Carnegie Capital Asset Management LLC grew its holdings in shares of Invitae Co. (NYSE:NVTA – Get Rating) by 63.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,000 shares of the medical research company's stock after purchasing an additional 7,000 shares during the period. Carnegie Capital Asset Management LLC's holdings in Invitae were worth $607,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in NVTA. Cambridge Investment Research Advisors Inc. raised its stake in Invitae by 14.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 65,130 shares of the medical research company's stock worth $159,000 after acquiring an additional 8,268 shares during the last quarter. ARK Investment Management LLC raised its stake in Invitae by 3.6% in the 2nd quarter. ARK Investment Management LLC now owns 28,668,950 shares of the medical research company's stock worth $105,215,000 after acquiring an additional 986,724 shares during the last quarter. Sanders Morris Harris LLC purchased a new position in Invitae in the 2nd quarter worth $37,000. Green Alpha Advisors LLC raised its stake in Invitae by 500.0% in the 2nd quarter. Green Alpha Advisors LLC now owns 497,469 shares of the medical research company's stock worth $1,214,000 after acquiring an additional 414,563 shares during the last quarter. Finally, Walleye Capital LLC raised its stake in Invitae by 130.2% in the 1st quarter. Walleye Capital LLC now owns 89,064 shares of the medical research company's stock worth $710,000 after acquiring an additional 50,378 shares during the last quarter. Hedge funds and other institutional investors own 88.27% of the company's stock.
Get Invitae alerts:Invitae Price Performance
NYSE:NVTA opened at $2.44 on Friday. Invitae Co. has a 52 week low of $1.83 and a 52 week high of $32.22. The company has a quick ratio of 6.07, a current ratio of 6.42 and a debt-to-equity ratio of 4.12. The stock has a market capitalization of $574.05 million, a PE ratio of -0.18 and a beta of 1.58. The stock's 50-day moving average price is $3.12 and its 200-day moving average price is $4.29.
Invitae (NYSE:NVTA – Get Rating) last posted its earnings results on Tuesday, August 9th. The medical research company reported ($0.68) EPS for the quarter, beating analysts' consensus estimates of ($0.74) by $0.06. Invitae had a negative return on equity of 29.91% and a negative net margin of 620.70%. The firm had revenue of $136.62 million for the quarter, compared to analysts' expectations of $137.47 million. As a group, equities analysts expect that Invitae Co. will post -4.1 EPS for the current fiscal year.Insider Activity
In other news, Director Sean E. George sold 22,085 shares of the firm's stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $4.55, for a total transaction of $100,486.75. Following the sale, the director now directly owns 788,656 shares in the company, valued at approximately $3,588,384.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Thomas Brida sold 7,048 shares of Invitae stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $4.55, for a total value of $32,068.40. Following the sale, the insider now directly owns 386,267 shares in the company, valued at approximately $1,757,514.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sean E. George sold 22,085 shares of Invitae stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $4.55, for a total value of $100,486.75. Following the completion of the sale, the director now owns 788,656 shares in the company, valued at $3,588,384.80. The disclosure for this sale can be found here. Insiders have sold 33,735 shares of company stock worth $152,009 in the last ninety days. Company insiders own 1.10% of the company's stock.
Wall Street Analyst Weigh In
NVTA has been the subject of a number of research analyst reports. Raymond James lowered Invitae from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 21st. Cowen lowered Invitae from an "outperform" rating to a "market perform" rating in a research note on Tuesday, July 26th. Benchmark lowered Invitae from a "buy" rating to a "hold" rating in a research note on Tuesday, July 19th. SVB Leerink lowered Invitae from an "outperform" rating to a "market perform" rating in a research note on Tuesday, July 19th. Finally, JPMorgan Chase & Co. lowered Invitae from a "neutral" rating to an "underweight" rating in a research note on Wednesday, August 10th. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $13.56.
About Invitae
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Invitae Corporation, a medical genetics company, integrates genetic information into mainstream medicine to improve healthcare of people in the United States, Canada, and internationally. The company offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, oncology, metabolic conditions, and rare diseases; digital health solutions; and health data services.
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