Trexquant Investment LP bought a new stake in InVitae Corp (NYSE:NVTA) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 24,161 shares of the medical research company’s stock, valued at approximately $404,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in NVTA. BlackRock Inc. increased its holdings in InVitae by 4.4% in the third quarter. BlackRock Inc. now owns 5,030,486 shares of the medical research company’s stock worth $84,161,000 after buying an additional 214,133 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in InVitae by 12.9% in the third quarter. Bank of New York Mellon Corp now owns 293,466 shares of the medical research company’s stock worth $4,910,000 after buying an additional 33,439 shares during the last quarter. EAM Global Investors LLC acquired a new position in InVitae in the third quarter worth approximately $2,321,000. EAM Investors LLC acquired a new position in InVitae in the third quarter worth approximately $1,839,000. Finally, Alliancebernstein L.P. increased its holdings in InVitae by 41.6% in the third quarter. Alliancebernstein L.P. now owns 70,400 shares of the medical research company’s stock worth $1,178,000 after buying an additional 20,700 shares during the last quarter. Hedge funds and other institutional investors own 75.09% of the company’s stock.
A number of equities analysts recently commented on NVTA shares. ValuEngine upgraded InVitae from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 29th. Benchmark started coverage on InVitae in a report on Tuesday, November 20th. They issued a “buy” rating and a $17.00 price objective on the stock. Zacks Investment Research upgraded InVitae from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Tuesday, August 14th. JPMorgan Chase & Co. increased their price objective on InVitae to $16.00 and gave the stock an “overweight” rating in a report on Thursday, November 8th. Finally, William Blair restated a “market perform” rating on shares of InVitae in a report on Thursday, November 8th. One 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. The stock currently has an average rating of “Buy” and an average target price of $13.80.
Shares of NVTA stock opened at $13.35 on Friday. InVitae Corp has a 12 month low of $4.35 and a 12 month high of $18.38. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.90 and a current ratio of 3.90. The company has a market cap of $986.44 million, a price-to-earnings ratio of -5.04 and a beta of 1.82.
InVitae (NYSE:NVTA) last announced its quarterly earnings results on Wednesday, November 7th. The medical research company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.02. InVitae had a negative return on equity of 103.37% and a negative net margin of 109.60%. The company had revenue of $37.37 million for the quarter, compared to the consensus estimate of $34.80 million. During the same quarter last year, the company posted ($0.57) earnings per share. The company’s revenue for the quarter was up 105.9% compared to the same quarter last year. On average, sell-side analysts anticipate that InVitae Corp will post -1.98 earnings per share for the current fiscal year.
In other InVitae news, Director Eric Aguiar sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $13.50, for a total transaction of $135,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Patty Dumond sold 2,000 shares of the stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $12.90, for a total value of $25,800.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,530 shares of company stock worth $184,432. Corporate insiders own 8.70% of the company’s stock.
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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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