InVitae Corp (NVTA) Chairman Randal W. Scott Purchases 66,666 Shares
InVitae Corp (NASDAQ:NVTA) Chairman Randal W. Scott purchased 66,666 shares of InVitae Corp stock in a transaction that occurred on Tuesday, November 22nd. The stock was acquired at an average price of $6.00 per share, with a total value of $399,996.00. Following the transaction, the chairman now owns 3,506,225 shares in the company, valued at $21,037,350. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of InVitae Corp (NASDAQ:NVTA) traded up 1.91% during trading on Tuesday, reaching $6.95. 948,492 shares of the company’s stock were exchanged. InVitae Corp has a 52 week low of $5.66 and a 52 week high of $11.85. The stock’s market capitalization is $225.49 million. The company’s 50-day moving average is $7.63 and its 200 day moving average is $8.25.
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 analysts’ consensus estimates of ($0.72) by $0.05. The firm had revenue of $6.30 million for the quarter, compared to analyst estimates of $7.50 million. During the same period in the prior year, the firm earned ($0.71) earnings per share. The company’s quarterly revenue was up 186.4% on a year-over-year basis. On average, analysts forecast that InVitae Corp will post ($3.02) earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in InVitae Corp during the third quarter worth $105,000. Credit Suisse AG increased its stake in InVitae Corp by 17.2% in the third quarter. Credit Suisse AG now owns 12,528 shares of the company’s stock worth $110,000 after buying an additional 1,839 shares during the last quarter. Rhumbline Advisers bought a new stake in InVitae Corp during the second quarter worth $122,000. Metropolitan Life Insurance Co. NY bought a new stake in InVitae Corp during the second quarter worth $142,000. Finally, The Manufacturers Life Insurance Company bought a new stake in InVitae Corp during the third quarter worth $152,000.
Several analysts recently commented on the stock. Zacks Investment Research downgraded shares of InVitae Corp from a “buy” rating to a “hold” rating in a research report on Saturday. Leerink Swann initiated coverage on shares of InVitae Corp in a research report on Thursday, November 10th. They set an “outperform” rating and a $12.00 price objective for the company. Benchmark Co. restated a “neutral” rating on shares of InVitae Corp in a research report on Tuesday, November 8th. TheStreet downgraded shares of InVitae Corp from a “hold” rating to a “sell” rating in a research report on Thursday, September 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of InVitae Corp from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.81.
InVitae Corp Company Profile
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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