Invitae Corp Stock Research

Market Summary

USD1.290.00

Delayedas of 27 Mar 2023, 02:00 pm

0.00%

NVTA Alerts

Big jump in Earnings (Y/Y)
Losses in recent quarter

NVTA Stock Price

NVTA RSI Chart

NVTA Valuation

Market Cap

316.8M

Price/Earnings (Trailing)

-0.1

Price/Sales (Trailing)

0.61

EV/EBITDA

-0.02

Price/Free Cashflow

-0.58

NVTA Price/Sales (Trailing)

NVTA Profitability

Operating Margin

19.18%

EBT Margin

-610.34%

Return on Equity

-3.1K%

Return on Assets

-158.96%

Free Cashflow Yield

-172.45%

NVTA Fundamentals

NVTA Revenue

Revenue (TTM)

516.3M

Revenue Y/Y

-2.91%

Revenue Q/Q

-8.3%

NVTA Earnings

Earnings (TTM)

-3.1B

Earnings Y/Y

51.34%

Earnings Q/Q

66.86%

Price Action

52 Week Range

1.189.18

(Low)(High)

Last 7 days

-7.2%

Last 30 days

-37.4%

Last 90 days

-28.7%

Trailing 12 Months

-84.3%

NVTA Financial Health

Current Ratio

6.41

NVTA Investor Care

Shares Dilution (1Y)

7.65%

Diluted EPS (TTM)

-17.25

Peers (Alternatives to Invitae)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
ABBV	279.9B	58.1B	4.88%	1.38%	23.64	4.82	3.30%	2.55%
REGN	87.7B	12.2B	9.61%	20.63%	20.21	7.2	-24.26%	-46.28%
VRTX	80.8B	8.9B	6.80%	24.91%	24.32	9.05	17.91%	41.84%
INCY	15.6B	3.4B	-10.55%	-10.18%	45.92	4.61	13.67%	-64.09%
MID-CAP
NTRA	6.3B	820.2M	18.24%	39.36%	-11.51	7.68	31.13%	-16.13%
ARWR	2.6B	278.3M	-26.06%	-48.44%	-16.69	9.26	92.72%	15.56%
SMALL-CAP
VCYT	1.6B	296.5M	-8.08%	-20.51%	-43.24	5.33	35.09%	51.62%
CSTL	597.7M	137.0M	-4.54%	-49.04%	-8.9	4.36	45.65%	-114.55%
CDNA	479.1M	321.8M	-36.12%	-76.84%	-6.25	1.49	8.57%	-149.86%
NVTA	316.8M	516.3M	-37.38%	-84.33%	-0.1	0.61	12.13%	-719.59%
ORGO	247.4M	450.9M	-24.70%	-74.25%	15.93	0.55	-3.52%	-83.51%
CELC	142.1M	-	-18.72%	19.47%	-4	-	-	-39.92%
OPGN	3.6M	3.3M	31.86%	93.51%	-0.11	1.09	-21.77%	4.40%

Financials for Invitae

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-0.7%	516,303,000	519,970,000	500,829,000	480,519,000	460,449,000
S&GA Expenses	-6.6%	218,881,000	234,291,000	240,599,000	234,814,000	225,910,000
R&D Expenses	-13.0%	402,088,000	462,323,000	472,657,000	463,965,000	416,087,000
EBITDA	4.0%	-2,952,379,000	-3,074,270,000	-2,995,039,000	-400,734,000	-
EBITDA Margin	3.3%	-5.72	-5.91	-5.98	-0.83	-
Earnings Before Taxes	3.3%	-3,151,197,000	-3,258,800,000	-3,160,600,000	-516,350,000	-415,863,000
EBT Margin	2.6%	-6.10	-6.27	-6.31	-1.07	-
Interest Expenses	1.0%	56,747,000	56,180,000	56,104,000	55,492,000	49,900,000
Net Income	3.3%	-3,106,293,000	-3,211,600,000	-3,108,620,000	-451,373,000	-379,006,000
Net Income Margin	2.6%	-6.02	-6.18	-6.21	-0.94	-
Free Cahsflow	16.5%	-546,270,000	-654,424,000	-694,738,000	-686,975,000	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-3.6%	1,954	2,026	2,291	4,768	4,920
Current Assets	-5.0%	693	730	894	1,031	1,179
Cash Equivalents	18.6%	257	217	304	325	923
Inventory	1.6%	30.00	30.00	49.00	43.00	34.00
Net PPE	-4.5%	109	114	133	130	115
Goodwill	NaN%	-	-	-	2,283	2,283
Liabilities	-0.8%	1,852	1,867	1,905	1,924	1,941
Current Liabilities	-4.6%	108	113	139	168	144
Shareholder's Equity	-35.9%	102	159	386	2,844	2,978
Retained Earnings	-2.1%	-4,829	-4,729	-4,428	-1,904	-1,722
Additional Paid-In Capital	0.9%	4,931	4,889	4,815	4,749	4,701
Accumulated Depreciation	25.5%	75.00	60.00	54.00	48.00	-
Shares Outstanding	3.2%	246	238	232	228	228

