InVitae Corp (NVTA) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS
InVitae Corp (NASDAQ:NVTA) released its quarterly earnings data on Monday. The medical research company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.64) by $0.02, Briefing.com reports. The firm had revenue of $14.34 million for the quarter, compared to analyst estimates of $13.31 million. InVitae Corp had a negative return on equity of 119.10% and a negative net margin of 260.48%. The firm’s revenue for the quarter was up 157.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.77) earnings per share.
InVitae Corp (NASDAQ NVTA) traded down 2.13% on Monday, hitting $10.12. 305,900 shares of the stock traded hands. InVitae Corp has a 52 week low of $5.76 and a 52 week high of $11.88. The stock has a 50 day moving average of $9.49 and a 200 day moving average of $9.75. The firm’s market capitalization is $428.22 million.
Hedge funds have recently made changes to their positions in the stock. State Street Corp increased its stake in shares of InVitae Corp by 9.4% in the fourth quarter. State Street Corp now owns 338,514 shares of the medical research company’s stock valued at $2,688,000 after buying an additional 29,017 shares in the last quarter. Renaissance Technologies LLC bought a new stake in InVitae Corp during the fourth quarter worth about $879,000. Teachers Advisors LLC increased its stake in InVitae Corp by 18.3% in the fourth quarter. Teachers Advisors LLC now owns 42,372 shares of the medical research company’s stock worth $336,000 after buying an additional 6,547 shares during the period. Donald L. Hagan LLC bought a new stake in InVitae Corp during the first quarter worth about $111,000. Finally, Nationwide Fund Advisors increased its stake in InVitae Corp by 21.1% in the first quarter. Nationwide Fund Advisors now owns 17,121 shares of the medical research company’s stock worth $189,000 after buying an additional 2,987 shares during the period.
Several research analysts have recently weighed in on NVTA shares. ValuEngine lowered shares of InVitae Corp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 23rd. BidaskClub upgraded shares of InVitae Corp from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Zacks Investment Research lowered shares of InVitae Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $12.69.
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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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