nVerses Capital LLC Raises Stock Holdings in Veracyte, Inc. (NASDAQ:VCYT)

nVerses Capital LLC grew its position in Veracyte, Inc. (NASDAQ:VCYT) by 66.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,500 shares of the biotechnology company’s stock after acquiring an additional 2,600 shares during the quarter. nVerses Capital LLC’s holdings in Veracyte were worth $221,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of VCYT. Blue Trust Inc. lifted its position in Veracyte by 2,331.6% during the 2nd quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 1,329 shares during the period. CWM LLC lifted 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 worth $33,000 after purchasing an additional 951 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Veracyte in the 2nd quarter valued at $58,000. Signature Resources Capital Management LLC acquired a new position in Veracyte in the 2nd quarter valued at $83,000. Finally, SG Americas Securities LLC purchased a new position in Veracyte during the 1st quarter worth $140,000.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on VCYT shares. 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 target on the stock. Leerink Partners increased their target price on Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday. Needham & Company LLC upped their price objective on Veracyte from $31.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. UBS Group started coverage on Veracyte in a research report on Wednesday. They issued a “buy” rating and a $43.00 price objective for the company. Finally, Morgan Stanley boosted their target price on shares of Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.67.

Insider Buying and Selling

In other Veracyte news, Director Evan/ Fa Jones sold 1,032 shares of the 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 sale, the director now owns 46,413 shares in the company, valued at approximately $1,393,782.39. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Veracyte news, Director Jens Holstein sold 5,000 shares of Veracyte stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $29.00, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Evan/ Fa Jones sold 1,032 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $30.03, for a total value of $30,990.96. Following the transaction, the director now directly owns 46,413 shares in the company, valued at approximately $1,393,782.39. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,141 shares of company stock worth $1,180,116 in the last ninety days. Insiders own 1.30% of the company’s stock.

Veracyte Stock Up 0.4 %

Shares of VCYT stock opened at $34.44 on Friday. The stock has a market cap of $2.63 billion, a P/E ratio of -36.64 and a beta of 1.67. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $35.51. The business has a fifty day simple moving average of $32.48 and a 200-day simple moving average of $25.48.

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

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.