InVitae Corp (NVTA) Major Shareholder Bros. Advisors Lp Baker Purchases 733,333 Shares of Stock
InVitae Corp (NASDAQ:NVTA) major shareholder Bros. Advisors Lp Baker bought 733,333 shares of the firm’s stock in a transaction on Thursday, November 17th. The stock was acquired at an average cost of $6.00 per share, for a total transaction of $4,399,998.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
InVitae Corp (NASDAQ:NVTA) traded up 9.24% on Monday, reaching $6.62. 372,546 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $7.72 and its 200 day moving average price is $8.30. InVitae Corp has a 1-year low of $5.66 and a 1-year high of $11.85. The firm’s market capitalization is $214.79 million.
InVitae Corp (NASDAQ:NVTA) last released its quarterly earnings results on Monday, November 7th. The company reported ($0.77) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.72) by $0.05. The company had revenue of $6.30 million for the quarter, compared to analyst estimates of $7.50 million. The company’s quarterly revenue was up 186.4% on a year-over-year basis. During the same period last year, the firm posted ($0.71) earnings per share. On average, analysts expect that InVitae Corp will post ($3.02) earnings per share for the current year.
A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of InVitae Corp from a “buy” rating to a “hold” rating in a report on Saturday. Leerink Swann began coverage on shares of InVitae Corp in a report on Thursday, November 10th. They issued an “outperform” rating and a $12.00 target price for the company. Benchmark Co. reissued a “neutral” rating on shares of InVitae Corp in a research report on Tuesday, November 8th. TheStreet cut shares of InVitae Corp from a “hold” rating to a “sell” rating in a research report on Thursday, September 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of InVitae Corp from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $10.81.
A number of large investors have recently added to or reduced their stakes in the stock. Baker BROS. Advisors LP purchased a new stake in InVitae Corp during the third quarter worth $57,422,000. BlackRock Fund Advisors raised its stake in InVitae Corp by 210.4% in the second quarter. BlackRock Fund Advisors now owns 583,714 shares of the company’s stock worth $4,314,000 after buying an additional 395,679 shares during the last quarter. State Street Corp raised its stake in InVitae Corp by 287.8% in the second quarter. State Street Corp now owns 272,171 shares of the company’s stock worth $2,010,000 after buying an additional 201,995 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in InVitae Corp by 59.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 315,984 shares of the company’s stock worth $2,335,000 after buying an additional 117,212 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new stake in InVitae Corp during the second quarter worth $565,000.
About InVitae Corp
Invitae Corporation (Invitae) 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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