15,266 Shares in Veracyte, Inc. (NASDAQ:VCYT) Acquired by Vinva Investment Management Ltd

Vinva Investment Management Ltd acquired a new stake in Veracyte, Inc. (NASDAQ:VCYT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 15,266 shares of the biotechnology company’s stock, valued at approximately $520,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. William Blair Investment Management LLC lifted its stake in shares of Veracyte by 67.4% in the second quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company’s stock worth $26,907,000 after acquiring an additional 500,020 shares during the period. Granite Investment Partners LLC lifted its holdings in shares of Veracyte by 2.1% in the 2nd quarter. Granite Investment Partners LLC now owns 934,994 shares of the biotechnology company’s stock worth $20,261,000 after purchasing an additional 19,244 shares in the last quarter. Fiera Capital Corp grew its holdings in shares of Veracyte by 1.2% during the second quarter. Fiera Capital Corp now owns 625,536 shares of the biotechnology company’s stock valued at $13,555,000 after buying an additional 7,219 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Veracyte during the 2nd quarter worth approximately $12,279,000. Finally, Segall Bryant & Hamill LLC grew its holdings in Veracyte by 19.0% during the third quarter. Segall Bryant & Hamill LLC now owns 444,299 shares of the biotechnology company’s stock worth $15,124,000 after buying an additional 71,086 shares in the last quarter.

Insider Buying and Selling

In related news, Director Evan/ Fa Jones sold 5,173 shares of Veracyte stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $35.23, for a total value of $182,244.79. Following the completion of the transaction, the director now owns 34,343 shares in the company, valued at approximately $1,209,903.89. This trade represents a 13.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Jonathan Wygant sold 5,032 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $42.89, for a total value of $215,822.48. Following the transaction, the chief accounting officer now directly owns 42,313 shares in the company, valued at approximately $1,814,804.57. This represents a 10.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,684 shares of company stock valued at $561,232. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on VCYT. Leerink Partners lifted their target price on shares of Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Scotiabank boosted their target price on shares of Veracyte from $40.00 to $44.00 and gave the company a “sector outperform” rating in a report on Friday, November 8th. Guggenheim began coverage on shares of Veracyte in a research report on Thursday, October 10th. They issued a “buy” rating and a $40.00 price objective for the company. The Goldman Sachs Group upped their target price on Veracyte from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC lifted their price objective on shares of Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Veracyte currently has an average rating of “Moderate Buy” and an average target price of $41.25.

Veracyte Stock Performance

Veracyte stock opened at $42.95 on Friday. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $44.16. The business has a 50-day simple moving average of $35.70 and a two-hundred day simple moving average of $29.03.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.16. The business had revenue of $115.86 million during the quarter, compared to analyst estimates of $109.81 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The company’s revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) earnings per share. On average, equities research analysts expect that Veracyte, Inc. will post 0.32 EPS for the current year.

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.