InVitae Corp (NVTA) Shares Down 5.6%
InVitae Corp (NASDAQ:NVTA) fell 5.6% during trading on Tuesday . The stock traded as low as $7.72 and last traded at $7.76, with a volume of 69,152 shares trading hands. The stock had previously closed at $8.22.
Several brokerages have commented on NVTA. Zacks Investment Research lowered shares of InVitae Corp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th. JPMorgan Chase & Co. raised their price target on shares of InVitae Corp from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, August 9th. Finally, Benchmark Co. began coverage on shares of InVitae Corp in a research note on Thursday, June 30th. They issued a “hold” rating and a $8.50 price target on the stock.
The company’s market capitalization is $250.38 million. The stock’s 50-day moving average is $8.50 and its 200-day moving average is $8.90.
InVitae Corp (NASDAQ:NVTA) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by $0.01. The business had revenue of $5.60 million for the quarter, compared to the consensus estimate of $5.81 million. InVitae Corp’s revenue was up 211.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.76) EPS. On average, 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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