Yesterday it was reported that the President & CEO of Invitae (NVTA), Sean George, exercised options to buy 10,000 NVTA shares at $1.26 a share, for a total transaction value of $12.6K.
Following Sean George’s last NVTA Buy transaction on September 14, 2020, the stock climbed by 8.5%. This is George’s first Buy trade following 6 Sell transactions.
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Based on Invitae’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $68.73 million and GAAP net loss of -$102,902,000. In comparison, last year the company earned revenue of $56.51 million and had a GAAP net loss of $78.71 million. The company has a one-year high of $61.59 and a one-year low of $7.42. The Company has a Price to Book ratio of 404.46.
Based on 6 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $46.31, reflecting a -7.5% downside. Three different firms, including Cowen & Co. and Leerink Partners, currently also have a Buy rating on the stock.
In the last 30 days, insiders have sold $4.08M worth of NVTA shares and purchased $12.6K worth of NVTA shares. The insider sentiment on Invitae has been negative according to 83 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.
Sean George’s trades have generated a -61.5% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.
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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.
