That’s the wicked change: Invitae Corporation (NYSE: NVTA)

On 02 Jan 2020, Invitae Corporation (NYSE: NVTA) spotted trading -43.13% off 52-week high price. On the other end, the stock has been noted 59.20% away from the low price over the last 52-weeks. The stock changed 1.36% to recent value of $16.35. The stock transacted 1361171 shares during most recent day however it has an average volume of 1829.61K shares. The company has 100.13M of outstanding shares and 92.42M shares were floated in the market.

Invitae Corporation (NVTA) recently reported financial and operating results for the third quarter ended September 30, 2019.

Third Quarter 2019 Financial Results

Accessioned over 129,000 samples in the third quarter of 2019, representing a 65% increase over the 78,000 samples in the third quarter of 2018. Billable volume was about 124,000 in the third quarter of 2019

Generated revenue of $56.5M in the third quarter of 2019, representing a 51% increase over the third quarter of 2018 revenue of $37.4M

Stated the average cost per sample at $249 in the third quarter of 2019, representing a 5% reduction from a $262 average cost per sample in the third quarter of 2018

Achieved gross profit of $24.4M in the third quarter of 2019 contrast to $16.9M of gross profit in the third quarter of 2018

Total operating expense, which excludes cost of revenue, for the third quarter of 2019 was $101.4M (non-GAAP operating expense of $79.8M) contrast to $47.0M for the third quarter of 2018.

For the third quarter of 2019, Invitae stated a net loss of $78.7M, or a $0.82 loss per share, contrast to a net loss of $31.7M in the third quarter of 2018, or a $0.45 net loss per share. Non-GAAP net loss was $65.8M in the third quarter of 2019, or a $0.69 non-GAAP net loss per share.

As of September 30, 2019, cash, cash equivalents, restricted cash, and marketable securities totaled $473.5M. Net increase in cash, cash equivalents and restricted cash for the quarter was $220.0M. Cash burn for the quarter was $140.0M ($40.3M not including financing and acquisition-related items), and includes $85.6M to repay Oberland (which includes $1.3M of accrued interest on our third quarter 2019 quarterly interest payment) and $15.4M in Jungla acquisition-related payments.

Its earnings per share (EPS) expected to touch remained -20.90% for this year while earning per share for the next 5-years is expected to reach at 8.00%. NVTA has a gross margin of 47.70% and an operating margin of -97.40% while its profit margin remained -99.50% for the last 12 months.   According to the most recent quarter its current ratio was 7.4 that represents company’s ability to meet its current financial obligations. The price moved ahead of -3.59% from the mean of 20 days, -6.30% from mean of 50 days SMA and performed -22.10% from mean of 200 days price. Company’s performance for the week was -3.60%, -13.12% for month and YTD performance remained 1.36%.

 

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