InVitae Corp (NVTA) Insider Robert L. Nussbaum Sells 1,686 Shares of Stock
InVitae Corp (NASDAQ:NVTA) insider Robert L. Nussbaum sold 1,686 shares of the stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $9.53, for a total transaction of $16,067.58. Following the transaction, the insider now directly owns 62,823 shares of the company’s stock, valued at $598,703.19. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of InVitae Corp (NASDAQ:NVTA) traded down 5.13% on Thursday, reaching $9.61. 449,309 shares of the company’s stock traded hands. The stock’s market cap is $348.31 million. The firm’s 50-day moving average is $8.74 and its 200-day moving average is $8.09. InVitae Corp has a 52-week low of $5.76 and a 52-week high of $11.85.
InVitae Corp (NASDAQ:NVTA) last released its quarterly earnings data on Monday, February 13th. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.04. The company had revenue of $9.20 million for the quarter, compared to analysts’ expectations of $8.82 million. During the same period in the previous year, the firm earned ($0.76) earnings per share. The firm’s revenue for the quarter was up 187.5% on a year-over-year basis. Analysts anticipate that InVitae Corp will post ($2.36) EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC bought a new position in InVitae Corp during the fourth quarter valued at $3,970,000. Renaissance Technologies LLC bought a new position in InVitae Corp during the fourth quarter valued at $879,000. ARK Investment Management LLC bought a new position in InVitae Corp during the fourth quarter valued at $5,293,000. State Street Corp boosted its position in InVitae Corp by 9.4% in the fourth quarter. State Street Corp now owns 338,514 shares of the company’s stock valued at $2,688,000 after buying an additional 29,017 shares during the last quarter. Finally, Baker BROS. Advisors LP bought a new position in InVitae Corp during the third quarter valued at $57,422,000.
NVTA has been the subject of a number of research reports. Leerink Swann initiated coverage on shares of InVitae Corp in a research report on Thursday, November 10th. They set an “outperform” rating and a $12.00 target price for the company. Zacks Investment Research downgraded shares of InVitae Corp from a “hold” rating to a “sell” rating in a report on Wednesday, January 18th. Finally, Benchmark Co. reaffirmed a “neutral” rating on shares of InVitae Corp in a report on Tuesday, November 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $11.44.
InVitae Corp Company Profile
Invitae Corporation (Invitae) utilizes an integrated portfolio of laboratory processes, software tools and informatics capabilities to process deoxyribonucleic acid (DNA)-containing samples, analyze information about patient-specific genetic variation and generate test reports for clinicians and their patients.
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