Millennium Management LLC raised its holdings in shares of InVitae Corp (NYSE:NVTA) by 694.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 536,056 shares of the medical research company’s stock after purchasing an additional 468,596 shares during the period. Millennium Management LLC owned 0.78% of InVitae worth $3,940,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Montreal Can acquired a new stake in InVitae during the 2nd quarter valued at approximately $155,000. Metropolitan Life Insurance Co. NY lifted its stake in InVitae by 67.5% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 22,273 shares of the medical research company’s stock valued at $164,000 after acquiring an additional 8,979 shares during the period. Voya Investment Management LLC lifted its stake in InVitae by 44.2% during the 2nd quarter. Voya Investment Management LLC now owns 24,424 shares of the medical research company’s stock valued at $180,000 after acquiring an additional 7,488 shares during the period. MetLife Investment Advisors LLC increased its holdings in shares of InVitae by 97.2% during the 2nd quarter. MetLife Investment Advisors LLC now owns 31,538 shares of the medical research company’s stock valued at $232,000 after purchasing an additional 15,543 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in shares of InVitae during the 1st quarter valued at approximately $247,000. 73.78% of the stock is currently owned by institutional investors and hedge funds.
NYSE NVTA traded up $0.18 on Friday, hitting $13.01. The company had a trading volume of 1,857,312 shares, compared to its average volume of 972,032. InVitae Corp has a 12-month low of $4.35 and a 12-month high of $18.38. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.75 and a current ratio of 3.75. The firm has a market cap of $998.43 million, a PE ratio of -4.91 and a beta of 1.84.
InVitae (NYSE:NVTA) last announced its earnings results on Wednesday, November 7th. The medical research company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.02. InVitae had a negative net margin of 109.60% and a negative return on equity of 115.90%. The company had revenue of $37.37 million for the quarter, compared to analysts’ expectations of $34.80 million. During the same quarter in the previous year, the company posted ($0.57) EPS. The firm’s quarterly revenue was up 105.9% on a year-over-year basis. On average, equities analysts predict that InVitae Corp will post -2.03 EPS for the current fiscal year.
NVTA has been the subject of several recent research reports. Zacks Investment Research raised shares of InVitae from a “hold” rating to a “strong-buy” rating and set a $10.00 target price for the company in a report on Thursday, July 26th. ValuEngine raised shares of InVitae from a “hold” rating to a “buy” rating in a report on Thursday, August 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of InVitae to $16.00 and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. InVitae has an average rating of “Buy” and a consensus price target of $12.40.
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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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