InVitae Corp (NVTA) Expected to Post Earnings of -$0.47 Per Share

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Equities analysts expect InVitae Corp (NYSE:NVTA) to announce ($0.47) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for InVitae’s earnings, with estimates ranging from ($0.52) to ($0.43). InVitae reported earnings of ($0.57) per share in the same quarter last year, which would indicate a positive year over year growth rate of 17.5%. The firm is expected to announce its next quarterly earnings results on Monday, November 5th.

On average, analysts expect that InVitae will report full year earnings of ($2.02) per share for the current fiscal year, with EPS estimates ranging from ($2.12) to ($1.97). For the next year, analysts forecast that the company will post earnings of ($1.46) per share, with EPS estimates ranging from ($1.68) to ($1.16). Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow InVitae.

InVitae (NYSE:NVTA) last announced its earnings results on Tuesday, August 7th. The medical research company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.07. InVitae had a negative net margin of 125.03% and a negative return on equity of 111.27%. The business had revenue of $37.31 million during the quarter, compared to analyst estimates of $30.70 million.

NVTA has been the topic of several research reports. Zacks Investment Research downgraded shares of InVitae from a “buy” rating to a “hold” rating in a research note on Saturday, August 11th. ValuEngine raised shares of InVitae from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $11.00.

Several hedge funds have recently bought and sold shares of the business. ARK Investment Management LLC raised its stake in shares of InVitae by 27.2% during the second quarter. ARK Investment Management LLC now owns 8,814,227 shares of the medical research company’s stock worth $64,785,000 after acquiring an additional 1,886,952 shares in the last quarter. BlackRock Inc. increased its stake in shares of InVitae by 76.7% in the second quarter. BlackRock Inc. now owns 4,816,353 shares of the medical research company’s stock worth $35,400,000 after buying an additional 2,090,818 shares during the period. Northern Trust Corp increased its stake in shares of InVitae by 57.7% in the second quarter. Northern Trust Corp now owns 737,440 shares of the medical research company’s stock worth $5,420,000 after buying an additional 269,798 shares during the period. Millennium Management LLC increased its stake in shares of InVitae by 694.6% in the second quarter. Millennium Management LLC now owns 536,056 shares of the medical research company’s stock worth $3,940,000 after buying an additional 468,596 shares during the period. Finally, Daiwa SB Investments Ltd. increased its stake in shares of InVitae by 33.3% in the second quarter. Daiwa SB Investments Ltd. now owns 501,847 shares of the medical research company’s stock worth $3,689,000 after buying an additional 125,322 shares during the period. 73.64% of the stock is currently owned by hedge funds and other institutional investors.

InVitae stock traded up $0.63 during mid-day trading on Friday, hitting $13.90. 579,552 shares of the company traded hands, compared to its average volume of 1,045,445. InVitae has a one year low of $4.35 and a one year high of $18.38. The firm has a market cap of $1.16 billion, a PE ratio of -5.25 and a beta of 1.78. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.75 and a quick ratio of 3.75.

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. The company's tests include multiple genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; proactive health and wellness screening; and preimplantation embryo testing and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.

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