InVitae Corp (NVTA) is Initiated by The Benchmark Company to Hold, Price Target at $8.50

InVitae Corp (NVTA) was Initiated by The Benchmark Company to “Hold” and the brokerage firm has set the Price Target at $8.50. The Benchmark Company advised their investors in a research report released on Jun 30, 2016.

On the company’s financial health, InVitae Corp reported $-0.80 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on May 9, 2016. Analyst had a consensus of $-0.76. The company had revenue of $4.00 million for the quarter, compared to analysts expectations of $4.38 million. The company’s revenue was up 233.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.09 EPS.

InVitae Corp closed down -0.36 points or -4.70% at $7.3 with 1,14,094 shares getting traded on Wednesday. Post opening the session at $7.8, the shares hit an intraday low of $7.14 and an intraday high of $7.8 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Jun 20, 2016, Patty Dumond (VP Fin. & Principal Acct. Off.) sold 1,000 shares at $8.00 per share price. According to the SEC, on Mar 2, 2016, Lisa Alderson (Chief Strategy Officer) sold 5,000 shares at $9.05 per share price. On Aug 13, 2015, Sean E George (COO) purchased 49,899 shares at $9.12 per share price, according to the Form-4 filing with the securities and exchange commission.

Invitae Corporation is a company that 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 physicians and their patients. The Company has two laboratories: one in San Francisco California and a second in Santiago Chile. The Company’s first product is an assay of 216 genes that can be used for multiple indications. The test includes multiple genes associated with hereditary cancer neurological disorders cardiovascular disorders and other hereditary conditions. The Company also offers panels for pediatric conditions such as Noonan spectrum disorders and ciliopathies.

InVitae Corp

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