InVitae Corp (NYSE:NVTA) Expected to Announce Earnings of -$0.62 Per Share

Equities research analysts expect that InVitae Corp (NYSE:NVTA) will report ($0.62) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for InVitae’s earnings, with estimates ranging from ($0.75) to ($0.43). InVitae reported earnings per share of ($0.52) during the same quarter last year, which suggests a negative year over year growth rate of 19.2%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, August 4th.

According to Zacks, analysts expect that InVitae will report full year earnings of ($2.66) per share for the current year, with EPS estimates ranging from ($2.74) to ($2.58). For the next year, analysts anticipate that the firm will report earnings of ($1.66) per share, with EPS estimates ranging from ($2.26) to ($0.93). Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for InVitae.

InVitae (NYSE:NVTA) last released its earnings results on Tuesday, May 5th. The medical research company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.04. InVitae had a negative return on equity of 69.95% and a negative net margin of 127.42%. The business had revenue of $64.25 million for the quarter, compared to the consensus estimate of $59.41 million. During the same quarter last year, the business posted ($0.47) earnings per share. The business’s quarterly revenue was up 58.4% compared to the same quarter last year.

Several research firms have recently weighed in on NVTA. ValuEngine cut shares of InVitae from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 1st. Zacks Investment Research upgraded InVitae from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, April 7th. SVB Leerink raised their target price on InVitae from $20.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. They noted that the move was a valuation call. Benchmark cut InVitae from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Oppenheimer restated a “buy” rating and issued a $29.00 price objective on shares of InVitae in a report on Monday, June 22nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $25.83.

Shares of NVTA traded up $0.19 during mid-day trading on Wednesday, reaching $30.48. The stock had a trading volume of 4,162,649 shares, compared to its average volume of 3,361,591. InVitae has a 52-week low of $7.41 and a 52-week high of $31.75. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of -9.58 and a beta of 2.05. The business’s fifty day moving average is $19.04 and its 200 day moving average is $17.71. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.95 and a quick ratio of 2.95.

In other InVitae news, insider Robert L. Nussbaum sold 19,893 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $17.28, for a total transaction of $343,751.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO E Lee Bendekgey sold 18,665 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $18.11, for a total transaction of $338,023.15. The disclosure for this sale can be found here. Insiders have sold 90,580 shares of company stock worth $1,547,142 over the last 90 days. 2.90% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Benjamin Edwards Inc. lifted its holdings in InVitae by 46.7% during the 1st quarter. Benjamin Edwards Inc. now owns 2,217 shares of the medical research company’s stock worth $30,000 after buying an additional 706 shares in the last quarter. CWM LLC acquired a new stake in InVitae during the 1st quarter worth approximately $40,000. HM Payson & Co. acquired a new stake in InVitae during the 4th quarter worth approximately $70,000. US Bancorp DE lifted its holdings in InVitae by 108.3% during the 4th quarter. US Bancorp DE now owns 4,786 shares of the medical research company’s stock worth $77,000 after buying an additional 2,488 shares in the last quarter. Finally, Pathstone Family Office LLC lifted its holdings in InVitae by 66.7% during the 1st quarter. Pathstone Family Office LLC now owns 5,500 shares of the medical research company’s stock worth $75,000 after buying an additional 2,200 shares in the last quarter. Institutional investors own 81.56% of the company’s stock.

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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Earnings History and Estimates for InVitae (NYSE:NVTA)

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