Bard Associates Inc. Reduces Holdings in InVitae Corp (NVTA)

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Bard Associates Inc. lessened its stake in InVitae Corp (NYSE:NVTA) by 8.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 63,988 shares of the medical research company’s stock after selling 6,060 shares during the quarter. Bard Associates Inc. owned 0.09% of InVitae worth $470,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in InVitae in the 2nd quarter valued at approximately $155,000. Swiss National Bank increased its stake in InVitae by 31.6% in the 1st quarter. Swiss National Bank now owns 83,200 shares of the medical research company’s stock valued at $390,000 after buying an additional 20,000 shares during the period. Adviser Investments LLC acquired a new position in InVitae in the 2nd quarter valued at approximately $426,000. Rock Springs Capital Management LP increased its stake in InVitae by 7.2% in the 1st quarter. Rock Springs Capital Management LP now owns 1,400,000 shares of the medical research company’s stock valued at $6,566,000 after buying an additional 94,000 shares during the period. Finally, Spark Investment Management LLC acquired a new position in InVitae in the 1st quarter valued at approximately $112,000. Hedge funds and other institutional investors own 73.65% of the company’s stock.

NVTA stock opened at $15.58 on Friday. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $946.65 million, a price-to-earnings ratio of -5.88 and a beta of 1.80. InVitae Corp has a 12 month low of $4.35 and a 12 month high of $15.71.

InVitae (NYSE:NVTA) last posted its earnings results on Tuesday, August 7th. The medical research company reported ($0.47) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $0.07. The company had revenue of $37.31 million during the quarter, compared to the consensus estimate of $30.70 million. InVitae had a negative net margin of 125.03% and a negative return on equity of 111.27%. equities research analysts predict that InVitae Corp will post -2.02 EPS for the current fiscal year.

NVTA has been the topic of several research reports. ValuEngine upgraded shares of InVitae from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 24th. Zacks Investment Research upgraded shares of InVitae from a “hold” rating to a “strong-buy” rating and set a $10.00 price objective on the stock in a research note on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $11.00.

About InVitae

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. The company's tests include multiple genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; proactive health and wellness screening; and preimplantation embryo testing and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.

See Also: Outstanding Shares

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Institutional Ownership by Quarter for InVitae (NYSE:NVTA)

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