Highbridge Capital Management LLC Takes Position in InVitae Corp (NVTA)
Highbridge Capital Management LLC acquired a new position in InVitae Corp (NASDAQ:NVTA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 27,252 shares of the medical research company’s stock, valued at approximately $302,000. Highbridge Capital Management LLC owned approximately 0.06% of InVitae Corp at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of NVTA. Schwab Charles Investment Management Inc. increased its position in shares of InVitae Corp by 27.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 104,994 shares of the medical research company’s stock worth $1,162,000 after buying an additional 22,301 shares during the period. Renaissance Technologies LLC increased its position in shares of InVitae Corp by 73.6% in the first quarter. Renaissance Technologies LLC now owns 192,200 shares of the medical research company’s stock worth $2,126,000 after buying an additional 81,500 shares during the period. Geode Capital Management LLC increased its position in shares of InVitae Corp by 9.3% in the first quarter. Geode Capital Management LLC now owns 249,737 shares of the medical research company’s stock worth $2,761,000 after buying an additional 21,267 shares during the period. Vanguard Group Inc. increased its position in shares of InVitae Corp by 9.8% in the first quarter. Vanguard Group Inc. now owns 1,206,266 shares of the medical research company’s stock worth $13,341,000 after buying an additional 107,775 shares during the period. Finally, Verity Asset Management Inc. purchased a new position in shares of InVitae Corp during the first quarter worth $116,000.
InVitae Corp (NASDAQ NVTA) traded up 1.87% during mid-day trading on Friday, hitting $10.34. 649,330 shares of the stock traded hands. The firm’s 50-day moving average is $9.49 and its 200-day moving average is $9.75. InVitae Corp has a 12-month low of $5.76 and a 12-month high of $11.88. The company’s market cap is $437.53 million.
InVitae Corp (NASDAQ:NVTA) last issued its quarterly earnings results on Tuesday, May 9th. The medical research company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.04. The business had revenue of $10.34 million during the quarter, compared to the consensus estimate of $10.90 million. InVitae Corp had a negative net margin of 260.48% and a negative return on equity of 119.10%. The company’s quarterly revenue was up 161.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.80) earnings per share. Equities research analysts expect that InVitae Corp will post ($2.39) EPS for the current year.
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A number of brokerages have weighed in on NVTA. BidaskClub upgraded shares of InVitae Corp from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research cut shares of InVitae Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Finally, ValuEngine raised shares of InVitae Corp from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Three analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $12.69.
About InVitae Corp
Invitae Corporation 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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