Xact Kapitalforvaltning AB bought a new position in InVitae Corp (NYSE:NVTA) during the second quarter, according to its most recent filing with the SEC. The firm bought 11,400 shares of the medical research company’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of InVitae by 11.5% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 5,530,037 shares of the medical research company’s stock worth $129,513,000 after purchasing an additional 572,234 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of InVitae by 6.4% in the 4th quarter. BlackRock Inc. now owns 5,351,727 shares of the medical research company’s stock worth $59,191,000 after purchasing an additional 321,241 shares in the last quarter. Redmile Group LLC lifted its holdings in shares of InVitae by 161.6% in the 1st quarter. Redmile Group LLC now owns 1,374,175 shares of the medical research company’s stock worth $32,183,000 after purchasing an additional 848,800 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of InVitae by 1,032.7% in the 1st quarter. Victory Capital Management Inc. now owns 1,196,935 shares of the medical research company’s stock worth $28,033,000 after purchasing an additional 1,091,260 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its holdings in shares of InVitae by 14,483.2% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 1,115,325 shares of the medical research company’s stock worth $26,121,000 after purchasing an additional 1,107,677 shares in the last quarter. Institutional investors own 79.25% of the company’s stock.

A number of equities analysts recently issued reports on the company. Benchmark increased their target price on InVitae from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Zacks Investment Research cut Heritage Insurance from a “hold” rating to a “strong sell” rating in a research note on Friday, April 26th. Oppenheimer started coverage on Focus Financial Partners in a research note on Monday, April 8th. They set an “outperform” rating and a $48.00 price objective on the stock. Finally, Chardan Capital restated a “buy” rating and set a $30.00 price objective on shares of InVitae in a research note on Tuesday, June 11th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. InVitae presently has an average rating of “Buy” and an average target price of $26.40.

In other news, insider Katherine Stueland sold 3,789 shares of InVitae stock in a transaction on Monday, July 15th. The stock was sold at an average price of $22.49, for a total transaction of $85,214.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Randal W. Scott sold 30,000 shares of InVitae 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. Insiders have sold a total of 93,229 shares of company stock worth $1,701,067 over the last quarter. Company insiders own 5.70% of the company’s stock.

NYSE:NVTA traded down $0.30 during trading hours on Monday, hitting $25.36. 66,677 shares of the company traded hands, compared to its average volume of 1,743,838. The company has a debt-to-equity ratio of 0.37, a quick ratio of 7.73 and a current ratio of 7.73. The business’s 50-day simple moving average is $22.22. InVitae Corp has a one year low of $7.73 and a one year high of $26.77. The firm has a market cap of $2.27 billion, a P/E ratio of -13.05 and a beta of 2.52.

InVitae (NYSE:NVTA) last issued its quarterly earnings data on Tuesday, May 7th. The medical research company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.01). InVitae had a negative net margin of 81.52% and a negative return on equity of 65.76%. The company had revenue of $40.55 million for the quarter, compared to the consensus estimate of $47.17 million. During the same quarter last year, the business posted ($0.66) earnings per share. InVitae’s revenue was up 46.5% on a year-over-year basis. On average, analysts forecast that InVitae Corp will post -1.88 earnings per share for the current fiscal year.

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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