Invitae (NYSE:NVTA) insider Robert L. Nussbaum sold 6,702 shares of the company’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $6.96, for a total value of $46,645.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NVTA traded up $0.26 during mid-day trading on Friday, hitting $6.80. 612,548 shares of the stock were exchanged, compared to its average volume of 642,287. The stock has a market capitalization of $439.52 million, a price-to-earnings ratio of -2.57 and a beta of 1.03. Invitae has a 52-week low of $4.35 and a 52-week high of $10.41. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.53 and a quick ratio of 2.60.
Invitae (NYSE:NVTA) last issued its quarterly earnings data on Wednesday, May 9th. The medical research company reported ($0.66) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by ($0.05). The firm had revenue of $27.67 million for the quarter, compared to analysts’ expectations of $26.86 million. Invitae had a negative return on equity of 127.38% and a negative net margin of 154.96%. The firm’s revenue was up 167.6% on a year-over-year basis. During the same period last year, the company earned ($0.64) earnings per share. sell-side analysts expect that Invitae will post -2.22 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the stock. Stanley Laman Group Ltd. purchased a new stake in Invitae during the 4th quarter valued at $1,054,000. Perceptive Advisors LLC raised its holdings in Invitae by 6.4% during the 4th quarter. Perceptive Advisors LLC now owns 2,004,500 shares of the medical research company’s stock valued at $18,200,000 after buying an additional 120,000 shares during the period. ARK Investment Management LLC raised its holdings in Invitae by 44.1% during the 4th quarter. ARK Investment Management LLC now owns 2,104,798 shares of the medical research company’s stock valued at $19,112,000 after buying an additional 643,860 shares during the period. Teton Advisors Inc. raised its holdings in Invitae by 33.3% during the 4th quarter. Teton Advisors Inc. now owns 100,041 shares of the medical research company’s stock valued at $908,000 after buying an additional 25,000 shares during the period. Finally, Private Wealth Partners LLC raised its holdings in Invitae by 75.0% during the 4th quarter. Private Wealth Partners LLC now owns 171,500 shares of the medical research company’s stock valued at $1,557,000 after buying an additional 73,500 shares during the period. Institutional investors own 71.44% of the company’s stock.
NVTA has been the topic of several recent research reports. ValuEngine cut Invitae from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Benchmark decreased their price objective on Invitae from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. JPMorgan Chase decreased their price objective on Invitae from $13.00 to $9.00 and set an “overweight” rating on the stock in a report on Tuesday, February 13th. Finally, Zacks Investment Research cut Invitae from a “hold” rating to a “sell” rating in a report on Wednesday, April 11th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $10.05.
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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