Perkins Capital Management Inc. bought a new position in InVitae Corp (NYSE:NVTA) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 40,100 shares of the medical research company’s stock, valued at approximately $939,000.

A number of other hedge funds have also modified their holdings of the business. Peregrine Capital Management LLC bought a new stake in shares of InVitae during the first quarter valued at approximately $15,009,000. Teachers Advisors LLC increased its holdings in shares of InVitae by 497.7% during the third quarter. Teachers Advisors LLC now owns 622,681 shares of the medical research company’s stock valued at $10,417,000 after acquiring an additional 518,499 shares in the last quarter. Millennium Management LLC increased its holdings in shares of InVitae by 186.3% during the fourth quarter. Millennium Management LLC now owns 676,015 shares of the medical research company’s stock valued at $7,477,000 after acquiring an additional 439,916 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of InVitae during the fourth quarter valued at approximately $4,372,000. Finally, BlackRock Inc. increased its holdings in shares of InVitae by 6.4% during the fourth quarter. BlackRock Inc. now owns 5,351,727 shares of the medical research company’s stock valued at $59,191,000 after acquiring an additional 321,241 shares in the last quarter. Institutional investors and hedge funds own 74.69% of the company’s stock.

InVitae stock traded down $0.01 during trading on Monday, hitting $22.83. 44,635 shares of the company were exchanged, compared to its average volume of 1,784,208. InVitae Corp has a 52 week low of $5.31 and a 52 week high of $26.77. The company has a market capitalization of $1.74 billion, a P/E ratio of -11.69 and a beta of 2.25. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.47.

InVitae (NYSE:NVTA) last posted its quarterly earnings data on Tuesday, February 19th. The medical research company reported ($0.40) earnings per share for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $40.87 million. On average, analysts predict that InVitae Corp will post -1.81 EPS for the current year.

In other InVitae news, insider Katherine Stueland sold 1,000 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $25.23, for a total value of $25,230.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Shelly D. Guyer sold 4,000 shares of the business’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $20.00, for a total value of $80,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 41,650 shares of company stock worth $812,563. Insiders own 8.70% of the company’s stock.

Several equities research analysts have recently commented on NVTA shares. Zacks Investment Research downgraded InVitae from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $20.00 price target on shares of InVitae in a report on Wednesday, February 20th. They noted that the move was a valuation call. Chardan Capital initiated coverage on InVitae in a report on Monday, March 4th. They set a “buy” rating and a $29.00 price target for the company. Finally, Oppenheimer upped their price target on InVitae from $21.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. InVitae currently has an average rating of “Buy” and an average price target of $22.80.

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InVitae Company 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. 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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