InVitae Corp (NYSE:NVTA) – Equities researchers at Oppenheimer decreased their Q3 2019 earnings per share (EPS) estimates for shares of InVitae in a report released on Monday, June 17th, according to Zacks Investment Research. Oppenheimer analyst K. Degeeter now expects that the medical research company will earn ($0.59) per share for the quarter, down from their prior estimate of ($0.54). Oppenheimer has a “Outperform” rating and a $30.00 price target on the stock. Oppenheimer also issued estimates for InVitae’s Q4 2019 earnings at ($0.49) EPS, FY2019 earnings at ($2.08) EPS, FY2020 earnings at ($1.66) EPS and FY2021 earnings at ($1.05) EPS.
Several other analysts have also commented on NVTA. Zacks Investment Research upgraded InVitae from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Wednesday, April 24th. Chardan Capital reiterated a “buy” rating and set a $30.00 price objective on shares of InVitae in a report on Tuesday, June 11th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $25.20.
NYSE NVTA traded down $0.38 during midday trading on Thursday, hitting $23.89. 1,094,836 shares of the company traded hands, compared to its average volume of 1,915,875. InVitae has a 52 week low of $7.65 and a 52 week high of $26.77. The firm has a 50-day simple moving average of $19.74. The company has a current ratio of 7.73, a quick ratio of 7.73 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $2.18 billion, a P/E ratio of -12.31 and a beta of 2.52.
InVitae (NYSE:NVTA) last announced its earnings results on Tuesday, May 7th. The medical research company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.01). The company had revenue of $40.55 million for the quarter, compared to the consensus estimate of $47.17 million. InVitae had a negative net margin of 81.52% and a negative return on equity of 65.76%. The firm’s revenue was up 46.5% compared to the same quarter last year. During the same period last year, the business posted ($0.66) EPS.
A number of hedge funds have recently modified their holdings of NVTA. PNC Financial Services Group Inc. acquired a new stake in InVitae during the 1st quarter worth about $26,000. Certified Advisory Corp acquired a new stake in InVitae during the 1st quarter worth about $30,000. Signaturefd LLC acquired a new stake in InVitae during the 1st quarter worth about $47,000. SG Americas Securities LLC acquired a new stake in InVitae during the 1st quarter worth about $125,000. Finally, NumerixS Investment Technologies Inc acquired a new stake in InVitae during the 4th quarter worth about $58,000. Institutional investors own 78.93% of the company’s stock.
In related news, COO E Lee Bendekgey sold 4,657 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $18.78, for a total value of $87,458.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katherine Stueland sold 1,000 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $25.23, for a total value of $25,230.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,440 shares of company stock valued at $1,641,082. Company insiders own 5.70% of the company’s stock.
About InVitae
Invitae Corporation, a genetic information company, processes DNA-containing samples, analyzes information related to patient-specific genetic variation, and generates test reports for clinicians and their patients in the United States, Canada, and internationally. Its tests include genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; and screening and testing services in reproductive health, including preimplantation and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.