Bank of New York Mellon Corp increased its holdings in shares of InVitae Corp (NYSE:NVTA) by 12.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 293,466 shares of the medical research company’s stock after acquiring an additional 33,439 shares during the quarter. Bank of New York Mellon Corp owned about 0.43% of InVitae worth $4,910,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. ARK Investment Management LLC boosted its position in InVitae by 4.0% during the third quarter. ARK Investment Management LLC now owns 9,170,156 shares of the medical research company’s stock worth $153,417,000 after acquiring an additional 355,929 shares during the last quarter. BlackRock Inc. raised its stake in 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 purchasing an additional 2,090,818 shares during the period. Gilder Gagnon Howe & Co. LLC purchased a new position in InVitae during the third quarter worth about $68,841,000. Northern Trust Corp raised its stake in InVitae by 57.7% during the second quarter. Northern Trust Corp now owns 737,440 shares of the medical research company’s stock worth $5,420,000 after purchasing an additional 269,798 shares during the period. Finally, Millennium Management LLC raised its stake in 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 purchasing an additional 468,596 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.
A number of brokerages have commented on NVTA. William Blair reaffirmed a “market perform” rating on shares of InVitae in a research note on Thursday, November 8th. Zacks Investment Research downgraded shares of InVitae from a “buy” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of InVitae to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, November 8th. Benchmark began coverage on shares of InVitae in a research note on Tuesday, November 20th. They set a “buy” rating and a $17.00 target price on the stock. Finally, CIBC began coverage on shares of InVitae in a research note on Wednesday, December 19th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $17.00.
In other news, CFO Shelly D. Guyer sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 16th. The shares were sold at an average price of $14.49, for a total value of $57,960.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Patty Dumond sold 2,000 shares of the business’s 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 disclosure for this sale can be found here. Insiders have sold 23,222 shares of company stock worth $316,950 over the last ninety days. 8.70% of the stock is owned by insiders.
Shares of NVTA stock opened at $15.65 on Thursday. The company has a current ratio of 3.90, a quick ratio of 3.90 and a debt-to-equity ratio of 0.29. InVitae Corp has a 12 month low of $4.35 and a 12 month high of $18.38. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -5.91 and a beta of 2.07.
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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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