2,685 Shares in Veracyte, Inc. (NASDAQ:VCYT) Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Veracyte, Inc. (NASDAQ:VCYT) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,685 shares of the biotechnology company’s stock, valued at approximately $58,000.

A number of other large investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of Veracyte by 14.7% in the fourth quarter. Principal Financial Group Inc. now owns 51,231 shares of the biotechnology company’s stock worth $1,409,000 after acquiring an additional 6,565 shares in the last quarter. Norges Bank acquired a new stake in Veracyte during the 4th quarter worth approximately $11,190,000. Seven Eight Capital LP bought a new position in Veracyte in the fourth quarter valued at approximately $1,118,000. Granahan Investment Management LLC boosted its holdings in shares of Veracyte by 32.1% in the fourth quarter. Granahan Investment Management LLC now owns 503,898 shares of the biotechnology company’s stock valued at $13,862,000 after buying an additional 122,574 shares during the period. Finally, Parkman Healthcare Partners LLC increased its position in shares of Veracyte by 5.1% during the fourth quarter. Parkman Healthcare Partners LLC now owns 237,316 shares of the biotechnology company’s stock worth $6,529,000 after acquiring an additional 11,444 shares in the last quarter.

Veracyte Trading Up 0.8 %

Shares of VCYT stock opened at $33.77 on Monday. The firm’s fifty day moving average price is $29.64 and its two-hundred day moving average price is $24.24. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $35.51. The firm has a market capitalization of $2.58 billion, a P/E ratio of -35.93 and a beta of 1.66.

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

Insider Activity

In related news, Director Evan/ Fa Jones sold 20,457 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $32.20, for a total value of $658,715.40. Following the transaction, the director now owns 34,343 shares in the company, valued at approximately $1,105,844.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Karin Eastham sold 7,500 shares of the company’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 transaction of $187,500.00. Following the completion of the sale, the director now owns 33,228 shares of the company’s stock, valued at approximately $830,700. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Evan/ Fa Jones sold 20,457 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $32.20, for a total transaction of $658,715.40. Following the sale, the director now owns 34,343 shares in the company, valued at approximately $1,105,844.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,918 shares of company stock valued at $1,399,541. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. Needham & Company LLC upped their price objective on Veracyte from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.25.

Veracyte 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.