InVitae Corp (NYSE:NVTA) Shares Purchased by Profit Investment Management LLC

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Profit Investment Management LLC increased its position in shares of InVitae Corp (NYSE:NVTA) by 36.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,868 shares of the medical research company’s stock after purchasing an additional 45,472 shares during the period. InVitae accounts for approximately 2.4% of Profit Investment Management LLC’s portfolio, making the stock its 10th largest position. Profit Investment Management LLC owned 0.18% of InVitae worth $3,293,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. ARK Investment Management LLC boosted its stake in InVitae by 7.9% in the second quarter. ARK Investment Management LLC now owns 9,423,157 shares of the medical research company’s stock valued at $221,444,000 after acquiring an additional 693,634 shares in the last quarter. BlackRock Inc. boosted its stake in InVitae by 19.3% in the second quarter. BlackRock Inc. now owns 6,397,193 shares of the medical research company’s stock valued at $150,335,000 after acquiring an additional 1,037,130 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its stake in InVitae by 378.1% in the second quarter. Nikko Asset Management Americas Inc. now owns 5,332,788 shares of the medical research company’s stock valued at $125,321,000 after acquiring an additional 4,217,463 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in InVitae by 385.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,317,840 shares of the medical research company’s stock valued at $124,969,000 after acquiring an additional 4,222,987 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in InVitae by 7.0% in the second quarter. Vanguard Group Inc. now owns 4,535,678 shares of the medical research company’s stock valued at $106,589,000 after acquiring an additional 297,356 shares in the last quarter. Hedge funds and other institutional investors own 86.98% of the company’s stock.

Several research firms have issued reports on NVTA. Leerink Swann set a $31.00 price objective on shares of InVitae and gave the company a “buy” rating in a research note on Wednesday, August 7th. Benchmark restated a “buy” rating and issued a $28.00 price objective (up previously from $26.00) on shares of InVitae in a research note on Wednesday, August 7th. Oppenheimer set a $34.00 price objective on shares of InVitae and gave the company a “buy” rating in a research note on Wednesday, August 7th. Zacks Investment Research upgraded shares of InVitae from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Wednesday, October 9th. Finally, Chardan Capital set a $32.00 target price on shares of InVitae and gave the stock a “buy” rating in a research note on Sunday, August 25th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $27.83.

In related news, insider Katherine Stueland sold 3,789 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $24.98, for a total transaction of $94,649.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Geoffrey Crouse sold 5,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $25.68, for a total transaction of $128,400.00. Following the transaction, the director now directly owns 29,259 shares of the company’s stock, valued at $751,371.12. The disclosure for this sale can be found here. Insiders have sold 148,757 shares of company stock valued at $3,722,305 in the last quarter. Insiders own 5.70% of the company’s stock.

Shares of NVTA traded down $0.78 during mid-day trading on Friday, hitting $17.48. 127,290 shares of the company’s stock were exchanged, compared to its average volume of 1,774,896. InVitae Corp has a fifty-two week low of $9.04 and a fifty-two week high of $28.75. The firm has a market capitalization of $1.77 billion, a P/E ratio of -9.01 and a beta of 2.51. The business’s 50 day moving average is $20.56 and its two-hundred day moving average is $22.11. The company has a current ratio of 7.18, a quick ratio of 7.18 and a debt-to-equity ratio of 0.36.

InVitae (NYSE:NVTA) last announced its earnings results on Tuesday, August 6th. The medical research company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.06). InVitae had a negative return on equity of 58.48% and a negative net margin of 83.69%. The business had revenue of $53.48 million for the quarter, compared to analyst estimates of $50.17 million. During the same quarter last year, the company posted ($0.47) EPS. InVitae’s quarterly revenue was up 43.3% on a year-over-year basis. On average, equities research analysts forecast that InVitae Corp will post -2.12 earnings per share for the current year.

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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