes comprehensive panels for hereditary conditions in cancer, cardiology, neurology, pediatric, and rare diseases. The company was founded by Randal W. Scott and Sean E. George on January 13, 2010 and is headquartered in San Francisco, CA.