BlackRock Advisors LLC cut its position in InVitae Corp (NASDAQ:NVTA) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,367,033 shares of the company’s stock after selling 106,417 shares during the period. BlackRock Advisors LLC owned approximately 7.38% of InVitae Corp worth $17,492,000 at the end of the most recent quarter.
Separately, Vanguard Group Inc. raised its stake in shares of InVitae Corp by 7.0% in the second quarter. Vanguard Group Inc. now owns 636,857 shares of the company’s stock worth $4,706,000 after buying an additional 41,420 shares during the last quarter.
InVitae Corp (NASDAQ:NVTA) opened at 8.76 on Thursday. The company has a 50 day moving average of $8.38 and a 200-day moving average of $8.89. InVitae Corp has a one year low of $5.66 and a one year high of $11.85. The company’s market cap is $282.64 million.
InVitae Corp (NASDAQ:NVTA) last posted its earnings results on Monday, August 8th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by $0.01. The company had revenue of $5.60 million for the quarter, compared to the consensus estimate of $5.81 million. InVitae Corp’s revenue for the quarter was up 211.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.76) EPS. On average, equities analysts expect that InVitae Corp will post ($2.96) earnings per share for the current fiscal year.
NVTA has been the subject of several research reports. Benchmark Co. initiated coverage on shares of InVitae Corp in a report on Thursday, June 30th. They set a “hold” rating and a $8.50 price objective for the company. Zacks Investment Research raised shares of InVitae Corp from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a report on Wednesday, July 20th. JPMorgan Chase & Co. increased their price objective on shares of InVitae Corp from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, August 9th. Finally, TheStreet downgraded shares of InVitae Corp from a “hold” rating to a “sell” rating in a report on Thursday, September 15th.
About InVitae Corp
Invitae Corporation (Invitae) 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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