Aigen Investment Management LP Trims Position in Veracyte, Inc. (NASDAQ:VCYT)

Aigen Investment Management LP lessened its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 46.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,662 shares of the biotechnology company’s stock after selling 7,593 shares during the quarter. Aigen Investment Management LP’s holdings in Veracyte were worth $466,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. First Trust Advisors LP grew its holdings in Veracyte by 144.4% during the 4th quarter. First Trust Advisors LP now owns 42,854 shares of the biotechnology company’s stock valued at $2,097,000 after buying an additional 25,318 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of Veracyte during the 4th quarter valued at about $2,261,000. Credit Suisse AG lifted its position in Veracyte by 22.0% in the 4th quarter. Credit Suisse AG now owns 96,994 shares of the biotechnology company’s stock worth $4,747,000 after buying an additional 17,501 shares during the last quarter. Swiss National Bank lifted its position in Veracyte by 16.3% in the 1st quarter. Swiss National Bank now owns 149,100 shares of the biotechnology company’s stock worth $8,014,000 after buying an additional 20,900 shares during the last quarter. Finally, OneAscent Wealth Management LLC bought a new stake in Veracyte in the 4th quarter worth approximately $202,000.

Several brokerages have weighed in on VCYT. Zacks Investment Research downgraded Veracyte from a “hold” rating to a “sell” rating in a research report on Wednesday, April 21st. TheStreet cut Veracyte from a “c-” rating to a “d+” rating in a research note on Wednesday, May 26th. Truist cut their target price on Veracyte from $84.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, May 18th. SVB Leerink cut their target price on Veracyte from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 11th. Finally, Morgan Stanley lowered their price target on Veracyte from $65.00 to $45.00 and set an “underweight” rating on the stock in a report on Wednesday, May 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $54.67.

In other Veracyte news, Director Jens Holstein purchased 2,000 shares of Veracyte stock in a transaction that occurred on Thursday, June 3rd. The stock was bought at an average price of $35.19 per share, with a total value of $70,380.00. Following the acquisition, the director now owns 2,000 shares of the company’s stock, valued at approximately $70,380. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Giulia C. Kennedy sold 9,081 shares of the business’s stock in a transaction that occurred on Friday, June 4th. The stock was sold at an average price of $34.63, for a total value of $314,475.03. Following the sale, the insider now owns 57,218 shares of the company’s stock, valued at $1,981,459.34. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

Shares of VCYT stock opened at $36.69 on Friday. Veracyte, Inc. has a 52-week low of $22.69 and a 52-week high of $86.03. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -33.35 and a beta of 0.73. The business’s 50 day simple moving average is $43.98.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Monday, May 10th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.01. Veracyte had a negative return on equity of 5.91% and a negative net margin of 52.87%. The business had revenue of $36.70 million during the quarter, compared to analyst estimates of $34.52 million. Research analysts anticipate that Veracyte, Inc. will post -0.79 EPS for the current year.

Veracyte Company Profile

Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas, which are used to identify patients with benign thyroid nodules among those with indeterminate cytopathology results in order to rule out unnecessary thyroid surgery; Percepta Genomic Sequencing Classifier for lung cancer diagnosis; Envisia Genomic Classifier that help physicians to differentiate idiopathic pulmonary fibrosis from other interstitial lung diseases without the need for surgery; and Prosigna Breast Cancer Prognostic Gene Signature Assay test that informs next steps for patients with early-stage breast cancer, as well as provides cancer subtype classification information.

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Institutional Ownership by Quarter for Veracyte (NASDAQ:VCYT)

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