BlackRock Inc. raised its holdings in shares of InVitae Corp (NYSE:NVTA) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,351,727 shares of the medical research company’s stock after acquiring an additional 321,241 shares during the period. BlackRock Inc. owned approximately 7.17% of InVitae worth $59,191,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Teachers Advisors LLC raised its position in InVitae by 497.7% during the third quarter. Teachers Advisors LLC now owns 622,681 shares of the medical research company’s stock worth $10,417,000 after acquiring an additional 518,499 shares during the period. Vanguard Group Inc raised its position in InVitae by 11.3% during the third quarter. Vanguard Group Inc now owns 2,885,650 shares of the medical research company’s stock worth $48,278,000 after acquiring an additional 292,125 shares during the period. Vanguard Group Inc. raised its position in InVitae by 11.3% during the third quarter. Vanguard Group Inc. now owns 2,885,650 shares of the medical research company’s stock worth $48,278,000 after acquiring an additional 292,125 shares during the period. Allianz Asset Management GmbH acquired a new position in InVitae during the third quarter worth $4,478,000. Finally, Great Lakes Advisors LLC acquired a new position in InVitae during the third quarter worth $4,144,000. Hedge funds and other institutional investors own 75.73% of the company’s stock.
A number of equities research analysts have recently issued reports on NVTA shares. Zacks Investment Research lowered shares of InVitae from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $20.00 target price on shares of InVitae in a report on Wednesday, February 20th. They noted that the move was a valuation call. Chardan Capital started coverage on shares of InVitae in a report on Monday, March 4th. They set a “buy” rating and a $29.00 target price for the company. Finally, Oppenheimer upped their target price on shares of InVitae from $21.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $25.00.
Shares of NVTA traded up $0.67 during mid-day trading on Friday, reaching $23.84. The stock had a trading volume of 1,231,103 shares, compared to its average volume of 1,739,342. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $1.78 billion, a P/E ratio of -12.29 and a beta of 2.25. InVitae Corp has a 52-week low of $5.31 and a 52-week high of $26.77.
InVitae (NYSE:NVTA) last announced its earnings results on Tuesday, February 19th. The medical research company reported ($0.40) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.02. The company had revenue of $45.36 million during the quarter, compared to analyst estimates of $40.87 million. InVitae had a negative net margin of 87.58% and a negative return on equity of 88.93%. Equities research analysts predict that InVitae Corp will post -1.81 earnings per share for the current fiscal year.
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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