Rhumbline Advisers Grows Stake in InVitae Corp (NYSE:NVTA)

Rhumbline Advisers boosted its position in shares of InVitae Corp (NYSE:NVTA) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 115,583 shares of the medical research company’s stock after purchasing an additional 1,686 shares during the quarter. Rhumbline Advisers’ holdings in InVitae were worth $2,227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NVTA. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in InVitae by 385.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,317,840 shares of the medical research company’s stock worth $124,969,000 after purchasing an additional 4,222,987 shares during the period. Nikko Asset Management Americas Inc. increased its holdings in shares of InVitae by 378.1% in the 2nd 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 during the period. BlackRock Inc. increased its holdings in shares of InVitae by 19.3% in the 2nd 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 during the period. Nuveen Asset Management LLC purchased a new position in shares of InVitae in the 2nd quarter valued at $23,901,000. Finally, Victory Capital Management Inc. increased its holdings in shares of InVitae by 61.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,928,655 shares of the medical research company’s stock valued at $45,323,000 after acquiring an additional 731,720 shares during the period. Institutional investors own 91.37% of the company’s stock.

Shares of NYSE:NVTA opened at $17.38 on Thursday. InVitae Corp has a 12-month low of $9.04 and a 12-month high of $28.75. The business’s fifty day simple moving average is $17.78 and its 200-day simple moving average is $21.14. The company has a market capitalization of $1.72 billion, a PE ratio of -8.96 and a beta of 2.47. The company has a current ratio of 7.38, a quick ratio of 7.38 and a debt-to-equity ratio of 0.77.

InVitae (NYSE:NVTA) last posted its quarterly earnings data on Wednesday, November 6th. The medical research company reported ($0.69) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.52) by ($0.17). The business had revenue of $56.51 million during the quarter, compared to analyst estimates of $55.00 million. InVitae had a negative return on equity of 58.90% and a negative net margin of 99.49%. Research analysts predict that InVitae Corp will post -2.38 EPS for the current year.

A number of brokerages have recently issued reports on NVTA. Benchmark reiterated a “buy” rating and issued a $28.00 price target (up from $26.00) on shares of InVitae in a report on Wednesday, August 7th. Oppenheimer set a $34.00 price target on InVitae and gave the company a “buy” rating in a report on Wednesday, August 7th. Zacks Investment Research downgraded InVitae from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. ValuEngine upgraded InVitae from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Chardan Capital set a $32.00 price target on InVitae and gave the company a “buy” rating in a report on Sunday, August 25th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. InVitae currently has an average rating of “Buy” and an average price target of $27.83.

In other news, insider Randal W. Scott sold 40,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $24.59, for a total value of $983,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shelly D. Guyer sold 24,447 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $25.38, for a total value of $620,464.86. The disclosure for this sale can be found here. Insiders sold a total of 148,757 shares of company stock valued at $3,722,305 in the last three months. Insiders own 5.70% of the company’s stock.

About InVitae

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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