nVerses Capital LLC Takes $85,000 Position in Veracyte, Inc. (NASDAQ:VCYT)

nVerses Capital LLC purchased a new position in Veracyte, Inc. (NASDAQ:VCYT) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 3,900 shares of the biotechnology company’s stock, valued at approximately $85,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its holdings in shares of Veracyte by 2,331.6% during the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 1,329 shares in the last quarter. CWM LLC raised its holdings in Veracyte by 168.3% in the second quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after buying an additional 951 shares during the last quarter. Signature Resources Capital Management LLC bought a new position in shares of Veracyte in the second quarter worth approximately $83,000. SG Americas Securities LLC purchased a new stake in shares of Veracyte during the first quarter valued at approximately $140,000. Finally, Lazard Asset Management LLC increased its position in shares of Veracyte by 105.6% during the first quarter. Lazard Asset Management LLC now owns 6,368 shares of the biotechnology company’s stock valued at $140,000 after acquiring an additional 3,271 shares in the last quarter.

Veracyte Stock Down 4.0 %

Shares of Veracyte stock opened at $30.29 on Wednesday. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $33.33. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -32.22 and a beta of 1.65. The company’s 50 day moving average is $26.10 and its 200 day moving average is $23.13.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. The firm had revenue of $114.43 million for the quarter, compared to the consensus estimate of $100.27 million. Veracyte had a positive return on equity of 1.52% and a negative net margin of 13.52%. The company’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period last year, the business posted ($0.12) EPS. Sell-side analysts expect that Veracyte, Inc. will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling at Veracyte

In related news, Director Muna Bhanji sold 3,870 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $20.32, for a total value of $78,638.40. Following the transaction, the director now owns 23,105 shares of the company’s stock, valued at $469,493.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Muna Bhanji sold 3,870 shares of Veracyte stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $20.32, for a total transaction of $78,638.40. Following the transaction, the director now directly owns 23,105 shares of the company’s stock, valued at approximately $469,493.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Karin Eastham sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $25.00, for a total value of $187,500.00. Following the transaction, the director now owns 33,228 shares of the company’s stock, valued at $830,700. The disclosure for this sale can be found here. Insiders sold a total of 41,636 shares of company stock worth $1,185,195 in the last three months. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on VCYT. Needham & Company LLC upped 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. Morgan Stanley upped their price target on Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Veracyte presently has a consensus rating of “Moderate Buy” and a consensus price target 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.