InVitae Corp (NASDAQ:NVTA) posted its quarterly earnings results on Monday, August 7th. The medical research company reported ($0.66) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.64) by $0.02, Briefing.com reports. InVitae Corp had a negative net margin of 199.20% and a negative return on equity of 153.27%. The company had revenue of $14.34 million for the quarter, compared to the consensus estimate of $13.31 million. During the same period in the prior year, the firm posted ($0.77) EPS. The business’s revenue was up 157.0% on a year-over-year basis.
InVitae Corp (NVTA) traded up 0.52% during trading on Friday, reaching $9.60. 235,304 shares of the company’s stock traded hands. InVitae Corp has a 12-month low of $5.76 and a 12-month high of $11.88. The company has a 50 day moving average price of $9.56 and a 200-day moving average price of $9.83. The company’s market cap is $418.02 million.
NVTA has been the subject of several research analyst reports. ValuEngine raised shares of InVitae Corp from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. BidaskClub raised shares of InVitae Corp from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $15.00 price target (up previously from $14.00) on shares of InVitae Corp in a research note on Wednesday, August 9th. Finally, Zacks Investment Research raised shares of InVitae Corp from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $12.94.
Large investors have recently made changes to their positions in the stock. Donald L. Hagan LLC purchased a new stake in shares of InVitae Corp during the first quarter worth approximately $111,000. Renaissance Technologies LLC bought a new position in InVitae Corp during the fourth quarter worth approximately $879,000. HighTower Advisors LLC increased its position in InVitae Corp by 11.9% in the first quarter. HighTower Advisors LLC now owns 252,744 shares of the medical research company’s stock worth $2,792,000 after buying an additional 26,787 shares during the period. State Street Corp increased its position in InVitae Corp by 9.4% in the fourth quarter. State Street Corp now owns 338,514 shares of the medical research company’s stock worth $2,688,000 after buying an additional 29,017 shares during the period. Finally, Highbridge Capital Management LLC bought a new position in InVitae Corp during the first quarter worth approximately $302,000.
About InVitae Corp
Invitae Corporation 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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