He may not be to the liking of all, but when Andrew left makes a trade public it moves the stock, that is exactly what happened to NYSE:NVTA in today's trading.
"I am long a lot," Left told TheStreet, adding that he thinks NVTA could hit $100 a share two years from now. He also said it's very possible that the company will be acquired before reaching that level.
Left is better known for his short positions than for going long on stocks, but said he's optimistic about Invitae because of its involvement in genetic testing that goes far beyond consumers simply checking their own DNA make-up using retail companies like 23 and Me.
"Genetic testing is a mega trend," Left said. " started with 'Hey, it's cute with the 23 and Me,' but it goes a lot deeper than that. There's so much more to it."
He believes the total addressable market for genetic testing "is for everyone on Earth." Left added that NVTA also has "a 'big moat,' and they're ahead of everyone else. The more data they acquire, the better the testing becomes. Their product gets better with time." Source TheSTreet
Technically the stock has been in consolidation after a already meteoric rise in 2019, having gapped down on the previous earnings report, it has now regained that level.
Indicators have taken a bullish reversal on today's trading.
Possible entry on break form the current wedge.
AVERAGE ANALYSTS PRICE TARGET $27
AVERAGE ANALYSTS RECOMMENDATION BUY
P/E RATIO
SHORT INTEREST 12%
COMPANY PROFILE
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.
"I am long a lot," Left told TheStreet, adding that he thinks NVTA could hit $100 a share two years from now. He also said it's very possible that the company will be acquired before reaching that level.
Left is better known for his short positions than for going long on stocks, but said he's optimistic about Invitae because of its involvement in genetic testing that goes far beyond consumers simply checking their own DNA make-up using retail companies like 23 and Me.
"Genetic testing is a mega trend," Left said. " started with 'Hey, it's cute with the 23 and Me,' but it goes a lot deeper than that. There's so much more to it."
He believes the total addressable market for genetic testing "is for everyone on Earth." Left added that NVTA also has "a 'big moat,' and they're ahead of everyone else. The more data they acquire, the better the testing becomes. Their product gets better with time." Source TheSTreet
Technically the stock has been in consolidation after a already meteoric rise in 2019, having gapped down on the previous earnings report, it has now regained that level.
Indicators have taken a bullish reversal on today's trading.
Possible entry on break form the current wedge.
AVERAGE ANALYSTS PRICE TARGET $27
AVERAGE ANALYSTS RECOMMENDATION BUY
P/E RATIO
SHORT INTEREST 12%
COMPANY PROFILE
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.