StockNews.com Initiates Coverage on Invitae (NYSE:NVTA)

Equities researchers at StockNews.com started coverage on shares of Invitae (NYSE:NVTA) in a report issued on Thursday. The firm set a “hold” rating on the medical research company’s stock.

Invitae Price Performance

NVTA opened at $0.00 on Thursday. Invitae has a 12 month low of $0.02 and a 12 month high of $0.02. The stock has a market capitalization of $186,907.00, a price-to-earnings ratio of 0.00 and a beta of 1.59.

Hedge Funds Weigh In On Invitae

Hedge funds have recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. raised its stake in shares of Invitae by 1,799.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 73,929 shares of the medical research company’s stock valued at $45,000 after acquiring an additional 70,037 shares during the period. SG Americas Securities LLC lifted its stake in shares of Invitae by 90.7% during the fourth quarter. SG Americas Securities LLC now owns 91,937 shares of the medical research company’s stock worth $58,000 after purchasing an additional 43,717 shares in the last quarter. Prosperity Wealth Management Inc. purchased a new stake in shares of Invitae in the fourth quarter worth about $144,000. Green Alpha Advisors LLC grew its stake in shares of Invitae by 138.4% in the fourth quarter. Green Alpha Advisors LLC now owns 452,585 shares of the medical research company’s stock valued at $284,000 after buying an additional 262,760 shares in the last quarter. Finally, Bourne Lent Asset Management Inc. raised its holdings in shares of Invitae by 53.3% during the 4th quarter. Bourne Lent Asset Management Inc. now owns 574,600 shares of the medical research company’s stock valued at $360,000 after buying an additional 199,900 shares during the period. Institutional investors and hedge funds own 61.28% of the company’s stock.

About Invitae

Invitae Corporation, a medical genetics company, that provides genetic information to improve healthcare of people in the United States, Canada, and internationally. The company offers genetic tests in various clinical areas, including hereditary cancer, precision oncology, women's health, rare diseases, and pharmacogenomics; digital health solutions; and health data services.