InVitae Corp (NVTA) CEO Sells $442,175.22 in Stock

InVitae Corp (NYSE:NVTA) CEO Sean E. George sold 24,282 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $18.21, for a total value of $442,175.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

NYSE NVTA traded down $0.34 during mid-day trading on Thursday, reaching $17.68. 29,836 shares of the company’s stock traded hands, compared to its average volume of 1,937,353. InVitae Corp has a 1-year low of $7.08 and a 1-year high of $26.77. The company has a quick ratio of 7.73, a current ratio of 7.73 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1.62 billion, a PE ratio of -9.13 and a beta of 2.20.

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 analysts’ consensus estimates of ($0.46) by ($0.01). InVitae had a negative net margin of 81.52% and a negative return on equity of 65.76%. The business had revenue of $40.55 million for the quarter, compared to analyst estimates of $47.17 million. During the same quarter last year, the business earned ($0.66) EPS. InVitae’s revenue for the quarter was up 46.5% compared to the same quarter last year. On average, analysts anticipate that InVitae Corp will post -1.98 earnings per share for the current year.

A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered InVitae from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Oppenheimer raised their price objective on InVitae from $21.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Chardan Capital assumed coverage on InVitae in a research note on Monday, March 4th. They set a “buy” rating and a $29.00 price objective for the company. Benchmark raised their price objective on InVitae from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, February 20th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 price objective on shares of InVitae in a research note on Wednesday, February 20th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $25.00.

Hedge funds and other institutional investors have recently modified their holdings of the business. Redmile Group LLC grew its position in shares of InVitae by 161.6% in the 1st 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 in the last quarter. Gilder Gagnon Howe & Co. LLC grew its position in shares of InVitae by 11.5% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 5,530,037 shares of the medical research company’s stock worth $129,513,000 after acquiring an additional 572,234 shares in the last quarter. Perceptive Advisors LLC grew its position in shares of InVitae by 16.6% in the 1st quarter. Perceptive Advisors LLC now owns 2,171,918 shares of the medical research company’s stock worth $50,866,000 after acquiring an additional 308,512 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of InVitae in the 1st quarter worth approximately $1,313,000. Finally, Opaleye Management Inc. acquired a new position in shares of InVitae in the 1st quarter worth approximately $10,305,000. Hedge funds and other institutional investors own 72.56% of the company’s stock.

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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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Insider Buying and Selling by Quarter for InVitae (NYSE:NVTA)

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