The Vanguard Group, Inc. recently announced the acquisition of new stake in Invitae Corp (NYSE:NVTA). The institutional investor has increased its shareholding in the Healthcare company by 2.69% to 13.04 million shares with purchase of 0.34 million shares. This fresh investment now brings its stake to 4.55% valued currently at $8.18 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.39 million to 7.96 million shares. And Geode Capital Management LLC has lifted its position by 6.49% or 0.31 million shares – to 5.12 million shares.
Currently, there are 286.49M common shares owned by the public and among those 277.78M shares have been available to trade.
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Insiders at the company have transacted a total of 32 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 5,435,482 shares. Insider sales of the common stock occurred on 14 occasions, with total insider shares sold totaling 265,548 shares.
The top 3 mutual fund holders in Invitae Corp are ARK Innovation ETF, Nikko AM Global Umbrella Fund – A, and ARK Genomic Revolution ETF. ARK Innovation ETF owns 18.99 million shares of the company’s stock, all valued at over $11.9 million. The company sold 87936.0 shares recently to bring their total holdings to about 6.63% of the shares outstanding. Nikko AM Global Umbrella Fund – A sold -0.21 million shares to see its total holdings shrink to 11.25 million shares valued at over $7.06 million and representing 3.93% of the shares outstanding. ARK Genomic Revolution ETF sold 14382.0 shares to bring its total holdings to over 9.78 million shares at a value of $6.13 million. ARK Genomic Revolution ETF now owns shares totaling to 3.41% of the shares outstanding.
However, the script later moved the day high at 0.4541, down -4.67%. The company’s stock has a 5-day price change of -16.00% and -29.11% over the past three months. NVTA shares are trading -31.56% year to date (YTD), with the 12-month market performance down to -83.37% lower. It has a 12-month low price of $0.36 and touched a high of $2.93 over the same period. NVTA has an average intraday trading volume of 7.45 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -26.86%, -25.25%, and -54.29% respectively.
Institutional ownership of Invitae Corp (NYSE: NVTA) shares accounts for 52.99% of the company’s 286.49M shares outstanding. Mutual fund holders own 30.22%, while other institutional holders and individual stakeholders account for 9.17% and 16.79% respectively.
It has a market capitalization of $122.90M and a beta (3y monthly) value of 1.61. The earnings-per-share (ttm) stands at -$5.38. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.80% over the week and 9.83% over the month.
Analysts forecast that Invitae Corp (NVTA) will achieve an EPS of -$0.26 for the current quarter, -$0.24 for the next quarter and -$0.89 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.34 while analysts give the company a high EPS estimate of -$0.18. Comparatively, EPS for the current quarter was -$0.34 a year ago. Earnings per share for the fiscal year are expected to increase by 53.73%, and 12.90% over the next financial year. EPS should grow at an annualized rate of 8.00% over the next five years, compared to -37.83% over the past 5-year period.
