InVitae Corp (NVTA) Position Lessened by Bard Associates Inc.
Bard Associates Inc. reduced its position in shares of InVitae Corp (NYSE:NVTA) by 8.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 63,988 shares of the medical research company’s stock after selling 6,060 shares during the period. Bard Associates Inc.’s holdings in InVitae were worth $470,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Spark Investment Management LLC bought a new stake in shares of InVitae during the 1st quarter worth $112,000. Bank of Montreal Can bought a new stake in shares of InVitae during the 2nd quarter worth $155,000. Metropolitan Life Insurance Co. NY boosted its holdings in shares of InVitae by 67.5% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 22,273 shares of the medical research company’s stock worth $164,000 after buying an additional 8,979 shares during the period. Voya Investment Management LLC boosted its holdings in shares of InVitae by 44.2% during the 2nd quarter. Voya Investment Management LLC now owns 24,424 shares of the medical research company’s stock worth $180,000 after buying an additional 7,488 shares during the period. Finally, MetLife Investment Advisors LLC boosted its holdings in shares of InVitae by 97.2% during the 2nd quarter. MetLife Investment Advisors LLC now owns 31,538 shares of the medical research company’s stock worth $232,000 after buying an additional 15,543 shares during the period. 73.65% of the stock is owned by institutional investors and hedge funds.
Several analysts recently issued reports on NVTA shares. ValuEngine raised shares of InVitae from a “hold” rating to a “buy” rating in a report on Thursday, August 9th. Zacks Investment Research raised shares of InVitae from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Tuesday, August 14th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the stock. InVitae currently has an average rating of “Buy” and a consensus price target of $11.00.
InVitae (NYSE:NVTA) last released its earnings results on Tuesday, August 7th. The medical research company reported ($0.47) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.54) by $0.07. The firm had revenue of $37.31 million during the quarter, compared to analysts’ expectations of $30.70 million. InVitae had a negative net margin of 125.03% and a negative return on equity of 111.27%. analysts forecast that InVitae Corp will post -2.02 earnings per share for the current fiscal year.
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.
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