BNP Paribas Arbitrage SA Buys 14,752 Shares of InVitae Corp (NVTA)

BNP Paribas Arbitrage SA grew its stake in shares of InVitae Corp (NYSE:NVTA) by 86,776.5% during the first quarter, HoldingsChannel reports. The firm owned 14,769 shares of the medical research company’s stock after buying an additional 14,752 shares during the period. BNP Paribas Arbitrage SA’s holdings in InVitae were worth $346,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Great West Life Assurance Co. Can lifted its stake in shares of InVitae by 173.1% in the fourth quarter. Great West Life Assurance Co. Can now owns 7,920 shares of the medical research company’s stock worth $84,000 after acquiring an additional 5,020 shares in the last quarter. Morgan Stanley lifted its stake in shares of InVitae by 8.5% in the third quarter. Morgan Stanley now owns 152,712 shares of the medical research company’s stock worth $2,555,000 after acquiring an additional 11,957 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of InVitae by 183.3% in the fourth quarter. Meeder Asset Management Inc. now owns 15,640 shares of the medical research company’s stock worth $174,000 after acquiring an additional 10,119 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of InVitae by 11.3% in 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 in the last quarter. Finally, Boston Advisors LLC lifted its stake in shares of InVitae by 11.7% in the fourth quarter. Boston Advisors LLC now owns 54,375 shares of the medical research company’s stock worth $601,000 after acquiring an additional 5,700 shares in the last quarter. Institutional investors own 67.56% of the company’s stock.

NYSE:NVTA opened at $18.05 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 7.73 and a current ratio of 7.73. InVitae Corp has a one year low of $6.57 and a one year high of $26.77. The stock has a market capitalization of $1.62 billion, a P/E ratio of -9.30 and a beta of 2.20.

InVitae (NYSE:NVTA) last announced its quarterly earnings data on Tuesday, May 7th. The medical research company reported ($0.47) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($0.01). The firm had revenue of $40.55 million during the quarter, compared to the consensus estimate of $47.17 million. InVitae had a negative net margin of 81.52% and a negative return on equity of 65.76%. The firm’s quarterly revenue was up 46.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.66) earnings per share. As a group, equities research analysts predict that InVitae Corp will post -1.97 earnings per share for the current year.

Several research firms recently commented on NVTA. Zacks Investment Research cut InVitae from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Oppenheimer boosted their price target on InVitae from $21.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Chardan Capital began coverage on InVitae in a research note on Monday, March 4th. They issued a “buy” rating and a $29.00 price target on the stock. Benchmark boosted their price target on InVitae from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Finally, 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. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. InVitae has an average rating of “Buy” and an average price target of $25.00.

In related news, insider Katherine Stueland sold 1,000 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $25.23, for a total value of $25,230.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Shelly D. Guyer sold 4,000 shares of the business’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $20.00, for a total value of $80,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,307 shares of company stock valued at $918,381. 8.70% of the stock is owned by corporate insiders.

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InVitae Company 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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