Indie Asset Partners LLC Purchases Shares of 8,875 Invitae Co. (NYSE:NVTA)


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Indie Asset Partners LLC purchased a new stake in Invitae Co. (NYSE:NVTA) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 8,875 shares of the medical research company’s stock, valued at approximately $371,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sonora Investment Management LLC acquired a new position in shares of Invitae in the 4th quarter valued at $29,000. Atlas Private Wealth Advisors acquired a new position in shares of Invitae during the 3rd quarter valued at $43,000. Perigon Wealth Management LLC acquired a new position in shares of Invitae during the 4th quarter valued at $59,000. Lee Financial Co acquired a new position in shares of Invitae during the 3rd quarter valued at $68,000. Finally, Winslow Evans & Crocker Inc. lifted its holdings in shares of Invitae by 223.9% during the 4th quarter. Winslow Evans & Crocker Inc. now owns 2,170 shares of the medical research company’s stock valued at $91,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors own 78.60% of the company’s stock.

Shares of NVTA traded down $3.45 during midday trading on Tuesday, hitting $41.36. The company had a trading volume of 259,374 shares, compared to its average volume of 4,108,689. The company’s 50 day moving average price is $50.76 and its 200 day moving average price is $44.99. The stock has a market cap of $7.31 billion, a price-to-earnings ratio of -10.31 and a beta of 2.11. Invitae Co. has a 52 week low of $7.41 and a 52 week high of $61.59. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.68.

Invitae (NYSE:NVTA) last released its earnings results on Tuesday, February 16th. The medical research company reported ($0.63) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.08). The company had revenue of $100.43 million during the quarter, compared to the consensus estimate of $97.87 million. Invitae had a negative return on equity of 81.19% and a negative net margin of 183.50%. Equities analysts anticipate that Invitae Co. will post -2.69 EPS for the current fiscal year.

In related news, COO Kenneth D. Knight sold 3,622 shares of the business’s stock in a transaction dated Thursday, December 24th. The shares were sold at an average price of $50.50, for a total transaction of $182,911.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sean E. George sold 8,675 shares of the business’s stock in a transaction dated Thursday, January 21st. The shares were sold at an average price of $53.80, for a total transaction of $466,715.00. The disclosure for this sale can be found here. Insiders sold a total of 677,539 shares of company stock valued at $33,662,470 in the last three months. Insiders own 2.90% of the company’s stock.

NVTA has been the topic of several recent research reports. Zacks Investment Research lowered shares of Invitae from a “hold” rating to a “sell” rating in a report on Tuesday. SVB Leerink lifted their target price on shares of Invitae from $64.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, February 18th. LADENBURG THALM/SH SH upgraded shares of Invitae from a “neutral” rating to a “buy” rating and lifted their target price for the company from $46.50 to $58.00 in a report on Thursday, February 18th. Oppenheimer downgraded shares of Invitae from an “outperform” rating to a “market perform” rating in a research note on Monday, February 1st. They noted that the move was a valuation call. Finally, Morgan Stanley lifted their price target on shares of Invitae from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Friday, November 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.38.

Invitae Company Profile

Invitae Corporation, a medical genetics 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. It offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, metabolic conditions, and rare diseases; prenatal and perinatal genetic tests; and non-invasive prenatal screening products.

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Institutional Ownership by Quarter for Invitae (NYSE:NVTA)

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