Gilder Gagnon Howe & Co. LLC raised its position in InVitae Corp (NYSE:NVTA) by 11.5% in the first quarter, Holdings Channel reports. The fund owned 5,530,037 shares of the medical research company’s stock after buying an additional 572,234 shares during the period. InVitae makes up approximately 1.4% of Gilder Gagnon Howe & Co. LLC’s portfolio, making the stock its 18th biggest holding. Gilder Gagnon Howe & Co. LLC owned approximately 0.06% of InVitae worth $129,513,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. lifted its stake in InVitae by 6.4% in the fourth quarter. BlackRock Inc. now owns 5,351,727 shares of the medical research company’s stock worth $59,191,000 after acquiring an additional 321,241 shares during the last quarter. Redmile Group LLC lifted its stake in InVitae by 161.6% in the first quarter. Redmile Group LLC now owns 1,374,175 shares of the medical research company’s stock worth $32,183,000 after acquiring an additional 848,800 shares during the last quarter. Victory Capital Management Inc. lifted its stake in InVitae by 1,032.7% in the first quarter. Victory Capital Management Inc. now owns 1,196,935 shares of the medical research company’s stock worth $28,033,000 after acquiring an additional 1,091,260 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its stake in InVitae by 14,483.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 1,115,325 shares of the medical research company’s stock worth $26,121,000 after acquiring an additional 1,107,677 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in InVitae in the first quarter worth approximately $25,641,000. Institutional investors own 78.93% of the company’s stock.
NVTA has been the subject of a number of recent research reports. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $20.00 price target on shares of InVitae in a research note on Wednesday, February 20th. They noted that the move was a valuation call. Benchmark lifted their price target on shares of InVitae from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Oppenheimer boosted their price objective on shares of InVitae from $21.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Chardan Capital assumed coverage on shares of InVitae in a research report on Monday, March 4th. They set a “buy” rating and a $29.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of InVitae from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $25.20.
In other news, General Counsel Thomas Brida sold 2,146 shares of InVitae stock in a transaction on Monday, May 20th. The shares were sold at an average price of $18.21, for a total value of $39,078.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Katherine Stueland sold 1,000 shares of InVitae stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $25.23, for a total transaction of $25,230.00. The disclosure for this sale can be found here. Insiders have sold a total of 90,440 shares of company stock valued at $1,641,082 in the last 90 days. Insiders own 8.70% of the company’s stock.
Shares of NYSE:NVTA opened at $19.23 on Monday. The company has a market cap of $1.73 billion, a PE ratio of -9.91 and a beta of 2.35. The company has a quick ratio of 7.73, a current ratio of 7.73 and a debt-to-equity ratio of 0.37. InVitae Corp has a twelve month low of $7.08 and a twelve month high of $26.77.
InVitae (NYSE:NVTA) last issued its quarterly earnings data on Tuesday, May 7th. The medical research company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.01). The company had revenue of $40.55 million for the quarter, compared to analysts’ expectations of $47.17 million. InVitae had a negative return on equity of 65.76% and a negative net margin of 81.52%. The firm’s quarterly revenue was up 46.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.66) EPS. On average, equities research analysts forecast that InVitae Corp will post -1.91 EPS for the current year.
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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. Its tests include genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; and screening and testing services in reproductive health, including preimplantation and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.
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