Gabelli Funds LLC decreased its stake in InVitae Corp (NYSE:NVTA) by 10.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,000 shares of the medical research company’s stock after selling 2,000 shares during the period. Gabelli Funds LLC’s holdings in InVitae were worth $199,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in InVitae by 45.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,780 shares of the medical research company’s stock worth $53,000 after purchasing an additional 1,486 shares during the period. Quantbot Technologies LP acquired a new stake in InVitae during the third quarter worth approximately $102,000. BlueMountain Capital Management LLC acquired a new stake in InVitae during the third quarter worth approximately $110,000. Nikko Asset Management Americas Inc. acquired a new stake in InVitae during the third quarter worth approximately $136,000. Finally, Focused Wealth Management Inc acquired a new stake in InVitae during the fourth quarter worth approximately $88,000. 75.14% of the stock is owned by institutional investors.
In other news, CFO Shelly D. Guyer sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $14.49, for a total value of $57,960.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Patty Dumond sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $12.90, for a total value of $25,800.00. The disclosure for this sale can be found here. Insiders sold 23,222 shares of company stock valued at $316,950 in the last three months. Insiders own 8.70% of the company’s stock.
Several research firms recently commented on NVTA. Zacks Investment Research raised InVitae from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Saturday, January 26th. JPMorgan Chase & Co. raised their target price on InVitae to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, November 8th. Benchmark began coverage on InVitae in a research note on Tuesday, November 20th. They set a “buy” rating and a $17.00 target price for the company. Finally, William Blair reissued a “market perform” rating on shares of InVitae in a research note on Thursday, November 8th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $17.00.
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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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