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	16.0%	-492	-586	-623	-617	-559
Share Based Compensation	-6.3%	199	213	178	168	180
Cashflow From Investing	-38.5%	-174	-126	-190	-379	-204
Cashflow From Financing	-78.5%	2.00	8.00	9.00	1,129	1,566

Risks for NVTA

What is the probability of a big loss on NVTA?

100%

Probability that Invitae stock will be more than 20% underwater in next one year

100%

Probability that Invitae stock will be more than 30% underwater in next one year.

86.5%

Probability that Invitae stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does NVTA drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Invitae was unfortunately bought at previous high price.

Drawdowns

Returns for NVTA

Cumulative Returns on NVTA

-24.1%

7-Year Cumulative Returns

-28.7%

5-Year Cumulative Returns

-52.6%

3-Year Cumulative Returns

What are the long-term rolling returns for NVTA?

FIve years rolling returns for Invitae.

Annualized Returns

Which funds bought or sold NVTA recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-68.58	-156,329	48,671	-%
2023-03-10	BAILLIE GIFFORD & CO	unchanged	-	-512	1,488	-%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-96.14	-3,000	-	-%
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	unchanged	-	93.00	93.00	-%
2023-02-28	Voya Investment Management LLC	added	5.89	-44,317	179,683	-%
2023-02-21	MACQUARIE GROUP LTD	sold off	-100	-9,000	-	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	added	188	134	134	-%
2023-02-16	AXXCESS WEALTH MANAGEMENT, LLC	reduced	-28.71	-53,929	63,071	-%
2023-02-16	HARBOUR INVESTMENTS, INC.	unchanged	-	372	372	-%
2023-02-15	Seaport Global Advisors, LLC	reduced	-41.39	-42,893	34,107	0.12%

Latest Funds Activity

Are funds buying NVTA calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own NVTA

No. of Funds

Invitae News

Schedule 13G FIlings of Invitae

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	casdin capital, llc	3.72%	9,038,388	SC 13G/A
Feb 09, 2023	vanguard group inc	9.30%	22,587,955	SC 13G/A
Feb 03, 2023	sumitomo mitsui trust holdings, inc.	7.10%	17,256,161	SC 13G/A
Jan 25, 2023	blackrock inc.	9.0%	21,768,046	SC 13G
Feb 14, 2022	baker bros. advisors lp	4.4%	9,873,488	SC 13G/A
Feb 14, 2022	nikko asset management americas, inc.	8.39%	18,998,453	SC 13G/A
Feb 14, 2022	casdin capital, llc	5.39%	12,203,669	SC 13G/A
Feb 09, 2022	ark investment management llc	11.80%	26,700,813	SC 13G/A
Feb 04, 2022	sumitomo mitsui trust holdings, inc.	8.39%	18,998,453	SC 13G/A
Feb 03, 2022	blackrock inc.	7.7%	17,484,785	SC 13G/A

NVTA Fair Value

Invitae fair value in different scenarios

The table shows the Fair Value estimates for Invitae for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	- -	0.23 -82.17%	1.23 -4.65%	3.09 139.53%	6.84 430.23%
Current Inflation	0.02 -98.45%	0.17 -86.82%	1.05 -18.60%	2.65 105.43%	5.86 354.26%
Very High Inflation	- -	0.10 -92.25%	0.83 -35.66%	2.14 65.89%	4.73 266.67%

Historical Invitae Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Invitae

View All Filings

Date Filed	Form Type	Document
Mar 17, 2023	S-3	S-3
Mar 15, 2023	4	Insider Trading
Mar 15, 2023	4	Insider Trading
Mar 15, 2023	4	Insider Trading
Mar 15, 2023	4	Insider Trading
Mar 14, 2023	8-K	Current Report
Mar 08, 2023	8-K	Current Report
Mar 01, 2023	8-K	Current Report
Mar 01, 2023	POS AM	POS AM
Mar 01, 2023	POS AM	POS AM

