In this article, we discuss the 5 good stocks to buy right now. If you want to read our detailed analysis of these stocks, go directly to the 10 Good Stocks to Buy Right Now.
5. Invitae Corporation (NYSE: NVTA)
Number of Hedge Fund Holders: 31
Invitae Corporation (NYSE: NVTA) is a San Francisco-based medical genetics firm that ranks 5th on the list of 15 good stocks to buy right now. The company conducts DNA testing to diagnose diseases such as heart disease, hereditary cancer, and metabolic disorders.
The stock has gained 9.2% in post-market trading on August 6 amid claims that Wisconsin-based cancer diagnostic test developer Exact Sciences (NASDAQ: EXAS) has addressed the genetics company for a possible merger, as reported by Bloomberg.
On August 4, Benchmark analyst Bruce Jackson upgraded Invitae Corporation (NYSE: NVTA) from Hold to Buy, with a price target of $35 per share. Meanwhile, Cathie Wood, fund manager at ARK Investment Management, recently increased her stake in Invitae Corporation (NYSE: NVTA) through the ARKK Innovation ETF, which acquired approximately 448,700 shares, bringing its stake in the ETF to approximately 5.1%. Shares of Invitae Corporation (NYSE: NVTA) surged 13% in the last five days.
The company has a market cap of $6.05 billion. In the second quarter of 2021, Invitae Corporation (NYSE: NVTA) reported an EPS of -$0.64, beating estimates by $0.06. The company’s revenue in the second quarter grew 152% year over year to $116.3 million and beat revenue estimates by $6.57 million.