InVitae Corp (NVTA) Shares Down 11.6%
Shares of InVitae Corp (NASDAQ:NVTA) fell 11.6% during mid-day trading on Wednesday . The company traded as low as $8.52 and last traded at $8.56, with a volume of 56,263 shares. The stock had previously closed at $9.68.
NVTA has been the subject of a number of research analyst reports. Benchmark Co. initiated coverage on InVitae Corp in a report on Thursday, June 30th. They set a “hold” rating and a $8.50 price target for the company. Zacks Investment Research cut InVitae Corp from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on InVitae Corp from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday.
The firm has a 50-day moving average price of $8.33 and a 200-day moving average price of $8.75. The firm’s market capitalization is $288.77 million.
InVitae Corp (NASDAQ:NVTA) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.77) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.76) by $0.01. The company earned $5.60 million during the quarter, compared to analysts’ expectations of $5.81 million. During the same quarter in the previous year, the business posted ($0.76) EPS. InVitae Corp’s quarterly revenue was up 211.1% on a year-over-year basis. On average, equities analysts predict that InVitae Corp will post ($2.91) earnings per share 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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