Zurcher Kantonalbank Zurich Cantonalbank Has $106,000 Holdings in InVitae Corp (NYSE:NVTA)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in InVitae Corp (NYSE:NVTA) by 15.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,519 shares of the medical research company’s stock after acquiring an additional 606 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in InVitae were worth $106,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Gilder Gagnon Howe & Co. LLC grew its stake in 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 valued at $129,513,000 after acquiring an additional 572,234 shares during the period. Nikko Asset Management Americas Inc. grew its stake in 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 valued at $125,321,000 after acquiring an additional 4,217,463 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in 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 valued at $124,969,000 after acquiring an additional 4,222,987 shares during the period. Redmile Group LLC grew its stake in InVitae by 161.6% in the first quarter. Redmile Group LLC now owns 1,374,175 shares of the medical research company’s stock valued at $32,183,000 after acquiring an additional 848,800 shares during the period. Finally, Victory Capital Management Inc. grew its stake in InVitae by 1,032.7% in the first quarter. Victory Capital Management Inc. now owns 1,196,935 shares of the medical research company’s stock valued at $28,033,000 after acquiring an additional 1,091,260 shares during the period. 87.51% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:NVTA traded down $0.66 during mid-day trading on Thursday, hitting $25.79. 113,064 shares of the company traded hands, compared to its average volume of 2,439,517. The stock has a market cap of $2.45 billion, a P/E ratio of -13.29 and a beta of 2.53. The company has a current ratio of 7.18, a quick ratio of 7.18 and a debt-to-equity ratio of 0.36. InVitae Corp has a 12-month low of $9.04 and a 12-month high of $28.75. The stock has a 50-day moving average price of $24.83 and a two-hundred day moving average price of $21.71.

InVitae (NYSE:NVTA) last announced its earnings results on Tuesday, August 6th. The medical research company reported ($0.54) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.06). The company 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% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.47) EPS. As a group, analysts expect that InVitae Corp will post -2.11 earnings per share for the current year.

In other InVitae news, COO E Lee Bendekgey sold 21,265 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $25.29, for a total value of $537,791.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Randal W. Scott sold 30,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $17.60, for a total value of $528,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,547 shares of company stock worth $3,215,811. 5.70% of the stock is owned by insiders.

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

InVitae Profile

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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