Invitae: 2Q Earnings Snapshot
SAN FRANCISCO (AP) _ Invitae Corp. (NVTA) on Tuesday reported a loss of $48.7 million in its second quarter.
The San Francisco-based company said it had a loss of 54 cents per share. Losses, adjusted for costs related to mergers and acquisitions, were 52 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 48 cents per share.
The genetic testing company posted revenue of $53.5 million in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $50.5 million.
Invitae shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $24.92, more than tripling in the last 12 months.