Cetera Advisor Networks LLC Buys 16,100 Shares of InVitae Corp (NYSE:NVTA)

Cetera Advisor Networks LLC increased its stake in InVitae Corp (NYSE:NVTA) by 68.7% during the third quarter, Holdings Channel reports. The firm owned 39,525 shares of the medical research company’s stock after acquiring an additional 16,100 shares during the period. Cetera Advisor Networks LLC’s holdings in InVitae were worth $781,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NVTA. Sumitomo Mitsui Trust Holdings Inc. grew its position in InVitae by 385.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,317,840 shares of the medical research company’s stock valued at $124,969,000 after acquiring an additional 4,222,987 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its stake in shares of InVitae by 378.1% during the second quarter. Nikko Asset Management Americas Inc. now owns 5,332,788 shares of the medical research company’s stock valued at $125,321,000 after purchasing an additional 4,217,463 shares in the last quarter. BlackRock Inc. boosted its stake in shares of InVitae by 19.3% during the second quarter. BlackRock Inc. now owns 6,397,193 shares of the medical research company’s stock valued at $150,335,000 after purchasing an additional 1,037,130 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of InVitae during the second quarter valued at about $23,901,000. Finally, Victory Capital Management Inc. boosted its stake in shares of InVitae by 61.1% during the second quarter. Victory Capital Management Inc. now owns 1,928,655 shares of the medical research company’s stock valued at $45,323,000 after purchasing an additional 731,720 shares in the last quarter. Institutional investors own 91.37% of the company’s stock.

NVTA has been the topic of a number of recent analyst reports. Zacks Investment Research lowered InVitae from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Chardan Capital set a $32.00 price objective on InVitae and gave the stock a “buy” rating in a research note on Sunday, August 25th. Oppenheimer set a $34.00 price objective on InVitae and gave the stock a “buy” rating in a research note on Wednesday, August 7th. ValuEngine raised InVitae from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, Leerink Swann set a $31.00 price objective on InVitae and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $27.83.

InVitae stock opened at $18.72 on Monday. The stock’s 50 day moving average is $17.71 and its 200 day moving average is $21.09. The company has a debt-to-equity ratio of 0.77, a current ratio of 7.38 and a quick ratio of 7.38. The firm has a market cap of $1.68 billion, a P/E ratio of -9.65 and a beta of 2.47. InVitae Corp has a one year low of $9.04 and a one year high of $28.75.

InVitae (NYSE:NVTA) last posted its quarterly earnings data on Wednesday, November 6th. The medical research company reported ($0.69) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.52) by ($0.17). The company had revenue of $56.51 million during the quarter, compared to analyst estimates of $55.00 million. InVitae had a negative return on equity of 58.90% and a negative net margin of 99.49%. Equities analysts anticipate that InVitae Corp will post -2.44 earnings per share for the current fiscal year.

In other InVitae news, Director Geoffrey Crouse sold 5,000 shares of InVitae stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $25.68, for a total value of $128,400.00. Following the completion of the sale, the director now directly owns 29,259 shares in the company, valued at $751,371.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Katherine Stueland sold 3,788 shares of InVitae stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $21.40, for a total value of $81,063.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,576 shares of company stock valued at $1,259,202. 5.70% of the stock is currently owned by corporate insiders.

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. Its tests include genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; and screening and testing services in reproductive health, including preimplantation and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.

Recommended Story: What is the formula for the cash asset ratio?

Want to see what other hedge funds are holding NVTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for InVitae Corp (NYSE:NVTA).

Institutional Ownership by Quarter for InVitae (NYSE:NVTA)

Receive News & Ratings for InVitae Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InVitae and related companies with MarketBeat.com's FREE daily email newsletter.