Cubist Systematic Strategies LLC Grows Holdings in InVitae Corp (NYSE:NVTA)

Cubist Systematic Strategies LLC lifted its holdings in InVitae Corp (NYSE:NVTA) by 1,369.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 263,059 shares of the medical research company’s stock after acquiring an additional 245,159 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in InVitae were worth $4,243,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in NVTA. Clear Harbor Asset Management LLC purchased a new stake in shares of InVitae in the 4th quarter worth about $27,000. Citizens Financial Group Inc RI purchased a new stake in InVitae during the 4th quarter valued at about $27,000. Exchange Traded Concepts LLC purchased a new stake in InVitae during the 4th quarter valued at about $66,000. Valeo Financial Advisors LLC grew its position in InVitae by 1,110.8% during the 4th quarter. Valeo Financial Advisors LLC now owns 4,492 shares of the medical research company’s stock valued at $72,000 after purchasing an additional 4,121 shares during the last quarter. Finally, US Bancorp DE grew its position in InVitae by 108.3% during the 4th quarter. US Bancorp DE now owns 4,786 shares of the medical research company’s stock valued at $77,000 after purchasing an additional 2,488 shares during the last quarter. 99.86% of the stock is currently owned by hedge funds and other institutional investors.

In other news, General Counsel Thomas Brida sold 9,226 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $11.79, for a total value of $108,774.54. Following the transaction, the general counsel now owns 175,094 shares in the company, valued at approximately $2,064,358.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO E Lee Bendekgey sold 119,789 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $20.76, for a total transaction of $2,486,819.64. Following the completion of the transaction, the chief operating officer now owns 148,656 shares in the company, valued at approximately $3,086,098.56. The disclosure for this sale can be found here. Insiders have sold a total of 165,410 shares of company stock worth $3,039,541 in the last 90 days. Company insiders own 5.70% of the company’s stock.

NVTA opened at $14.64 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 5.40 and a current ratio of 5.40. The stock has a market capitalization of $1.20 billion, a P/E ratio of -5.59 and a beta of 2.07. The company’s 50-day simple moving average is $19.15 and its two-hundred day simple moving average is $18.52. InVitae Corp has a 52-week low of $7.41 and a 52-week high of $28.75.

InVitae (NYSE:NVTA) last posted its earnings results on Wednesday, February 19th. The medical research company reported ($0.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by ($0.03). The company had revenue of $66.30 million for the quarter, compared to the consensus estimate of $66.62 million. InVitae had a negative net margin of 111.60% and a negative return on equity of 58.73%. InVitae’s revenue was up 46.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.40) EPS. Research analysts forecast that InVitae Corp will post -2.99 EPS for the current fiscal year.

NVTA has been the topic of several recent analyst reports. ValuEngine raised shares of InVitae from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 9th. Cowen increased their price objective on shares of InVitae from $20.00 to $30.00 and gave the company an “in-line” rating in a research report on Thursday, February 20th. Finally, Zacks Investment Research downgraded shares of InVitae from a “buy” rating to a “hold” rating in a research report on Friday, March 20th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $28.17.

InVitae Profile

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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Institutional Ownership by Quarter for InVitae (NYSE:NVTA)

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