Indie Asset Partners LLC Makes New Investment in Invitae Co. (NYSE:NVTA)


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Indie Asset Partners LLC bought a new position in shares of Invitae Co. (NYSE:NVTA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,875 shares of the medical research company’s stock, valued at approximately $371,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Sonora Investment Management LLC acquired a new position in shares of Invitae in the 4th quarter valued at $29,000. Atlas Private Wealth Advisors purchased a new stake in Invitae during the 3rd quarter worth approximately $43,000. Perigon Wealth Management LLC purchased a new stake in Invitae during the 4th quarter worth approximately $59,000. Lee Financial Co acquired a new position in shares of Invitae during the 3rd quarter worth approximately $68,000. Finally, Winslow Evans & Crocker Inc. boosted its holdings in shares of Invitae by 223.9% during the 4th quarter. Winslow Evans & Crocker Inc. now owns 2,170 shares of the medical research company’s stock worth $91,000 after purchasing an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 78.60% of the company’s stock.

In other Invitae news, CEO Sean E. George sold 8,675 shares of the company’s stock in a transaction on Thursday, January 21st. The stock was sold at an average price of $53.80, for a total transaction of $466,715.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Katherine Stueland sold 34,300 shares of the company’s stock in a transaction on Monday, December 14th. The stock was sold at an average price of $58.43, for a total value of $2,004,149.00. The disclosure for this sale can be found here. Insiders have sold 677,539 shares of company stock worth $33,662,470 over the last 90 days. 2.90% of the stock is owned by insiders.

NVTA traded down $3.45 during trading hours on Tuesday, reaching $41.36. The company’s stock had a trading volume of 259,374 shares, compared to its average volume of 4,108,689. Invitae Co. has a fifty-two week low of $7.41 and a fifty-two week high of $61.59. The stock has a market cap of $7.31 billion, a PE ratio of -10.31 and a beta of 2.11. The business’s 50-day moving average is $50.76 and its 200-day moving average is $44.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.09 and a quick ratio of 4.09.

Invitae (NYSE:NVTA) last released its quarterly earnings results on Tuesday, February 16th. The medical research company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.08). Invitae had a negative return on equity of 81.19% and a negative net margin of 183.50%. The firm had revenue of $100.43 million for the quarter, compared to analyst estimates of $97.87 million. Analysts expect that Invitae Co. will post -2.69 EPS for the current year.

NVTA has been the topic of several recent research reports. Morgan Stanley boosted their target price on Invitae from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Friday, November 6th. SVB Leerink boosted their target price on Invitae from $64.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, February 18th. Zacks Investment Research cut Invitae from a “hold” rating to a “sell” rating in a report on Tuesday. LADENBURG THALM/SH SH upgraded Invitae from a “neutral” rating to a “buy” rating and upped their price objective for the company from $46.50 to $58.00 in a report on Thursday, February 18th. Finally, Oppenheimer cut Invitae from an “outperform” rating to a “market perform” rating in a report on Monday, February 1st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $45.38.

Invitae Company Profile

Invitae Corporation, a medical genetics 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. It offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, metabolic conditions, and rare diseases; prenatal and perinatal genetic tests; and non-invasive prenatal screening products.

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Institutional Ownership by Quarter for Invitae (NYSE:NVTA)

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