InVitae Corp (NYSE:NVTA) – Research analysts at Svb Leerink dropped their Q1 2020 earnings estimates for shares of InVitae in a research report issued on Monday, December 9th. Svb Leerink analyst P. Souda now anticipates that the medical research company will post earnings of ($0.47) per share for the quarter, down from their prior estimate of ($0.43). Svb Leerink also issued estimates for InVitae’s Q2 2020 earnings at ($0.46) EPS, Q3 2020 earnings at ($0.48) EPS, Q4 2020 earnings at ($0.45) EPS, FY2020 earnings at ($1.85) EPS and FY2021 earnings at ($1.38) EPS.
InVitae (NYSE:NVTA) last posted its quarterly earnings data on Wednesday, November 6th. The medical research company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.17). InVitae had a negative return on equity of 58.90% and a negative net margin of 99.49%. The company had revenue of $56.51 million for the quarter, compared to the consensus estimate of $55.00 million.
NVTA has been the topic of several other research reports. Zacks Investment Research downgraded shares of InVitae from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Chardan Capital set a $32.00 price objective on shares of InVitae and gave the stock a “buy” rating in a report on Sunday, August 25th. Finally, ValuEngine upgraded shares of InVitae from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $27.83.
NYSE:NVTA opened at $17.03 on Wednesday. The firm’s 50-day moving average is $17.86 and its 200-day moving average is $20.83. InVitae has a 52-week low of $9.04 and a 52-week high of $28.75. The company has a debt-to-equity ratio of 0.77, a quick ratio of 7.38 and a current ratio of 7.38. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -8.78 and a beta of 2.53.
In related news, insider Katherine Stueland sold 3,788 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.46, for a total value of $66,138.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 5.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in InVitae by 15.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,519 shares of the medical research company’s stock valued at $106,000 after acquiring an additional 606 shares during the period. Seelaus Asset Management LLC increased its stake in InVitae by 2.4% in the second quarter. Seelaus Asset Management LLC now owns 27,740 shares of the medical research company’s stock valued at $652,000 after acquiring an additional 650 shares during the period. Dupont Capital Management Corp increased its stake in InVitae by 2.0% in the third quarter. Dupont Capital Management Corp now owns 41,505 shares of the medical research company’s stock valued at $800,000 after acquiring an additional 823 shares during the period. Parallel Advisors LLC bought a new stake in InVitae in the second quarter valued at about $25,000. Finally, California State Teachers Retirement System increased its stake in InVitae by 1.2% in the third quarter. California State Teachers Retirement System now owns 135,029 shares of the medical research company’s stock valued at $2,602,000 after acquiring an additional 1,613 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.
InVitae Company Profile
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.
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