InVitae Corp (NVTA) Shares Down 7.1%
InVitae Corp (NASDAQ:NVTA) shares were down 7.1% during trading on Tuesday . The company traded as low as $8.77 and last traded at $8.81, with a volume of 63,486 shares. The stock had previously closed at $9.48.
A number of research analysts have commented on NVTA shares. Zacks Investment Research upgraded shares of InVitae Corp from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a research note on Wednesday, July 20th. Benchmark Co. started coverage on shares of InVitae Corp in a research note on Thursday, June 30th. They set a “hold” rating and a $8.50 price target for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of InVitae Corp from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th.
The stock’s market capitalization is $284.25 million. The firm has a 50 day moving average of $8.45 and a 200-day moving average of $8.80.
InVitae Corp (NASDAQ:NVTA) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.76) by $0.01. The firm had revenue of $5.60 million for the quarter, compared to the consensus estimate of $5.81 million. During the same quarter in the previous year, the company earned ($0.76) EPS. InVitae Corp’s revenue was up 211.1% compared to the same quarter last year. On average, equities research analysts forecast that InVitae Corp will post ($2.96) EPS for the current year.
Invitae Corporation (Invitae) utilizes an integrated portfolio of laboratory processes, software tools and informatics capabilities to process deoxyribonucleic acid (DNA)-containing samples, analyze information about patient-specific genetic variation and generate test reports for clinicians and their patients.
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