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Invitae (NVTA) Stock Sinks As Market Gains: What You Should Know

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Invitae (NVTA - Free Report) closed at $33.73 in the latest trading session, marking a -1.03% move from the prior day. This move lagged the S&P 500's daily gain of 0.13%.

Heading into today, shares of the genetic testing company had gained 21.07% over the past month, outpacing the Medical sector's gain of 3.32% and the S&P 500's gain of 2.16% in that time.

NVTA will be looking to display strength as it nears its next earnings release. On that day, NVTA is projected to report earnings of -$0.65 per share, which would represent year-over-year growth of 15.58%. Our most recent consensus estimate is calling for quarterly revenue of $109.53 million, up 142.86% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.57 per share and revenue of $462.13 million, which would represent changes of +7.55% and +65.93%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for NVTA. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.59% lower. NVTA is currently sporting a Zacks Rank of #4 (Sell).

The Medical Info Systems industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 227, which puts it in the bottom 11% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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