Invitae Co. (NYSE:NVTA) Stake Trimmed by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its stake in Invitae Co. (NYSE:NVTA) by 42.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,061 shares of the medical research company’s stock after selling 11,689 shares during the quarter. Russell Investments Group Ltd.’s holdings in Invitae were worth $541,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Evoke Wealth LLC acquired a new stake in Invitae during the 1st quarter worth about $26,000. Arkadios Wealth Advisors boosted its position in Invitae by 729.6% during the 2nd quarter. Arkadios Wealth Advisors now owns 1,037 shares of the medical research company’s stock worth $34,000 after acquiring an additional 912 shares during the period. Huntington National Bank boosted its position in Invitae by 61.6% during the 2nd quarter. Huntington National Bank now owns 1,212 shares of the medical research company’s stock worth $41,000 after acquiring an additional 462 shares during the period. First Horizon Advisors Inc. acquired a new stake in Invitae during the 1st quarter worth about $43,000. Finally, Certified Advisory Corp acquired a new stake in Invitae during the 1st quarter worth about $50,000. Hedge funds and other institutional investors own 86.56% of the company’s stock.

In other news, CEO Sean E. George sold 3,675 shares of the business’s stock in a transaction that occurred on Thursday, July 22nd. The stock was sold at an average price of $29.39, for a total transaction of $108,008.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Robert F. Werner sold 15,337 shares of the business’s stock in a transaction that occurred on Thursday, August 19th. The shares were sold at an average price of $24.86, for a total value of $381,277.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,679 shares of company stock worth $1,904,341. Company insiders own 1.90% of the company’s stock.

A number of brokerages have commented on NVTA. Raymond James started coverage on Invitae in a research report on Tuesday, June 15th. They set an “outperform” rating and a $37.00 price objective for the company. The Goldman Sachs Group started coverage on Invitae in a report on Thursday, June 3rd. They set a “neutral” rating and a $33.00 price target for the company. Wells Fargo & Company lifted their price target on Invitae from $30.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, June 21st. Morgan Stanley reduced their price target on Invitae from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, August 5th. Finally, Zacks Investment Research upgraded Invitae from a “sell” rating to a “hold” rating in a report on Thursday, August 12th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Invitae currently has a consensus rating of “Buy” and a consensus target price of $43.20.

Shares of NYSE NVTA opened at $31.73 on Thursday. The company has a quick ratio of 12.08, a current ratio of 12.30 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $28.87 and its two-hundred day moving average is $32.03. The company has a market cap of $6.90 billion, a P/E ratio of -9.56 and a beta of 1.84. Invitae Co. has a 12 month low of $24.16 and a 12 month high of $61.59.

Invitae (NYSE:NVTA) last issued its quarterly earnings results on Tuesday, August 3rd. The medical research company reported ($0.85) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.20). The business had revenue of $116.31 million during the quarter, compared to the consensus estimate of $109.53 million. Invitae had a negative return on equity of 26.29% and a negative net margin of 149.68%. Sell-side analysts expect that Invitae Co. will post -2.79 earnings per share for the current fiscal year.

Invitae Company Profile

Invitae Corp. engages in the provision of genetic information into mainstream medical practice. It includes comprehensive panels for hereditary conditions in cancer, cardiology, neurology, pediatric, and rare diseases. The company was founded by Randal W. Scott and Sean E. George on January 13, 2010 and is headquartered in San Francisco, CA.

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Institutional Ownership by Quarter for Invitae (NYSE:NVTA)

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