Latest Insider Trading transactions for NVTA

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-13	Nussbaum Robert L	sold	-3,701	1.41	-2,625	chief medical officer
2023-03-13	Wen Yafei	sold	-3,701	1.41	-2,625	chief financial officer
2023-03-13	Knight Kenneth D.	sold	-2,612	1.41	-1,853	chief executive officer
2023-03-13	Brida Thomas	sold	-3,701	1.41	-2,625	see remarks
2023-01-26	Osborne William H	acquired	-	-	70,423	-
2022-12-19	George Sean E	sold	-23,210	2.0792	-11,163	-
2022-12-16	George Sean E	sold	-91,420	2.0399	-44,816	-
2022-08-25	WERNER ROBERT F.	sold	-4,657	3.45	-1,350	chief accounting officer
2022-08-22	Nussbaum Robert L	acquired	-	-	54,000	chief medical officer
2022-08-22	Wen Yafei	acquired	-	-	102,000	chief financial officer

About Invitae

Sean E. George

www.invitae.com

3000

Invitae Corporation, a medical genetics company, integrates genetic information into mainstream medicine to improve healthcare of people in the United States, Canada, and internationally. The company offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, oncology, metabolic conditions, and rare diseases; digital health solutions; and health data services. It serves patients, healthcare providers, biopharma companies, and other partners. The company was formerly known as Locus Development, Inc. and changed its name to Invitae Corporation in 2012. Invitae Corporation was incorporated in 2010 and is headquartered in San Francisco, California.

NVTA Income Statement

2022-12-31

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue:
Total revenue	$ 516,303	$ 460,449	$ 279,598
Operating expenses:
Cost of revenue	417,256	348,669	198,275
Research and development	402,088	416,087	240,605
Selling and marketing	218,881	225,910	168,317
General and administrative	192,314	248,070	270,029
Goodwill and IPR&D impairment	2,313,047	0	0
Restructuring and other costs	140,331	0	0
Gain on sale of RUO kit assets	(47,354)	0	0
Change in fair value of contingent consideration	(1,850)	(386,646)	54,544
Total operating expenses	3,634,713	852,090	931,770
Loss from operations	(3,118,410)	(391,641)	(652,172)
Other income (expense), net:
Change in fair value of acquisition-related liabilities	15,906	25,196	(37,527)
Other income, net	8,054	482	5,195
Total other income (expense), net	23,960	25,678	(32,332)
Interest expense	(56,747)	(49,900)	(29,766)
Net loss before taxes	(3,151,197)	(415,863)	(714,270)
Income tax benefit	44,904	36,857	112,100
Net loss	$ (3,106,293)	$ (379,006)	$ (602,170)
Net loss per share, basic (in dollars per share)	$ (13.18)	$ (1.80)	$ (4.47)
Net loss per share, diluted (in dollars per share)	$ (13.18)	$ (1.80)	$ (4.47)
Shares used in computing net loss per share, basic (in shares)	235,676,000	210,946,000	134,587,000
Shares used in computing net loss per share, diluted (in shares)	235,676,000	210,946,000	134,587,000
Test revenue
Revenue:
Total revenue	$ 500,560	$ 444,072	$ 272,310
Data/services
Revenue:
Total revenue	$ 15,743	$ 16,377	$ 7,288

NVTA Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 257,489	$ 923,250
Marketable securities	289,611	122,121
Accounts receivable	96,148	66,227
Inventory	30,386	33,516
Prepaid expenses and other current assets	19,496	33,691
Total current assets	693,130	1,178,805
Property and equipment, net	108,723	114,714
Operating lease assets	106,563	121,169
Restricted cash	10,030	10,275
Intangible assets, net	1,012,549	1,187,994
Goodwill	0	2,283,059
Other assets	23,121	23,551
Total assets	1,954,116	4,919,567
Current liabilities:
Accounts payable	13,984	21,127
Accrued liabilities	74,388	106,453
Operating lease obligations	14,600	12,359
Finance lease obligations	5,121	4,156
Total current liabilities	108,093	144,095
Operating lease obligations, net of current portion	134,386	124,369
Finance lease obligations, net of current portion	3,780	5,683
Debt	122,333	113,391
Convertible senior notes, net	1,470,783	1,464,138
Deferred tax liability	8,130	51,696
Other long-term liabilities	4,775	37,797
Total liabilities	1,852,280	1,941,169
Commitments and contingencies (Note 8)
Preferred stock, $0.0001 par value: 20,000 shares authorized; nil shares issued and outstanding as of December 31, 2022 and 2021, respectively	0	0
Stockholders’ equity:
Common stock, $0.0001 par value: 600,000 and 400,000 shares authorized; 245,562 and 228,116 shares issued and outstanding as of December 31, 2022 and 2021, respectively	25	23
Accumulated other comprehensive loss	(80)	(7)
Additional paid-in capital	4,931,032	4,701,230
Accumulated deficit	(4,829,141)	(1,722,848)
Total stockholders’ equity	101,836	2,978,398
Total liabilities and stockholders’ equity	$ 1,954,116	$ 4,919,567