Virtu Financial LLC acquired a new stake in shares of Invitae Co. (NYSE:NVTA – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 228,153 shares of the medical research company’s stock, valued at approximately $308,000. Virtu Financial LLC owned 0.09% of Invitae at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Longitude Cayman Ltd. boosted its position in Invitae by 9.2% during the 4th quarter. Longitude Cayman Ltd. now owns 415,000 shares of the medical research company’s stock valued at $772,000 after purchasing an additional 35,000 shares during the period. Bourne Lent Asset Management Inc. raised its stake in Invitae by 42.9% during the 1st quarter. Bourne Lent Asset Management Inc. now owns 273,350 shares of the medical research company’s stock valued at $369,000 after acquiring an additional 82,000 shares in the last quarter. Redwood Wealth Management Group LLC bought a new stake in Invitae during the 4th quarter valued at $76,000. Cyndeo Wealth Partners LLC bought a new stake in Invitae during the 4th quarter valued at $63,000. Finally, Newman & Schimel LLC bought a new stake in Invitae during the 4th quarter valued at $27,000. Institutional investors and hedge funds own 70.10% of the company’s stock.
Invitae Price Performance
Shares of Invitae stock opened at $1.28 on Tuesday. The stock’s fifty day moving average is $1.19 and its 200-day moving average is $1.57. The company has a quick ratio of 2.55, a current ratio of 2.65 and a debt-to-equity ratio of 15.68. Invitae Co. has a 12-month low of $1.02 and a 12-month high of $9.00.
Invitae (NYSE:NVTA – Get Free Report) last announced its earnings results on Tuesday, May 9th. The medical research company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.04. The company had revenue of $117.36 million for the quarter, compared to analyst estimates of $116.57 million. Invitae had a negative return on equity of 285.28% and a negative net margin of 611.14%. Invitae’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.78) earnings per share. Equities research analysts predict that Invitae Co. will post -1.48 EPS for the current fiscal year.
Insider Transactions at Invitae
In other news, CEO Kenneth D. Knight sold 45,432 shares of Invitae stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $1.20, for a total transaction of $54,518.40. Following the transaction, the chief executive officer now owns 1,671,610 shares in the company, valued at $2,005,932. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Yafei Wen sold 43,452 shares of Invitae stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $1.99, for a total transaction of $86,469.48. Following the transaction, the chief financial officer now owns 700,297 shares in the company, valued at $1,393,591.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kenneth D. Knight sold 45,432 shares of Invitae stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $1.20, for a total value of $54,518.40. Following the transaction, the chief executive officer now owns 1,671,610 shares in the company, valued at approximately $2,005,932. The disclosure for this sale can be found here. Insiders have sold 144,005 shares of company stock valued at $208,409 over the last three months. Company insiders own 0.74% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on NVTA. Raymond James downgraded Invitae from a “market perform” rating to an “underperform” rating in a research note on Monday, May 15th. StockNews.com began coverage on Invitae in a research note on Thursday, May 18th. They set a “sell” rating on the stock. The Goldman Sachs Group cut their target price on Invitae from $1.50 to $1.00 and set a “sell” rating on the stock in a research note on Friday. Finally, Piper Sandler dropped their price objective on Invitae from $1.75 to $1.50 in a research note on Monday, May 15th. Six analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Invitae has a consensus rating of “Reduce” and a consensus price target of $2.08.
About Invitae
Invitae Corporation, a medical genetics company, that provides genetic information to improve healthcare of people in the United States, Canada, and internationally. The company offers genetic tests in various clinical areas, including hereditary cancer, precision oncology, women’s health, rare diseases, and pharmacogenomics; digital health solutions; and health data services.