LPL Financial LLC Boosts Stake in Invitae Co. (NVTA)

LPL Financial LLC grew its stake in shares of Invitae Co. (NYSE:NVTA) by 25.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,597 shares of the medical research company’s stock after acquiring an additional 11,052 shares during the period. LPL Financial LLC owned about 0.10% of Invitae worth $496,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NVTA. Teacher Retirement System of Texas purchased a new position in shares of Invitae during the 4th quarter worth approximately $116,000. Granite Springs Asset Management LLC purchased a new stake in Invitae in the 4th quarter worth approximately $132,000. Verity Asset Management Inc. grew its stake in Invitae by 120.0% in the 4th quarter. Verity Asset Management Inc. now owns 25,186 shares of the medical research company’s stock worth $174,000 after acquiring an additional 13,740 shares during the period. OxFORD Asset Management LLP purchased a new stake in Invitae in the 3rd quarter worth approximately $180,000. Finally, Creative Planning purchased a new stake in Invitae in the 4th quarter worth approximately $459,000. Institutional investors own 71.41% of the company’s stock.

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In other news, insider Randal W. Scott acquired 44,444 shares of the business’s stock in a transaction on Monday, April 2nd. The shares were purchased at an average price of $4.50 per share, for a total transaction of $199,998.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Bros. Advisors Lp Baker acquired 1,111,111 shares of the business’s stock in a transaction on Wednesday, March 28th. The stock was purchased at an average price of $4.50 per share, for a total transaction of $4,999,999.50. The disclosure for this purchase can be found here. Insiders own 8.70% of the company’s stock.

NYSE:NVTA opened at $5.81 on Thursday. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.35. The firm has a market cap of $293.32, a P/E ratio of -2.19 and a beta of 1.06. Invitae Co. has a twelve month low of $4.35 and a twelve month high of $10.41.

Invitae (NYSE:NVTA) last posted its earnings results on Monday, February 12th. The medical research company reported ($0.78) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by ($0.17). The business had revenue of $25.40 million for the quarter, compared to analyst estimates of $24.18 million. Invitae had a negative net margin of 180.85% and a negative return on equity of 124.43%. The business’s revenue was up 175.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.69) EPS. sell-side analysts forecast that Invitae Co. will post -2.23 EPS for the current year.

Several analysts have commented on the stock. Zacks Investment Research cut shares of Invitae from a “hold” rating to a “sell” rating in a research note on Wednesday, April 11th. JPMorgan Chase lowered their target price on shares of Invitae from $13.00 to $9.00 and set an “overweight” rating for the company in a research note on Tuesday, February 13th. Benchmark lowered their target price on shares of Invitae from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 13th. Leerink Swann lowered their price objective on shares of Invitae from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. Finally, ValuEngine cut shares of Invitae from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $10.05.

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About Invitae

Invitae Corporation, a genetic information company, processes DNA-containing samples, analyzes information related to patient-specific genetic variation, and generates test reports for clinicians and their patients in the United States, Canada, and internationally. The company's tests include multiple genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; proactive health and wellness screening; and preimplantation embryo testing and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.

Institutional Ownership by Quarter for Invitae (NYSE:NVTA)

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