Northern Trust Corp Buys 269,798 Shares of InVitae Corp (NVTA)
Northern Trust Corp raised its stake in shares of InVitae Corp (NYSE:NVTA) by 57.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 737,440 shares of the medical research company’s stock after buying an additional 269,798 shares during the period. Northern Trust Corp owned about 1.07% of InVitae worth $5,420,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVTA. Bank of Montreal Can purchased a new position in shares of InVitae in the 2nd quarter valued at about $155,000. Metropolitan Life Insurance Co. NY increased its stake in shares of InVitae by 67.5% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 22,273 shares of the medical research company’s stock valued at $164,000 after purchasing an additional 8,979 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of InVitae by 44.2% in the 2nd quarter. Voya Investment Management LLC now owns 24,424 shares of the medical research company’s stock valued at $180,000 after purchasing an additional 7,488 shares in the last quarter. MetLife Investment Advisors LLC increased its stake in shares of InVitae by 97.2% in the 2nd quarter. MetLife Investment Advisors LLC now owns 31,538 shares of the medical research company’s stock valued at $232,000 after purchasing an additional 15,543 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in InVitae in the 1st quarter worth about $247,000. Institutional investors and hedge funds own 75.45% of the company’s stock.
NVTA stock opened at $12.78 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.90 and a current ratio of 3.90. InVitae Corp has a 12-month low of $4.35 and a 12-month high of $18.38. The stock has a market capitalization of $987.93 million, a P/E ratio of -4.82 and a beta of 1.84.
NVTA has been the topic of several research analyst reports. ValuEngine upgraded InVitae from a “hold” rating to a “buy” rating in a report on Thursday, August 9th. Zacks Investment Research upgraded InVitae from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Tuesday, August 14th. William Blair reiterated a “market perform” rating on shares of InVitae in a report on Thursday, November 8th. Finally, JPMorgan Chase & Co. lifted their price objective on InVitae to $16.00 and gave the stock an “overweight” rating in a report on Thursday, November 8th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $12.40.
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InVitae Company Profile
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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