Insider Selling: Invitae Co. (NYSE:NVTA) COO Sells $182,911.00 in Stock

Invitae Co. (NYSE:NVTA) COO Kenneth D. Knight sold 3,622 shares of the business’s stock in a transaction dated Thursday, December 24th. The shares were sold at an average price of $50.50, for a total transaction of $182,911.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Kenneth D. Knight also recently made the following trade(s):

  • On Wednesday, December 16th, Kenneth D. Knight sold 13,351 shares of Invitae stock. The shares were sold at an average price of $51.00, for a total value of $680,901.00.

NVTA stock opened at $41.81 on Friday. The business’s 50-day simple moving average is $49.34 and its 200 day simple moving average is $39.15. The company has a market cap of $7.39 billion, a PE ratio of -10.75 and a beta of 2.16. Invitae Co. has a twelve month low of $7.41 and a twelve month high of $61.59. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.68.

Invitae (NYSE:NVTA) last released its quarterly earnings results on Thursday, November 5th. The medical research company reported ($0.78) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.18). Invitae had a negative net margin of 183.50% and a negative return on equity of 81.19%. The business had revenue of $68.73 million during the quarter, compared to the consensus estimate of $59.36 million. During the same period in the prior year, the firm earned ($0.82) earnings per share. The business’s quarterly revenue was up 21.6% compared to the same quarter last year. On average, equities research analysts anticipate that Invitae Co. will post -2.6 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVTA. Flagship Harbor Advisors LLC grew its stake in Invitae by 100.0% in the third quarter. Flagship Harbor Advisors LLC now owns 600 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 300 shares in the last quarter. Atticus Wealth Management LLC acquired a new stake in Invitae during the 3rd quarter worth approximately $35,000. Captrust Financial Advisors acquired a new stake in Invitae in the 2nd quarter worth about $30,000. Atlas Private Wealth Advisors acquired a new stake in Invitae during the third quarter worth approximately $43,000. Finally, Lee Financial Co bought a new position in shares of Invitae in the third quarter worth $68,000. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

NVTA has been the subject of a number of recent research reports. BidaskClub downgraded shares of Invitae from a “buy” rating to a “hold” rating in a research note on Wednesday, December 16th. SVB Leerink lifted their target price on Invitae from $34.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, November 3rd. Oppenheimer lifted their price target on Invitae from $37.00 to $48.00 in a research note on Monday, October 5th. JPMorgan Chase & Co. downgraded Invitae from an “overweight” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research report on Wednesday, October 14th. Finally, Morgan Stanley boosted their price objective on shares of Invitae from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Friday, November 6th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Invitae presently has a consensus rating of “Hold” and an average price target of $40.16.

About Invitae

Invitae Corporation, a medical genetics 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. It offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, metabolic conditions, and rare diseases; prenatal and perinatal genetic tests; and non-invasive prenatal screening products.

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Insider Buying and Selling by Quarter for Invitae (NYSE:NVTA)

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