Invitae Corp. (NVTA), a leading medical genetics company, announced preliminary unaudited full-year 2019 results, driving strong growth in volume and revenues. The company signals continued momentum going into 2020.
Invitae Corp. accessioned more than 482,000 samples and generated approximately $216 million in revenue in 2019. The company issues 2020 guidance of more than 725,000 samples accessioned and more than $330 million in revenue. This reflects a more than 50% annual growth in both gross volume and revenue.
Is Invitae A Buy?
Invitae Corp. (NYSE: NVTA) is a unique company well positioned to tackle the use of genetic information across all stages of life—from preconception through adult diagnostics. Invitae has acquired three companies that are intended to further enhance Invitae’s clinical variant interpretation capabilities. This will reduce the cost of testing and provide exceptional customer workflows and patient support. The company presented and published clinical research and launched Invitae Discover, a clinical research platform that leverages biometric data available through Apple Watch. This platform provides a better understanding of the genetic causes of disease, with the first study in cardiovascular disease.
Invitae Price Target
Invitae Corp. (NVTA) has an institutional ownership of (89.54%). 364 institutional investors and shareholders have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). These institutions hold a total of 90,567,880 shares. Largest shareholders include Baker Brothers Advisors LP, ARK Investment Management LLC, Nikko Asset Management Americas, Inc., Sumitomo Mitsui Trust Holdings, Inc., BlackRock Inc., Gilder Gagnon Howe & Co Llc, State Street Corp, Vanguard Group Inc, Alliancebernstein L.p., and Casdin Capital, LLC.