Xponance Inc. Takes Position in Veracyte, Inc. (NASDAQ:VCYT)

Xponance Inc. purchased a new stake in Veracyte, Inc. (NASDAQ:VCYT) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,490 shares of the biotechnology company’s stock, valued at approximately $257,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its position in shares of Veracyte by 116.3% in the fourth quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company’s stock valued at $33,017,000 after purchasing an additional 448,251 shares during the period. Lord Abbett & CO. LLC acquired a new stake in Veracyte in the 3rd quarter worth about $9,498,000. Jane Street Group LLC boosted its holdings in Veracyte by 276.4% in the 3rd quarter. Jane Street Group LLC now owns 301,652 shares of the biotechnology company’s stock worth $10,268,000 after buying an additional 221,504 shares during the last quarter. Castleark Management LLC acquired a new position in shares of Veracyte during the third quarter valued at approximately $6,010,000. Finally, Eventide Asset Management LLC lifted its position in shares of Veracyte by 20.2% in the third quarter. Eventide Asset Management LLC now owns 677,883 shares of the biotechnology company’s stock valued at $23,075,000 after acquiring an additional 113,883 shares in the last quarter.

Veracyte Stock Down 3.2 %

NASDAQ:VCYT opened at $30.12 on Friday. Veracyte, Inc. has a 52 week low of $18.61 and a 52 week high of $47.32. The stock’s fifty day moving average is $37.57 and its two-hundred day moving average is $37.69. The company has a market capitalization of $2.35 billion, a P/E ratio of -200.80 and a beta of 1.80.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The firm had revenue of $118.63 million for the quarter, compared to analyst estimates of $110.73 million. During the same period in the previous year, the firm earned ($0.39) EPS. Sell-side analysts anticipate that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VCYT has been the subject of several recent research reports. UBS Group increased their price objective on Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. StockNews.com cut shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Stephens restated an “overweight” rating and set a $45.00 price target on shares of Veracyte in a research report on Wednesday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $37.00 price objective (down previously from $38.00) on shares of Veracyte in a report on Thursday, December 5th. Finally, Craig Hallum started coverage on Veracyte in a research report on Thursday, March 20th. They issued a “buy” rating and a $45.00 price target for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Veracyte presently has a consensus rating of “Moderate Buy” and an average target price of $43.40.

Insider Transactions at Veracyte

In related news, Director Karin Eastham sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total value of $403,000.00. Following the sale, the director now owns 18,497 shares in the company, valued at approximately $745,429.10. The trade was a 35.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

Veracyte Company Profile

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.