Fintel reports that on May 11, 2023, Goldman Sachs maintained coverage of Invitae (NYSE:NVTA) with a Sell recommendation.

Analyst Price Forecast Suggests 47.75% Upside

As of May 11, 2023, the average one-year price target for Invitae is 2.20. The forecasts range from a low of 1.01 to a high of $4.20. The average price target represents an increase of 47.75% from its latest reported closing price of 1.49.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Invitae is 528MM, an increase of 3.49%. The projected annual non-GAAP EPS is -1.64.

What is the Fund Sentiment?

There are 433 funds or institutions reporting positions in Invitae. This is a decrease of 21 owner(s) or 4.63% in the last quarter. Average portfolio weight of all funds dedicated to NVTA is 0.17%, an increase of 238.45%. Total shares owned by institutions increased in the last three months by 3.39% to 219,887K shares. The put/call ratio of NVTA is 0.19, indicating a bullish outlook.

What are Other Shareholders Doing?

ARK Investment Management holds 31,331K shares representing 12.02% ownership of the company. In it’s prior filing, the firm reported owning 27,073K shares, representing an increase of 13.59%. The firm decreased its portfolio allocation in NVTA by 33.38% over the last quarter.

ARKK – ARK Innovation ETF holds 17,590K shares representing 6.75% ownership of the company. In it’s prior filing, the firm reported owning 18,675K shares, representing a decrease of 6.17%. The firm decreased its portfolio allocation in NVTA by 13.73% over the last quarter.

Nikko Asset Management Americas holds 16,964K shares representing 6.51% ownership of the company. In it’s prior filing, the firm reported owning 17,256K shares, representing a decrease of 1.72%. The firm decreased its portfolio allocation in NVTA by 44.19% over the last quarter.

Sumitomo Mitsui Trust Holdings holds 16,964K shares representing 6.51% ownership of the company. In it’s prior filing, the firm reported owning 17,256K shares, representing a decrease of 1.72%. The firm decreased its portfolio allocation in NVTA by 32.86% over the last quarter.

Casdin Capital holds 9,038K shares representing 3.47% ownership of the company. In it’s prior filing, the firm reported owning 1,126K shares, representing an increase of 87.54%. The firm increased its portfolio allocation in NVTA by 615.85% over the last quarter.

Invitae Background Information
(This description is provided by the company.)

itae Corporation is a leading medical genetics company whose mission is to bring comprehensive genetic information into mainstream medicine to improve healthcare for billions of people. Invitae’s goal is to aggregate the world’s genetic tests into a single service with higher quality, faster turnaround time, and lower prices.

See all Invitae regulatory filings.

This article originally appeared on Fintel