Pacer Advisors Inc. Takes $61,000 Position in Invitae Co. (NYSE:NVTA)

Pacer Advisors Inc. acquired a new stake in shares of Invitae Co. (NYSE:NVTAGet Rating) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,976 shares of the medical research company’s stock, valued at approximately $61,000.

Several other institutional investors also recently added to or reduced their stakes in NVTA. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Invitae by 15.5% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,975 shares of the medical research company’s stock valued at $85,000 after purchasing an additional 400 shares in the last quarter. Montag A & Associates Inc. grew its holdings in shares of Invitae by 32.1% in the third quarter. Montag A & Associates Inc. now owns 1,803 shares of the medical research company’s stock valued at $51,000 after purchasing an additional 438 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of Invitae by 6.7% in the third quarter. Gabelli Funds LLC now owns 8,000 shares of the medical research company’s stock valued at $227,000 after purchasing an additional 500 shares in the last quarter. Regal Investment Advisors LLC grew its holdings in shares of Invitae by 5.0% in the third quarter. Regal Investment Advisors LLC now owns 13,071 shares of the medical research company’s stock valued at $372,000 after purchasing an additional 626 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Invitae by 1.0% in the third quarter. State Board of Administration of Florida Retirement System now owns 65,179 shares of the medical research company’s stock valued at $1,853,000 after purchasing an additional 630 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Shares of NVTA opened at $5.37 on Friday. The firm has a market capitalization of $1.22 billion, a P/E ratio of -1.78 and a beta of 1.76. Invitae Co. has a 12-month low of $5.28 and a 12-month high of $38.42. The company has a current ratio of 8.18, a quick ratio of 7.95 and a debt-to-equity ratio of 0.53. The firm has a fifty day moving average price of $8.13 and a 200-day moving average price of $14.39.

Invitae (NYSE:NVTAGet Rating) last issued its earnings results on Thursday, February 24th. The medical research company reported ($0.81) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.74) by ($0.07). The company had revenue of $126.12 million for the quarter, compared to analysts’ expectations of $125.90 million. Invitae had a negative net margin of 139.38% and a negative return on equity of 23.52%. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.63) earnings per share. Analysts predict that Invitae Co. will post -2.97 earnings per share for the current year.

Several research firms have commented on NVTA. The Goldman Sachs Group dropped their price objective on shares of Invitae from $14.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday. Morgan Stanley dropped their price objective on shares of Invitae from $37.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 15th. SVB Leerink dropped their price objective on shares of Invitae from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, February 25th. Zacks Investment Research lowered shares of Invitae from a “buy” rating to a “hold” rating in a research note on Friday, February 18th. Finally, Raymond James dropped their price objective on shares of Invitae from $15.00 to $10.50 and set an “outperform” rating for the company in a research note on Monday, April 18th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.36.

In related news, General Counsel Thomas Brida sold 17,987 shares of Invitae stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $6.69, for a total value of $120,333.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sean E. George sold 31,389 shares of Invitae stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $6.69, for a total value of $209,992.41. The disclosure for this sale can be found here. Insiders have sold 74,611 shares of company stock valued at $499,148 over the last three months. Insiders own 1.90% of the company’s stock.

About Invitae (Get Rating)

Invitae Corporation, a medical genetics company, integrates genetic information into mainstream medicine to improve healthcare of people in the United States, Canada, and internationally. The company offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, oncology, metabolic conditions, and rare diseases; digital health solutions; and health data services.

Further Reading

Institutional Ownership by Quarter for Invitae (NYSE:NVTA)

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