Point72 DIFC Ltd Purchases Shares of 10,010 Veracyte, Inc. (NASDAQ:VCYT)

Point72 DIFC Ltd purchased a new position in Veracyte, Inc. (NASDAQ:VCYT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,010 shares of the biotechnology company’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. grew its position in Veracyte by 2,331.6% during the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock worth $31,000 after buying an additional 1,329 shares in the last quarter. CWM LLC lifted its position in shares of Veracyte by 168.3% in the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 951 shares during the period. Signature Resources Capital Management LLC acquired a new stake in shares of Veracyte during the 2nd quarter worth approximately $83,000. nVerses Capital LLC bought a new stake in shares of Veracyte during the second quarter valued at approximately $85,000. Finally, SG Americas Securities LLC acquired a new position in shares of Veracyte in the first quarter valued at $140,000.

Veracyte Price Performance

Shares of VCYT stock opened at $33.51 on Friday. The stock’s fifty day simple moving average is $29.43 and its 200 day simple moving average is $24.15. Veracyte, Inc. has a one year low of $18.61 and a one year high of $35.51. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -35.65 and a beta of 1.66.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.10. The business had revenue of $114.43 million for the quarter, compared to analyst estimates of $100.27 million. Veracyte had a negative net margin of 13.52% and a positive return on equity of 1.52%. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.12) EPS. On average, research analysts anticipate that Veracyte, Inc. will post 0.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on VCYT shares. Morgan Stanley lifted their price target on shares of Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. Needham & Company LLC lifted their target price on shares of 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, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Veracyte currently has a consensus rating of “Moderate Buy” and an average price target of $31.25.

Insiders Place Their Bets

In other news, Director Evan/ Fa Jones sold 1,032 shares of Veracyte stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.03, for a total value of $30,990.96. Following the completion of the transaction, the director now owns 46,413 shares in the company, valued at $1,393,782.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Evan/ Fa Jones sold 1,032 shares of the firm’s 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 approximately $1,393,782.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karin Eastham sold 7,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $25.00, for a total value of $187,500.00. Following the completion of the transaction, the director now directly owns 33,228 shares in the company, valued at approximately $830,700. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,918 shares of company stock valued at $1,399,541. 1.30% of the stock is currently owned by insiders.

About Veracyte

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.