Cibc World Market Inc. Boosts Stake in Invitae Co. (NYSE:NVTA)

Cibc World Market Inc. lifted its stake in Invitae Co. (NYSE:NVTAGet Rating) by 249.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,571 shares of the medical research company’s stock after purchasing an additional 133,945 shares during the period. Cibc World Market Inc. owned 0.08% of Invitae worth $458,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Alyeska Investment Group L.P. bought a new position in Invitae in the 1st quarter worth $8,369,000. Renaissance Technologies LLC bought a new position in Invitae in the 1st quarter worth $8,279,000. State of Michigan Retirement System boosted its holdings in Invitae by 1,190.3% in the 2nd quarter. State of Michigan Retirement System now owns 1,095,950 shares of the medical research company’s stock worth $2,674,000 after buying an additional 1,011,011 shares during the period. ARK Investment Management LLC boosted its holdings 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 buying an additional 986,724 shares during the period. Finally, Walleye Capital LLC boosted its holdings in Invitae by 695.9% in the 2nd quarter. Walleye Capital LLC now owns 708,886 shares of the medical research company’s stock worth $1,730,000 after buying an additional 619,822 shares during the period. 88.27% of the stock is currently owned by hedge funds and other institutional investors.

Invitae Price Performance

Shares of NYSE NVTA opened at $2.57 on Wednesday. The firm’s 50-day moving average price is $2.61 and its 200-day moving average price is $2.93. The company has a debt-to-equity ratio of 10.03, a quick ratio of 6.18 and a current ratio of 6.44. Invitae Co. has a 12-month low of $1.83 and a 12-month high of $18.56.

Invitae (NYSE:NVTAGet Rating) last announced its earnings results on Tuesday, November 8th. The medical research company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.17. The firm had revenue of $133.54 million for the quarter, compared to analysts’ expectations of $132.80 million. Invitae had a negative net margin of 617.65% and a negative return on equity of 39.04%. On average, equities research analysts expect that Invitae Co. will post -2.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. StockNews.com raised shares of Invitae to a “sell” rating in a report on Friday, November 18th. William Blair reissued a “market perform” rating on shares of Invitae in a report on Tuesday, November 8th. Cowen downgraded shares of Invitae from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 26th. Cowen increased their price objective on shares of Invitae to $2.80 in a report on Tuesday, November 15th. Finally, SVB Leerink increased their price objective on shares of Invitae from $2.50 to $3.00 and gave the company a “market perform” rating in a report on Wednesday, November 9th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.04.

Invitae Company Profile

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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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Institutional Ownership by Quarter for Invitae (NYSE:NVTA)

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