InVitae Corp (NVTA) Trading Down 6.3%
InVitae Corp (NASDAQ:NVTA) shares were down 6.3% during mid-day trading 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.
Several research analysts have recently issued reports on NVTA shares. Zacks Investment Research upgraded shares of InVitae Corp from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a research note on Wednesday, July 20th. Benchmark Co. began coverage on shares of InVitae Corp in a report on Thursday, June 30th. They set a “hold” rating and a $8.50 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of InVitae Corp from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, August 9th.
The company’s market capitalization is $249.41 million. The firm’s 50-day moving average is $8.58 and its 200-day moving average is $8.84.
InVitae Corp (NASDAQ:NVTA) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.77) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by $0.01. During the same quarter in the previous year, the company earned ($0.76) earnings per share. The company had revenue of $5.60 million for the quarter, compared to the consensus estimate of $5.81 million. InVitae Corp’s revenue for the quarter was up 211.1% compared to the same quarter last year. Equities analysts anticipate that InVitae Corp will post ($2.96) EPS 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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