Benchmark Initiates Coverage on InVitae Corp to Hold

Benchmark Initiates Coverage on InVitae Corp(NYSE:NVTA). The shares have been rated Hold. The rating by Benchmark was issued on Jun 30, 2016.

InVitae Corp (NVTA) made into the market gainers list on Tuesdays trading session with the shares advancing 5.13% or 0.39 points. Due to strong positive momentum, the stock ended at $7.99, which is also near the day’s high of $8.19. The stock began the session at $7.7 and the volume stood at 1,13,955 shares. The 52-week high of the shares is $15.48 and the 52 week low is $5.66. The company has a current market capitalization of $256 M and it has 3,20,53,486 shares in outstanding.

InVitae Corp(NVTA) last announced its earnings results on May 9, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $3.96M. Analysts had an estimated revenue of $4.38M. Earnings per share were $-0.80. Analysts had estimated an EPS of $-0.76.

Several Insider Transactions has been reported to the SEC. On Jun 20, 2016, Patty Dumond (VP Fin. & Principal Acct. Off.) sold 1,000 shares at $8.00 per share price.Also, 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.

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