Fintel reports that BlackRock Inc. has filed a 13G form with the SEC disclosing ownership of 21.77MM shares of Invitae Corp (NVTA). This represents 9.0% of the company.
In their previous filing dated February 3, 2022 they reported 17.48MM shares and 7.70% of the company, an increase in shares of 24.50% and an increase in total ownership of 1.30% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 10.21% Upside
As of January 25, 2023, the average one-year price target for Invitae is $2.90. The forecasts range from a low of $1.01 to a high of $4.20. The average price target represents an increase of 10.21% from its latest reported closing price of $2.63.
The projected annual revenue for Invitae is $528MM, an increase of 1.50%. The projected annual EPS is $-1.64.
Fund Sentiment
There are 458 funds or institutions reporting positions in Invitae Corp. This is a decrease of 50 owner(s) or 9.84%.
Average portfolio weight of all funds dedicated to Invitae Corp is 0.0521%, a decrease of 4.0201%. Total shares owned by institutions decreased in the last three months by 9.10% to 219,861,466 shares.
What are large shareholders doing?
ARK Investment Management LLC holds 27,072,844 shares representing 11.15% ownership of the company. In it's prior filing, the firm reported owning 30,468,381 shares, representing a decrease of 12.54%. The firm decreased its portfolio allocation in NVTA by 16.47% over the last quarter.
Nikko Asset Management Americas, Inc. holds 17,275,351 shares representing 7.11% ownership of the company. In it's prior filing, the firm reported owning 17,517,033 shares, representing a decrease of 1.40%. The firm increased its portfolio allocation in NVTA by 3.81% over the last quarter.
Sumitomo Mitsui Trust Holdings, Inc. holds 17,275,351 shares representing 7.11% ownership of the company. In it's prior filing, the firm reported owning 17,517,033 shares, representing a decrease of 1.40%. The firm increased its portfolio allocation in NVTA by 6.22% over the last quarter.
Baker Bros. Advisors Lp holds 8,402,035 shares representing 3.46% ownership of the company. In it's prior filing, the firm reported owning 9,873,488 shares, representing a decrease of 17.51%. The firm decreased its portfolio allocation in NVTA by 0.96% over the last quarter.
Geode Capital Management, Llc holds 4,028,562 shares representing 1.66% ownership of the company. In it's prior filing, the firm reported owning 3,796,660 shares, representing an increase of 5.76%. The firm increased its portfolio allocation in NVTA by 10.78% over the last quarter.
Invitae Corp Background Information
(This description is provided by the company.)
itae Corporation is a leading medical genetics company whose mission is to bring comprehensive genetic information into mainstream medicine to improve healthcare for billions of people. Invitae's goal is to aggregate the world's genetic tests into a single service with higher quality, faster turnaround time, and lower prices.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
