2,685 Shares in Veracyte, Inc. (NASDAQ:VCYT) Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Veracyte, Inc. (NASDAQ:VCYT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,685 shares of the biotechnology company’s stock, valued at approximately $58,000.

Several other hedge funds and other institutional investors have also modified their holdings of VCYT. Seven Eight Capital LP bought a new position in shares of Veracyte during the 4th quarter worth approximately $1,118,000. Granahan Investment Management LLC lifted its position in shares of Veracyte by 32.1% during the 4th quarter. Granahan Investment Management LLC now owns 503,898 shares of the biotechnology company’s stock worth $13,862,000 after buying an additional 122,574 shares during the period. Parkman Healthcare Partners LLC raised its position in Veracyte by 5.1% in the 4th quarter. Parkman Healthcare Partners LLC now owns 237,316 shares of the biotechnology company’s stock valued at $6,529,000 after purchasing an additional 11,444 shares during the last quarter. Vanguard Group Inc. raised its position in Veracyte by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 7,118,211 shares of the biotechnology company’s stock valued at $195,822,000 after purchasing an additional 52,699 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Veracyte by 27.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,323 shares of the biotechnology company’s stock valued at $201,000 after purchasing an additional 1,571 shares during the last quarter.

Insider Buying and Selling

In related news, Director Evan/ Fa Jones sold 1,032 shares of Veracyte stock in a transaction on Friday, August 9th. The stock was sold at an average price of $30.03, for a total transaction of $30,990.96. Following the completion of the sale, the director now directly owns 46,413 shares of the company’s stock, valued at $1,393,782.39. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Evan/ Fa Jones sold 1,032 shares of Veracyte stock in a transaction on Friday, August 9th. The stock was sold at an average price of $30.03, for a total transaction of $30,990.96. Following the completion of the sale, the director now directly owns 46,413 shares of the company’s stock, valued at $1,393,782.39. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Leite sold 5,479 shares of Veracyte stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total value of $163,164.62. Following the sale, the insider now directly owns 76,174 shares of the company’s stock, valued at approximately $2,268,461.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,918 shares of company stock valued at $1,399,541 over the last three months. Company insiders own 1.30% of the company’s stock.

Veracyte Stock Performance

NASDAQ VCYT opened at $32.84 on Friday. The stock has a fifty day moving average of $30.62 and a 200-day moving average of $24.65. The stock has a market capitalization of $2.51 billion, a P/E ratio of -34.94 and a beta of 1.67. Veracyte, Inc. has a 52 week low of $18.61 and a 52 week high of $35.51.

Veracyte (NASDAQ:VCYT) last released its earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.10. The company had revenue of $114.43 million during the quarter, compared to analysts’ expectations of $100.27 million. Veracyte had a positive return on equity of 1.52% and a negative net margin of 13.52%. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period last year, the firm earned ($0.12) EPS. Equities research analysts forecast that Veracyte, Inc. will post 0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VCYT. Morgan Stanley lifted their price objective on Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. Needham & Company LLC lifted their price objective on Veracyte from $31.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.25.

Veracyte Company Profile

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.