InVitae Corp (NVTA) Position Increased by New York State Common Retirement Fund

New York State Common Retirement Fund increased its holdings in shares of InVitae Corp (NYSE:NVTA) by 11.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,300 shares of the medical research company’s stock after purchasing an additional 6,700 shares during the quarter. New York State Common Retirement Fund owned 0.09% of InVitae worth $711,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Morgan Stanley grew its position in InVitae by 8.5% in the 3rd quarter. Morgan Stanley now owns 152,712 shares of the medical research company’s stock valued at $2,555,000 after acquiring an additional 11,957 shares in the last quarter. MetLife Investment Advisors LLC grew its position in InVitae by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 48,933 shares of the medical research company’s stock valued at $819,000 after acquiring an additional 17,395 shares in the last quarter. Meeder Asset Management Inc. grew its position in InVitae by 183.3% in the 4th quarter. Meeder Asset Management Inc. now owns 15,640 shares of the medical research company’s stock valued at $174,000 after acquiring an additional 10,119 shares in the last quarter. Boston Advisors LLC grew its position in InVitae by 11.7% in the 4th quarter. Boston Advisors LLC now owns 54,375 shares of the medical research company’s stock valued at $601,000 after acquiring an additional 5,700 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in InVitae by 11.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,885,650 shares of the medical research company’s stock valued at $48,278,000 after acquiring an additional 292,125 shares in the last quarter. 74.71% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on the company. Chardan Capital assumed coverage on InVitae in a research report on Monday, March 4th. They issued a “buy” rating and a $29.00 target price for the company. Benchmark lifted their target price on InVitae from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, February 20th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $20.00 target price on shares of InVitae in a research report on Wednesday, February 20th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded InVitae from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $20.80.

Shares of InVitae stock opened at $23.60 on Tuesday. InVitae Corp has a one year low of $4.70 and a one year high of $25.76. The stock has a market cap of $1.81 billion, a PE ratio of -12.16 and a beta of 2.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.56 and a quick ratio of 4.56.

InVitae (NYSE:NVTA) last announced its quarterly earnings data on Tuesday, February 19th. The medical research company reported ($0.40) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.02. InVitae had a negative return on equity of 88.93% and a negative net margin of 87.58%. The business had revenue of $45.36 million during the quarter, compared to the consensus estimate of $40.87 million. On average, sell-side analysts predict that InVitae Corp will post -1.81 earnings per share for the current year.

In related news, CFO Shelly D. Guyer sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $14.49, for a total transaction of $57,960.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO E Lee Bendekgey sold 4,650 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $19.62, for a total value of $91,233.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,872 shares of company stock valued at $932,043. Corporate insiders own 8.70% of the company’s stock.

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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. 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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Institutional Ownership by Quarter for InVitae (NYSE:NVTA)

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