InVitae Corp (NYSE:NVTA) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System raised its stake in InVitae Corp (NYSE:NVTA) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,355 shares of the medical research company’s stock after buying an additional 518 shares during the period. California Public Employees Retirement System owned approximately 0.10% of InVitae worth $1,812,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. First Republic Investment Management Inc. increased its holdings in InVitae by 7.8% in the first quarter. First Republic Investment Management Inc. now owns 11,228 shares of the medical research company’s stock valued at $263,000 after buying an additional 815 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of InVitae by 45.1% during the 4th 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 in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of InVitae by 15.4% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 18,573 shares of the medical research company’s stock worth $205,000 after purchasing an additional 2,480 shares in the last quarter. LPL Financial LLC increased its stake in shares of InVitae by 15.4% during the 4th quarter. LPL Financial LLC now owns 28,644 shares of the medical research company’s stock worth $317,000 after purchasing an additional 3,830 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in shares of InVitae by 173.1% during the 4th quarter. Great West Life Assurance Co. Can now owns 7,920 shares of the medical research company’s stock worth $84,000 after purchasing an additional 5,020 shares in the last quarter. 78.93% of the stock is owned by institutional investors.

In related news, CEO Sean E. George sold 24,282 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $18.21, for a total transaction of $442,175.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Randal W. Scott sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $17.60, for a total transaction of $528,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,651 shares of company stock valued at $1,591,217. Corporate insiders own 8.70% of the company’s stock.

A number of research analysts have recently weighed in on the stock. Chardan Capital reissued a “buy” rating and set a $30.00 price objective on shares of InVitae in a research note on Tuesday. Zacks Investment Research cut shares of InVitae from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Oppenheimer raised their price objective on shares of InVitae from $21.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Benchmark raised their price objective on shares of InVitae from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $20.00 price objective on shares of InVitae in a research note on Wednesday, February 20th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $25.20.

Shares of NVTA opened at $19.08 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 7.73 and a quick ratio of 7.73. InVitae Corp has a 1-year low of $7.08 and a 1-year high of $26.77. The company has a market cap of $1.70 billion, a PE ratio of -9.84 and a beta of 2.35.

InVitae (NYSE:NVTA) last issued its quarterly earnings data on Tuesday, May 7th. The medical research company reported ($0.47) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.01). InVitae had a negative return on equity of 65.76% and a negative net margin of 81.52%. The business had revenue of $40.55 million for the quarter, compared to analysts’ expectations of $47.17 million. During the same period last year, the business earned ($0.66) earnings per share. The company’s revenue for the quarter was up 46.5% on a year-over-year basis. As a group, sell-side analysts expect that InVitae Corp will post -1.91 earnings per share for the current fiscal year.

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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. 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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Institutional Ownership by Quarter for InVitae (NYSE:NVTA)

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