Bank of America Corp DE Acquires 44,075 Shares of InVitae Corp (NYSE:NVTA)

Bank of America Corp DE grew its holdings in shares of InVitae Corp (NYSE:NVTA) by 17.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 298,929 shares of the medical research company’s stock after buying an additional 44,075 shares during the period. Bank of America Corp DE owned approximately 0.31% of InVitae worth $7,024,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Swiss National Bank boosted its holdings in shares of InVitae by 2.2% during the 2nd quarter. Swiss National Bank now owns 151,700 shares of the medical research company’s stock worth $3,565,000 after buying an additional 3,300 shares in the last quarter. Calamos Advisors LLC bought a new position in shares of InVitae in the 2nd quarter worth $2,373,000. Farallon Capital Management LLC lifted its holdings in shares of InVitae by 200.0% in the 2nd quarter. Farallon Capital Management LLC now owns 900,000 shares of the medical research company’s stock worth $21,150,000 after purchasing an additional 600,000 shares in the last quarter. Aperio Group LLC bought a new position in shares of InVitae in the 2nd quarter worth $203,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of InVitae by 18.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 516,212 shares of the medical research company’s stock worth $12,131,000 after purchasing an additional 80,546 shares in the last quarter. Hedge funds and other institutional investors own 86.98% of the company’s stock.

Shares of NVTA opened at $17.99 on Friday. InVitae Corp has a 12-month low of $9.04 and a 12-month high of $28.75. The business’s fifty day moving average is $21.30 and its 200 day moving average is $22.27. The company has a quick ratio of 7.18, a current ratio of 7.18 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.74 billion, a P/E ratio of -9.27 and a beta of 2.51.

InVitae (NYSE:NVTA) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.06). InVitae had a negative net margin of 83.69% and a negative return on equity of 58.48%. The company had revenue of $53.48 million for the quarter, compared to the consensus estimate of $50.17 million. During the same quarter last year, the business posted ($0.47) earnings per share. InVitae’s revenue was up 43.3% on a year-over-year basis. On average, analysts expect that InVitae Corp will post -2.12 EPS for the current year.

In other InVitae news, CEO Sean E. George sold 16,358 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $25.29, for a total transaction of $413,693.82. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Shelly D. Guyer sold 24,447 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $25.38, for a total value of $620,464.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 152,546 shares of company stock worth $3,807,519. Company insiders own 5.70% of the company’s stock.

A number of equities analysts recently issued reports on the company. Leerink Swann set a $31.00 target price on InVitae and gave the stock a “buy” rating in a report on Wednesday, August 7th. Benchmark reiterated a “buy” rating and issued a $28.00 target price (up from $26.00) on shares of InVitae in a report on Wednesday, August 7th. Chardan Capital set a $32.00 target price on InVitae and gave the stock a “buy” rating in a report on Sunday, August 25th. Oppenheimer set a $34.00 target price on InVitae and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, ValuEngine cut InVitae from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $27.83.

InVitae 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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