InVitae Corp (NYSE:NVTA) Insider Sells $517,104.63 in Stock

InVitae Corp (NYSE:NVTA) insider Robert L. Nussbaum sold 20,447 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $25.29, for a total transaction of $517,104.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NVTA stock traded down $1.13 during trading on Thursday, hitting $25.32. 67,533 shares of the stock traded hands, compared to its average volume of 2,439,517. The firm has a market capitalization of $2.45 billion, a P/E ratio of -13.07 and a beta of 2.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 7.18 and a quick ratio of 7.18. The firm’s fifty day moving average price is $24.83 and its 200-day moving average price is $21.71. InVitae Corp has a 52-week low of $9.04 and a 52-week high of $28.75.

InVitae (NYSE:NVTA) last released its quarterly earnings results on Tuesday, August 6th. The medical research company reported ($0.54) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.06). The firm had revenue of $53.48 million for the quarter, compared to analysts’ expectations of $50.17 million. InVitae had a negative net margin of 83.69% and a negative return on equity of 58.48%. The firm’s quarterly revenue was up 43.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.47) EPS. As a group, equities research analysts expect that InVitae Corp will post -2.11 earnings per share for the current year.

A number of research firms have weighed in on NVTA. Leerink Swann set a $31.00 target price on shares of InVitae and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Zacks Investment Research lowered shares of InVitae from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Chardan Capital reaffirmed a “buy” rating and set a $30.00 price target on shares of InVitae in a research report on Tuesday, June 11th. Oppenheimer set a $34.00 price target on shares of InVitae and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $28.00 price target (up previously from $26.00) on shares of InVitae in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. InVitae presently has a consensus rating of “Buy” and an average target price of $28.17.

Hedge funds have recently added to or reduced their stakes in the company. ARK Investment Management LLC increased its holdings in InVitae by 7.9% in the 2nd quarter. ARK Investment Management LLC now owns 9,423,157 shares of the medical research company’s stock valued at $221,444,000 after purchasing an additional 693,634 shares during the last quarter. BlackRock Inc. grew its stake in shares of InVitae by 19.3% in the second quarter. BlackRock Inc. now owns 6,397,193 shares of the medical research company’s stock worth $150,335,000 after acquiring an additional 1,037,130 shares in the last quarter. Gilder Gagnon Howe & Co. LLC grew its stake in shares of InVitae by 11.5% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 5,530,037 shares of the medical research company’s stock worth $129,513,000 after acquiring an additional 572,234 shares in the last quarter. Nikko Asset Management Americas Inc. grew its stake in shares of InVitae by 378.1% in the second quarter. Nikko Asset Management Americas Inc. now owns 5,332,788 shares of the medical research company’s stock worth $125,321,000 after acquiring an additional 4,217,463 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of InVitae by 385.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,317,840 shares of the medical research company’s stock worth $124,969,000 after acquiring an additional 4,222,987 shares in the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

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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Insider Buying and Selling by Quarter for InVitae (NYSE:NVTA)

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