Algert Global LLC purchased a new position in shares of InVitae Corp (NYSE:NVTA) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 83,261 shares of the medical research company’s stock, valued at approximately $1,393,000. Algert Global LLC owned approximately 0.11% of InVitae at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of NVTA. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of InVitae during the third quarter worth about $68,841,000. BlackRock Inc. grew its holdings in shares of InVitae by 76.7% during the second quarter. BlackRock Inc. now owns 4,816,353 shares of the medical research company’s stock worth $35,400,000 after buying an additional 2,090,818 shares in the last quarter. ARK Investment Management LLC grew its holdings in shares of InVitae by 27.2% during the second quarter. ARK Investment Management LLC now owns 8,814,227 shares of the medical research company’s stock worth $64,785,000 after buying an additional 1,886,952 shares in the last quarter. Millennium Management LLC grew its holdings in shares of InVitae by 694.6% during the second quarter. Millennium Management LLC now owns 536,056 shares of the medical research company’s stock worth $3,940,000 after buying an additional 468,596 shares in the last quarter. Finally, Private Wealth Partners LLC purchased a new stake in shares of InVitae during the second quarter worth about $2,414,000. Institutional investors and hedge funds own 75.09% of the company’s stock.
A number of research firms recently issued reports on NVTA. Benchmark began coverage on shares of InVitae in a report on Tuesday, November 20th. They issued a “buy” rating and a $17.00 target price for the company. William Blair restated a “market perform” rating on shares of InVitae in a report on Thursday, November 8th. JPMorgan Chase & Co. boosted their target price on shares of InVitae to $16.00 and gave the company an “overweight” rating in a report on Thursday, November 8th. ValuEngine upgraded shares of InVitae from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 29th. Finally, Zacks Investment Research upgraded shares of InVitae from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Tuesday, August 14th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. InVitae currently has an average rating of “Buy” and an average price target of $13.80.
InVitae stock opened at $12.35 on Friday. InVitae Corp has a 1 year low of $4.35 and a 1 year high of $18.38. The company has a market capitalization of $986.44 million, a P/E ratio of -4.66 and a beta of 1.82. The company has a quick ratio of 3.90, a current ratio of 3.90 and a debt-to-equity ratio of 0.29.
InVitae (NYSE:NVTA) last released its earnings results on Wednesday, November 7th. The medical research company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.02. InVitae had a negative net margin of 109.60% and a negative return on equity of 103.37%. The firm had revenue of $37.37 million during the quarter, compared to the consensus estimate of $34.80 million. During the same period in the previous year, the firm earned ($0.57) earnings per share. InVitae’s revenue was up 105.9% compared to the same quarter last year. On average, research analysts predict that InVitae Corp will post -1.98 earnings per share for the current year.
In other InVitae news, insider Patty Dumond sold 2,000 shares of InVitae stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $12.90, for a total transaction of $25,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eric Aguiar sold 10,000 shares of InVitae stock in a transaction that occurred on Tuesday, November 27th. The shares were sold at an average price of $13.50, for a total transaction of $135,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,530 shares of company stock valued at $184,432. 8.70% of the stock is owned by insiders.
Invitae Corporation, a genetic information company, processes DNA-containing samples, analyzes information related to patient-specific genetic variation, and generates test reports for clinicians and their patients in the United States, Canada, and internationally. The company's tests include multiple genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; proactive health and wellness screening; and preimplantation embryo testing and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.
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