Teton Advisors Inc. Cuts Stock Holdings in InVitae Corp (NYSE:NVTA)

Teton Advisors Inc. decreased its position in shares of InVitae Corp (NYSE:NVTA) by 7.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,000 shares of the medical research company’s stock after selling 5,000 shares during the quarter. Teton Advisors Inc.’s holdings in InVitae were worth $1,410,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Perkins Capital Management Inc. purchased a new stake in InVitae in the first quarter worth approximately $939,000. Two Sigma Advisers LP purchased a new stake in InVitae in the fourth quarter worth approximately $226,000. Dimensional Fund Advisors LP purchased a new stake in InVitae in the fourth quarter worth approximately $319,000. Pennsylvania Trust Co purchased a new stake in InVitae in the first quarter worth approximately $8,545,000. Finally, Bank of Montreal Can boosted its holdings in InVitae by 377.9% in the first quarter. Bank of Montreal Can now owns 77,810 shares of the medical research company’s stock worth $1,823,000 after purchasing an additional 61,528 shares during the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Several brokerages recently issued reports on NVTA. Leerink Swann set a $31.00 target price on shares of InVitae and gave the stock a “buy” rating in a report on Wednesday, August 7th. Chardan Capital restated a “buy” rating and issued a $30.00 target price on shares of InVitae in a report on Tuesday, June 11th. Zacks Investment Research cut shares of InVitae from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Benchmark reiterated a “buy” rating and set a $28.00 price target (up previously from $26.00) on shares of InVitae in a research note on Wednesday, August 7th. Finally, Oppenheimer set a $34.00 price target on shares of InVitae and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. InVitae has a consensus rating of “Buy” and a consensus target price of $28.17.

In other news, insider Katherine Stueland sold 3,789 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $22.49, for a total transaction of $85,214.61. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Randal W. Scott sold 30,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $17.60, for a total transaction of $528,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 37,578 shares of company stock worth $686,570 in the last quarter. Corporate insiders own 5.70% of the company’s stock.

Shares of InVitae stock traded up $0.90 on Monday, hitting $26.07. 19,575 shares of the company’s stock were exchanged, compared to its average volume of 2,443,589. The company has a 50-day simple moving average of $24.61 and a 200-day simple moving average of $21.52. The stock has a market capitalization of $2.34 billion, a PE ratio of -13.04 and a beta of 2.53. InVitae Corp has a 1 year low of $9.04 and a 1 year high of $28.75. The company has a debt-to-equity ratio of 0.36, a quick ratio of 7.18 and a current ratio of 7.18.

InVitae (NYSE:NVTA) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported ($0.54) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.06). The business had revenue of $53.48 million for the quarter, compared to analysts’ expectations of $50.17 million. InVitae had a negative return on equity of 58.48% and a negative net margin of 83.69%. The company’s revenue was up 43.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.47) EPS. On average, analysts expect that InVitae Corp will post -2.11 EPS for the current fiscal year.

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. 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.

Featured Article: Moving Average – How it Helps Investors in Stock Selection

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.