MetLife Investment Advisors LLC boosted its position in shares of InVitae Corp (NYSE:NVTA) by 55.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,933 shares of the medical research company’s stock after acquiring an additional 17,395 shares during the period. MetLife Investment Advisors LLC’s holdings in InVitae were worth $819,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in InVitae during the 3rd quarter worth $102,000. BlueMountain Capital Management LLC acquired a new position in shares of InVitae during the third quarter valued at about $110,000. Nikko Asset Management Americas Inc. acquired a new position in shares of InVitae during the third quarter valued at about $136,000. Metropolitan Life Insurance Co. NY raised its position in shares of InVitae by 67.5% during the second quarter. Metropolitan Life Insurance Co. NY now owns 22,273 shares of the medical research company’s stock valued at $164,000 after buying an additional 8,979 shares during the last quarter. Finally, Voya Investment Management LLC raised its position in shares of InVitae by 44.2% during the second quarter. Voya Investment Management LLC now owns 24,424 shares of the medical research company’s stock valued at $180,000 after buying an additional 7,488 shares during the last quarter. 75.42% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on NVTA. Zacks Investment Research lowered shares of InVitae from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. William Blair reaffirmed a “market perform” rating on shares of InVitae in a research report on Thursday, November 8th. Oppenheimer began coverage on shares of InVitae in a research report on Wednesday, December 19th. They set an “outperform” rating and a $20.00 price objective for the company. CIBC began coverage on shares of InVitae in a research report on Wednesday, December 19th. They set an “outperform” rating for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of InVitae to $16.00 and gave the company an “overweight” rating in a research report on Thursday, November 8th. One analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $15.60.
Shares of NVTA opened at $14.09 on Monday. The stock has a market cap of $1.05 billion, a PE ratio of -5.32 and a beta of 1.90. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.90 and a quick ratio of 3.90. InVitae Corp has a 52 week low of $4.35 and a 52 week high of $18.38.
InVitae (NYSE:NVTA) last announced its quarterly earnings data on Wednesday, November 7th. The medical research company reported ($0.45) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.02. The business had revenue of $37.37 million during the quarter, compared to analyst estimates of $34.80 million. InVitae had a negative net margin of 109.60% and a negative return on equity of 103.37%. The firm’s revenue for the quarter was up 105.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.57) earnings per share. Equities analysts predict that InVitae Corp will post -1.97 EPS for the current year.
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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.
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