InVitae Corp (NYSE:NVTA) insider Robert L. Nussbaum sold 7,202 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $18.21, for a total value of $131,148.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of NVTA traded down $0.40 during trading hours on Wednesday, hitting $18.02. 765,491 shares of the company were exchanged, compared to its average volume of 1,788,818. The company has a market cap of $1.65 billion, a PE ratio of -9.29 and a beta of 2.20. InVitae Corp has a 52 week low of $7.08 and a 52 week high of $26.77. The company has a debt-to-equity ratio of 0.37, a quick ratio of 7.73 and a current ratio of 7.73.

InVitae (NYSE:NVTA) last released its quarterly earnings results on Tuesday, May 7th. The medical research company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.01). The company had revenue of $40.55 million for the quarter, compared to the consensus estimate of $47.17 million. InVitae had a negative return on equity of 65.76% and a negative net margin of 81.52%. The business’s revenue was up 46.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.66) EPS. On average, research analysts predict that InVitae Corp will post -1.97 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in InVitae by 12.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 293,466 shares of the medical research company’s stock worth $4,910,000 after purchasing an additional 33,439 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in InVitae by 46.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 184,526 shares of the medical research company’s stock valued at $3,087,000 after acquiring an additional 58,538 shares during the period. Morgan Stanley lifted its stake in InVitae by 8.5% during 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 during the period. Vanguard Group Inc. lifted its stake in InVitae by 11.3% during 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 during the period. Finally, Vanguard Group Inc lifted its stake in InVitae by 11.3% during 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 during the period. Institutional investors own 67.56% of the company’s stock.

NVTA has been the topic of several research reports. Zacks Investment Research raised InVitae from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Saturday, February 9th. 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. Chardan Capital began coverage on InVitae in a research report on Monday, March 4th. They issued a “buy” rating and a $29.00 target price on the stock. Oppenheimer upped their price target on InVitae from $21.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, Benchmark upped their price target on InVitae from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. InVitae currently has an average rating of “Buy” and an average price target of $25.00.

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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. 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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