Cibc World Market Inc. Raises Stock Position in Invitae Co. (NYSE:NVTA)

Cibc World Market Inc. lifted its stake in shares of Invitae Co. (NYSE:NVTAGet Rating) by 249.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 187,571 shares of the medical research company’s stock after acquiring an additional 133,945 shares during the quarter. Cibc World Market Inc.’s holdings in Invitae were worth $458,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. MQS Management LLC bought a new position in shares of Invitae during the second quarter valued at approximately $28,000. Tarbox Family Office Inc. boosted its stake in shares of Invitae by 5,962.0% during the second quarter. Tarbox Family Office Inc. now owns 12,427 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 12,222 shares in the last quarter. Xponance Inc. bought a new position in shares of Invitae during the second quarter valued at approximately $30,000. Oppenheimer & Co. Inc. bought a new position in shares of Invitae during the second quarter valued at approximately $30,000. Finally, Operose Advisors LLC acquired a new stake in Invitae in the first quarter valued at approximately $32,000. 88.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Cowen downgraded shares of Invitae from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 26th. StockNews.com upgraded shares of Invitae to a “sell” rating in a research note on Friday, November 18th. William Blair reiterated a “market perform” rating on shares of Invitae in a research note on Tuesday, November 8th. SVB Leerink lifted their price objective on shares of Invitae from $2.50 to $3.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 9th. Finally, Cowen raised their target price on shares of Invitae to $2.80 in a report on Tuesday, November 15th. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat.com, Invitae currently has an average rating of “Hold” and a consensus target price of $8.04.

Invitae Stock Performance

NVTA stock opened at $2.57 on Wednesday. The firm has a 50-day simple moving average of $2.61 and a 200-day simple moving average of $2.93. The company has a debt-to-equity ratio of 10.03, a current ratio of 6.44 and a quick ratio of 6.18. Invitae Co. has a 52 week low of $1.83 and a 52 week high of $18.56.

Invitae (NYSE:NVTAGet Rating) last released its earnings results on Tuesday, November 8th. The medical research company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.17. The business had revenue of $133.54 million during the quarter, compared to analysts’ expectations of $132.80 million. Invitae had a negative net margin of 617.65% and a negative return on equity of 39.04%. On average, analysts predict that Invitae Co. will post -2.43 EPS for the current year.

Invitae Company Profile

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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.

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Institutional Ownership by Quarter for Invitae (NYSE:NVTA)

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