American International Group Inc. boosted its position in shares of InVitae Corp (NASDAQ:NVTA) by 31.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,174 shares of the medical research company’s stock after buying an additional 4,090 shares during the period. American International Group Inc.’s holdings in InVitae Corp were worth $190,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Donald L. Hagan LLC purchased a new stake in shares of InVitae Corp during the first quarter worth approximately $111,000. Renaissance Technologies LLC purchased a new stake in shares of InVitae Corp during the fourth quarter worth approximately $879,000. State Street Corp raised its position in InVitae Corp by 9.4% in the fourth quarter. State Street Corp now owns 338,514 shares of the medical research company’s stock worth $2,688,000 after buying an additional 29,017 shares in the last quarter. Teton Advisors Inc. bought a new position in InVitae Corp during the first quarter worth approximately $564,000. Finally, Teachers Advisors LLC raised its position in InVitae Corp by 18.3% in the fourth quarter. Teachers Advisors LLC now owns 42,372 shares of the medical research company’s stock worth $336,000 after buying an additional 6,547 shares in the last quarter.
InVitae Corp (NVTA) opened at 9.60 on Friday. The firm’s market capitalization is $418.02 million. InVitae Corp has a 52 week low of $5.76 and a 52 week high of $11.88. The firm has a 50-day moving average price of $9.56 and a 200 day moving average price of $9.83.
InVitae Corp (NASDAQ:NVTA) last released its earnings results on Monday, August 7th. The medical research company reported ($0.66) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.64) by $0.02. The company had revenue of $14.34 million for the quarter, compared to analysts’ expectations of $13.31 million. InVitae Corp had a negative net margin of 199.20% and a negative return on equity of 153.27%. InVitae Corp’s revenue for the quarter was up 157.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.77) earnings per share. On average, equities research analysts forecast that InVitae Corp will post ($2.35) earnings per share for the current fiscal year.
NVTA has been the topic of a number of recent analyst reports. ValuEngine lowered InVitae Corp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 23rd. Zacks Investment Research raised InVitae Corp from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. BidaskClub raised InVitae Corp from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $15.00 price objective (up from $14.00) on shares of InVitae Corp in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. InVitae Corp has a consensus rating of “Hold” and an average target price of $12.94.
About InVitae Corp
Invitae Corporation utilizes an integrated portfolio of laboratory processes, software tools and informatics capabilities to process deoxyribonucleic acid (DNA)-containing samples, analyze information about patient-specific genetic variation and generate test reports for clinicians and their patients.
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