Aigen Investment Management LP Makes New Investment in Veracyte, Inc. (NASDAQ:VCYT)

Aigen Investment Management LP acquired a new stake in Veracyte, Inc. (NASDAQ:VCYT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,412 shares of the biotechnology company’s stock, valued at approximately $354,000.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. raised its position in Veracyte by 2,331.6% during the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 1,329 shares during the period. CWM LLC boosted its stake in Veracyte by 168.3% during the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 951 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Veracyte during the 2nd quarter valued at approximately $58,000. Signature Resources Capital Management LLC bought a new stake in shares of Veracyte in the 2nd quarter worth approximately $83,000. Finally, nVerses Capital LLC bought a new stake in shares of Veracyte in the 2nd quarter worth approximately $85,000.

Insider Activity at Veracyte

In other Veracyte news, Director Evan/ Fa Jones sold 5,173 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $35.23, for a total transaction of $182,244.79. Following the completion of the sale, the director now owns 34,343 shares of the company’s stock, valued at $1,209,903.89. This trade represents a 13.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Leite sold 5,479 shares of the firm’s 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 sale, the insider now directly owns 76,174 shares of the company’s stock, valued at $2,268,461.72. This represents a 6.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Veracyte Stock Performance

Shares of VCYT stock opened at $35.94 on Friday. The company has a market capitalization of $2.79 billion, a P/E ratio of -239.60 and a beta of 1.67. Veracyte, Inc. has a 52 week low of $18.61 and a 52 week high of $41.43. The company’s 50 day moving average price is $33.92 and its two-hundred day moving average price is $27.50.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.16. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The company had revenue of $115.86 million during the quarter, compared to analysts’ expectations of $109.81 million. During the same period last year, the business earned ($0.03) EPS. The business’s quarterly revenue was up 28.6% on a year-over-year basis. Analysts forecast that Veracyte, Inc. will post 0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Needham & Company LLC raised their price objective on Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Scotiabank upped their price objective on Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a report on Friday, November 8th. UBS Group upped their target price on shares of Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley upped their target price 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. Finally, The Goldman Sachs Group increased their price target on shares of Veracyte from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

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.