InVitae Corp (NASDAQ:NVTA) announced its quarterly earnings results on Tuesday. The medical research company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.04. The company had revenue of $10.34 million during the quarter, compared to the consensus estimate of $10.90 million. During the same quarter in the prior year, the firm posted ($0.80) earnings per share. The business’s revenue was up 161.1% on a year-over-year basis.
InVitae Corp (NASDAQ:NVTA) traded up 1.24% during trading on Friday, hitting $9.01. 245,338 shares of the company were exchanged. The company’s market capitalization is $381.25 million. The stock’s 50-day moving average is $10.56 and its 200-day moving average is $9.11. InVitae Corp has a 12 month low of $5.76 and a 12 month high of $11.88.
NVTA has been the topic of a number of research reports. Zacks Investment Research upgraded shares of InVitae Corp from a “sell” rating to a “hold” rating in a report on Tuesday, February 14th. Benchmark Co. upgraded shares of InVitae Corp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $8.50 to $11.00 in a report on Tuesday, February 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $12.69.
Several institutional investors have recently added to or reduced their stakes in NVTA. Donald L. Hagan LLC bought a new position in InVitae Corp during the first quarter worth $111,000. Verity Asset Management Inc. bought a new position in InVitae Corp during the first quarter worth $116,000. Nationwide Fund Advisors raised its position 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. American International Group Inc. raised its position in InVitae Corp by 31.3% in the first quarter. American International Group Inc. now owns 17,174 shares of the medical research company’s stock worth $190,000 after buying an additional 4,090 shares during the period. Finally, Trexquant Investment LP bought a new position in InVitae Corp during the first quarter worth $200,000.
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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