In the world of finance, there are always transactions taking place, investments being made and decisions being taken. One such decision was that of Mirae Asset Global Investments Co. Ltd., one of the leading institutional investors in the market, who decreased its position in shares of Invitae Co.(NYSE:NVTA) by 21.7% during the 4th quarter of last year.
According to its most recent filing with the Securities and Exchange Commission, Mirae Asset Global Investments Co. Ltd. owned about 0.58% of Invitae worth $2,633,000 as of its most recent filing with the Securities and Exchange Commission.
Invitae Corp. is a leading provider of genetic information into mainstream medical practice; they specialize in providing comprehensive panels for hereditary conditions in cancer, cardiology, neurology, pediatric and rare diseases.
The company was founded by Randal W. Scott and Sean E. George on January 13, 2010 and is headquartered in San Francisco, CA.
While this news may be cause for concern to some shareholders at first glance, it is important to note that Invitae’s stock has seen significant fluctuations over the past year with a low of $1.05 and a high of $9.00.
Shares opened at $1.08 on Friday with a 50-day moving average price of $1.32 and a 200-day moving average price of $1.94.
It is also worth mentioning that Invitae has maintained strong financials with a current ratio of 2.65 which indicates its ability to meet short-term obligations; it also has a quick ratio (which measures a company’s ability to meet short term obligations using only its most liquid assets)of 2..55,making them financially solvent amidst all market uncertainties.They have managed to maintain their debt-to-equity ratio at a high percentage which points out future growth and capital expansion plans.
In conclusion, while Mirae Asset Global Investments Co. Ltd.’s decision to decrease its position in Invitae may cause concern for some investors, it is important to look at the bigger picture and consider all factors. As a company that has positioned itself for growth and success in the medical research space, Invitae continues to remain an attractive investment opportunity with high potential gains on investments in their future. And with impressive financial ratios, they have proven that they can sustain themselves throughout market uncertainties.The figures certainly speak for themselves!
Institutional Investors Boost Holdings in Genetic Information Provider, Invitae Corp.
San Francisco-based Invitae Corp. is a leading provider of genetic information for mainstream medical purposes. The company has recently received a boost from institutional investors, with a handful of hedge funds boosting their holdings in the company by as much as 219.2% during the third quarter of 2020. In particular, MetLife Investment Management LLC boosted its position by 33.5% during the same period, while Victory Capital Management Inc.’s stake increased by over two-fold.
However, the company has experienced some insider selling as well. CAO Robert F. Werner sold more than 21,000 shares of Invitae stock on May 16th to garner $25,870 in proceeds while CFO Yafei Wen sold about twice the number of shares at an average price of $1.99, netting $86,469.
Invitae’s performance has been mediocre as evident from its negative return on equity and net margin of more than -600%. However, it beat earnings estimates for Q1 2020 with (-$0.37) per share compared to analysts’ projected losses of (-$0.41), on revenue amounting to $117.36 million.
Several analysts have expressed negative views about Invitae’s stock outlook with rating offers ranging from “sell” to “underperform.” Experts calculated that the consensus target price for Invitae Shares is $3.88 with an analyst consensus rating of “hold,” according to Bloomberg.com.
The company was established in January 2010 by its founders Randal W Scott and Sean George and currently provides comprehensive panels that help diagnose hereditary conditions including cancer, cardiology, neurology, pediatric diseases, and rare ailments.
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