Raymond James Financial Services Advisors Inc. increased its stake in shares of InVitae Corp (NYSE:NVTA) by 71.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,615 shares of the medical research company’s stock after purchasing an additional 13,219 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in InVitae were worth $958,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC lifted its holdings in shares of InVitae by 2,981.3% during the second quarter. Parallel Advisors LLC now owns 1,479 shares of the medical research company’s stock worth $44,000 after purchasing an additional 1,431 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in InVitae in the second quarter valued at $61,000. Benjamin Edwards Inc. lifted its holdings in InVitae by 46.7% in the first quarter. Benjamin Edwards Inc. now owns 2,217 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 706 shares during the period. CWM LLC acquired a new stake in InVitae in the first quarter valued at $40,000. Finally, Pathstone Family Office LLC lifted its holdings in InVitae by 66.7% in the first quarter. Pathstone Family Office LLC now owns 5,500 shares of the medical research company’s stock valued at $75,000 after acquiring an additional 2,200 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.
NYSE:NVTA opened at $29.20 on Friday. The company has a market capitalization of $3.65 billion, a PE ratio of -9.18 and a beta of 2.19. The stock has a fifty day simple moving average of $28.03 and a 200-day simple moving average of $20.04. InVitae Corp has a 52-week low of $7.41 and a 52-week high of $35.33. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.97.
A number of equities research analysts have commented on the company. Oppenheimer assumed coverage on InVitae in a report on Tuesday, July 21st. They issued a “buy” rating and a $37.00 target price for the company. Benchmark downgraded InVitae from a “buy” rating to a “hold” rating in a report on Wednesday, July 1st. SVB Leerink lifted their price target on InVitae from $25.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Cowen lifted their price target on InVitae from $18.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, June 26th. Finally, ValuEngine downgraded InVitae from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $29.67.
In other InVitae news, COO E Lee Bendekgey sold 27,500 shares of InVitae stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $34.16, for a total value of $939,400.00. Following the completion of the sale, the chief operating officer now owns 245,811 shares in the company, valued at approximately $8,396,903.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert L. Nussbaum sold 29,783 shares of InVitae stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $34.15, for a total value of $1,017,089.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 169,863 shares of company stock valued at $4,261,151. 2.90% of the stock is currently owned by company insiders.
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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