IQ EQ FUND MANAGEMENT IRELAND Ltd Makes New Investment in Veracyte, Inc. (NASDAQ:VCYT)

IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Veracyte, Inc. (NASDAQ:VCYT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,541 shares of the biotechnology company’s stock, valued at approximately $325,000.

A number of other large investors have also recently bought and sold shares of the business. Inspire Investing LLC raised its holdings in shares of Veracyte by 2.1% during the second quarter. Inspire Investing LLC now owns 16,462 shares of the biotechnology company’s stock valued at $357,000 after buying an additional 340 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Veracyte by 6.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 8,198 shares of the biotechnology company’s stock valued at $182,000 after buying an additional 530 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Veracyte by 3.7% during the second quarter. Arizona State Retirement System now owns 20,806 shares of the biotechnology company’s stock valued at $451,000 after buying an additional 733 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Veracyte by 9.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 9,325 shares of the biotechnology company’s stock valued at $207,000 after buying an additional 778 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Veracyte by 168.3% during the second quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 951 shares during the last quarter.

Veracyte Stock Performance

NASDAQ VCYT opened at $34.31 on Friday. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $35.51. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of -36.50 and a beta of 1.67. The firm’s 50 day moving average price is $32.37 and its two-hundred day moving average price is $25.39.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.10. The company had revenue of $114.43 million during 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 company’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.12) EPS. On average, research analysts forecast that Veracyte, Inc. will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling at Veracyte

In other Veracyte news, Director Jens Holstein sold 5,000 shares of Veracyte stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $29.00, for a total transaction of $145,000.00. Following the completion of the sale, the director now owns 27,878 shares of the company’s stock, valued at $808,462. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider John Leite sold 5,479 shares of Veracyte stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total value of $163,164.62. Following the completion of the sale, the insider now owns 76,174 shares of the company’s stock, valued at approximately $2,268,461.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jens Holstein sold 5,000 shares of Veracyte stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $29.00, for a total transaction of $145,000.00. Following the completion of the sale, the director now directly owns 27,878 shares of the company’s stock, valued at approximately $808,462. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,141 shares of company stock valued at $1,180,116 in the last quarter. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on VCYT. Morgan Stanley lifted 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. UBS Group began coverage on shares of Veracyte in a research note on Wednesday. They set a “buy” rating and a $43.00 price objective on the stock. Guggenheim began coverage on shares of Veracyte in a research note on Thursday, October 10th. They set a “buy” rating and a $40.00 price objective on the stock. Needham & Company LLC raised their price objective on shares of Veracyte from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Leerink Partners raised their price objective on shares of Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.67.

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.