Invitae Co. (NYSE:NVTA) COO Kenneth D. Knight Sells 28,295 Shares

Invitae Co. (NYSE:NVTAGet Rating) COO Kenneth D. Knight sold 28,295 shares of the company’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $3.81, for a total value of $107,803.95. Following the completion of the transaction, the chief operating officer now directly owns 518,895 shares of the company’s stock, valued at $1,976,989.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of NVTA stock traded up $0.28 during trading hours on Thursday, hitting $3.72. The stock had a trading volume of 13,400,608 shares, compared to its average volume of 6,823,376. The firm has a market capitalization of $852.96 million, a PE ratio of -1.14 and a beta of 1.89. Invitae Co. has a twelve month low of $3.32 and a twelve month high of $35.51. The stock’s 50 day moving average is $6.45 and its 200 day moving average is $11.77. The company has a debt-to-equity ratio of 0.56, a current ratio of 6.14 and a quick ratio of 5.88.

Invitae (NYSE:NVTAGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The medical research company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.02). The firm had revenue of $123.70 million during the quarter, compared to analyst estimates of $129.31 million. Invitae had a negative net margin of 148.62% and a negative return on equity of 24.48%. Invitae’s revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.63) earnings per share. As a group, equities analysts predict that Invitae Co. will post -2.95 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. ARK Investment Management LLC raised its stake in shares of Invitae by 3.7% during the first quarter. ARK Investment Management LLC now owns 27,682,226 shares of the medical research company’s stock worth $220,627,000 after purchasing an additional 981,413 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Invitae by 0.4% during the first quarter. Vanguard Group Inc. now owns 19,515,586 shares of the medical research company’s stock worth $155,540,000 after purchasing an additional 69,702 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Invitae by 10.9% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,998,453 shares of the medical research company’s stock worth $290,106,000 after purchasing an additional 1,873,864 shares during the last quarter. Nikko Asset Management Americas Inc. raised its stake in shares of Invitae by 10.9% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 18,998,453 shares of the medical research company’s stock worth $292,576,000 after purchasing an additional 1,873,864 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of Invitae by 18.0% during the third quarter. Macquarie Group Ltd. now owns 7,124,665 shares of the medical research company’s stock worth $202,554,000 after purchasing an additional 1,086,200 shares during the last quarter. Institutional investors and hedge funds own 91.87% of the company’s stock.

A number of brokerages recently issued reports on NVTA. Raymond James lowered their price target on Invitae from $10.50 to $8.50 in a report on Wednesday, May 4th. SVB Leerink lowered their price target on Invitae from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, February 25th. Zacks Investment Research downgraded Invitae from a “buy” rating to a “hold” rating in a report on Friday, February 18th. The Goldman Sachs Group lowered their price target on Invitae from $14.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, April 19th. Finally, Morgan Stanley lowered their price target on Invitae from $37.00 to $18.00 and set an “equal weight” rating for the company in a report on Tuesday, February 15th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.07.

Invitae Company Profile (Get Rating)

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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