InVitae Corp (NVTA) Shares Down 6.3%
InVitae Corp (NASDAQ:NVTA) shares dropped 6.3% on Wednesday . The stock traded as low as $8.16 and last traded at $8.19, with a volume of 61,274 shares. The stock had previously closed at $8.74.
NVTA has been the topic of several recent analyst reports. Benchmark Co. initiated coverage on InVitae Corp in a research report on Thursday, June 30th. They set a “hold” rating and a $8.50 price target on the stock. Zacks Investment Research raised InVitae Corp from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a research report on Wednesday, July 20th. Finally, JPMorgan Chase & Co. boosted their price target on InVitae Corp from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th.
The company’s market cap is $258.44 million. The firm has a 50-day moving average of $8.59 and a 200-day moving average of $8.85.
InVitae Corp (NASDAQ:NVTA) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.76) by $0.01. The firm earned $5.60 million during the quarter, compared to analysts’ expectations of $5.81 million. The firm’s revenue was up 211.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.76) earnings per share. On average, equities research analysts forecast that InVitae Corp will post ($2.96) earnings per share for the current fiscal 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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