SG Americas Securities LLC Sells 123,667 Shares of Invitae Co. (NYSE:NVTA)

SG Americas Securities LLC trimmed its stake in Invitae Co. (NYSE:NVTA – Get Rating) by 89.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,964 shares of the medical research company’s stock after selling 123,667 shares during the period. SG Americas Securities LLC’s holdings in Invitae were worth $28,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Private Advisor Group LLC lifted its stake in Invitae by 9.7% during the 1st quarter. Private Advisor Group LLC now owns 32,282 shares of the medical research company’s stock valued at $258,000 after acquiring an additional 2,845 shares during the period. FMR LLC lifted its holdings in Invitae by 2.9% in the second quarter. FMR LLC now owns 112,499 shares of the medical research company’s stock valued at $275,000 after acquiring an additional 3,175 shares during the period. Financial Advocates Investment Management acquired a new position in shares of Invitae in the 3rd quarter valued at $206,000. Envestnet Asset Management Inc. grew its position in Invitae by 6.2% during the third quarter. Envestnet Asset Management Inc. now owns 75,269 shares of the medical research company’s stock valued at $185,000 after buying an additional 4,386 shares during the period. Finally, Aviva PLC grew its position in shares of Invitae by 22.9% during the 1st quarter. Aviva PLC now owns 26,594 shares of the medical research company’s stock valued at $212,000 after acquiring an additional 4,954 shares during the period. Institutional investors own 76.79% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on NVTA shares. Raymond James downgraded Invitae from a “market perform” rating to an “underperform” rating in a research note on Monday. StockNews.com began coverage on shares of Invitae in a research note on Thursday. They set a “sell” rating on the stock. The Goldman Sachs Group lowered shares of Invitae from a “neutral” rating to a “sell” rating and set a $2.00 price target on the stock. in a research report on Tuesday, January 31st. Finally, Piper Sandler decreased their target price on shares of Invitae from $1.75 to $1.50 in a research note on Monday. Six investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $3.88.

Insider Buying and Selling

In related news, CAO Robert F. Werner sold 21,559 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $1.20, for a total value of $25,870.80. Following the transaction, the chief accounting officer now directly owns 354,748 shares of the company’s stock, valued at approximately $425,697.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Invitae news, CEO Kenneth D. Knight sold 45,432 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $1.20, for a total transaction of $54,518.40. Following the completion of the transaction, the chief executive officer now owns 1,671,610 shares in the company, valued at approximately $2,005,932. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Robert F. Werner sold 21,559 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $1.20, for a total value of $25,870.80. Following the completion of the sale, the chief accounting officer now directly owns 354,748 shares of the company’s stock, valued at $425,697.60. The disclosure for this sale can be found here. Insiders sold a total of 136,919 shares of company stock worth $198,630 over the last 90 days. 1.10% of the stock is owned by insiders.

Invitae Stock Down 2.6 %

Shares of NYSE:NVTA opened at $1.14 on Friday. The firm has a market capitalization of $297.16 million, a PE ratio of -0.09 and a beta of 1.77. Invitae Co. has a 1 year low of $1.05 and a 1 year high of $9.00. The company has a debt-to-equity ratio of 15.68, a current ratio of 2.65 and a quick ratio of 2.55. The firm’s 50-day moving average is $1.34 and its two-hundred day moving average is $1.99.

Invitae (NYSE:NVTA – Get Rating) last posted its quarterly earnings results on Tuesday, May 9th. The medical research company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.04. The company had revenue of $117.36 million for the quarter, compared to analyst estimates of $116.57 million. Invitae had a negative return on equity of 285.28% and a negative net margin of 611.14%. Invitae’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.78) EPS. Analysts predict that Invitae Co. will post -1.49 EPS for the current year.

About Invitae

(Get Rating)

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.