Nisa Investment Advisors LLC Sells 3,300 Shares of Invitae Co. (NYSE:NVTA)

Nisa Investment Advisors LLC cut its position in shares of Invitae Co. (NYSE:NVTA) by 80.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 800 shares of the medical research company’s stock after selling 3,300 shares during the period. Nisa Investment Advisors LLC’s holdings in Invitae were worth $27,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Invitae by 9.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,886,498 shares of the medical research company’s stock worth $502,122,000 after purchasing an additional 1,340,353 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Invitae by 19.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,531,776 shares of the medical research company’s stock worth $96,739,000 after purchasing an additional 419,051 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Invitae by 16.3% in the 1st quarter. Geode Capital Management LLC now owns 2,415,100 shares of the medical research company’s stock valued at $92,280,000 after purchasing an additional 338,577 shares in the last quarter. Rock Springs Capital Management LP boosted its holdings in shares of Invitae by 19.5% during the 1st quarter. Rock Springs Capital Management LP now owns 2,213,977 shares of the medical research company’s stock valued at $84,596,000 after acquiring an additional 361,910 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Invitae by 0.9% during the 1st quarter. Northern Trust Corp now owns 1,537,090 shares of the medical research company’s stock worth $58,732,000 after buying an additional 13,526 shares during the period. Institutional investors and hedge funds own 86.56% of the company’s stock.

NVTA opened at $30.83 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 12.08 and a current ratio of 12.30. Invitae Co. has a fifty-two week low of $24.16 and a fifty-two week high of $61.59. The firm’s fifty day moving average is $28.77 and its 200 day moving average is $32.05. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of -9.29 and a beta of 1.84.

Invitae (NYSE:NVTA) last posted its earnings results on Tuesday, August 3rd. The medical research company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.20). Invitae had a negative return on equity of 26.29% and a negative net margin of 149.68%. The business had revenue of $116.31 million during the quarter, compared to the consensus estimate of $109.53 million. On average, equities research analysts predict that Invitae Co. will post -2.79 earnings per share for the current year.

In related news, CEO Sean E. George sold 3,675 shares of the company’s stock in a transaction dated Thursday, July 22nd. The shares were sold at an average price of $29.39, for a total transaction of $108,008.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Robert F. Werner sold 15,337 shares of the business’s stock in a transaction dated Thursday, August 19th. The shares were sold at an average price of $24.86, for a total transaction of $381,277.82. The disclosure for this sale can be found here. Insiders have sold a total of 74,679 shares of company stock worth $1,904,341 over the last quarter. 1.90% of the stock is currently owned by insiders.

Several equities analysts recently commented on NVTA shares. Raymond James began coverage on Invitae in a research note on Tuesday, June 15th. They issued an “outperform” rating and a $37.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of Invitae from $30.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, June 21st. Benchmark upgraded shares of Invitae from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Wednesday, August 4th. The Goldman Sachs Group initiated coverage on shares of Invitae in a report on Thursday, June 3rd. They set a “neutral” rating and a $33.00 target price for the company. Finally, SVB Leerink restated a “buy” rating on shares of Invitae in a report on Thursday, September 9th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $43.20.

Invitae Company Profile

Invitae Corp. engages in the provision of genetic information into mainstream medical practice. It includes comprehensive panels for hereditary conditions in cancer, cardiology, neurology, pediatric, and rare diseases. The company was founded by Randal W. Scott and Sean E. George on January 13, 2010 and is headquartered in San Francisco, CA.

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Institutional Ownership by Quarter for Invitae (NYSE:NVTA)

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