Vinva Investment Management Ltd Buys Shares of 15,266 Veracyte, Inc. (NASDAQ:VCYT)

Vinva Investment Management Ltd acquired a new position in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,266 shares of the biotechnology company's stock, valued at approximately $520,000.

Several other institutional investors and hedge funds also recently made changes to their positions in VCYT. BNP Paribas Financial Markets lifted its holdings in Veracyte by 438.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 98,422 shares of the biotechnology company's stock worth $3,350,000 after buying an additional 80,145 shares during the period. FMR LLC lifted its position in shares of Veracyte by 33.4% in the 3rd quarter. FMR LLC now owns 65,977 shares of the biotechnology company's stock worth $2,246,000 after purchasing an additional 16,536 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Veracyte by 2,188.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 6,087 shares of the biotechnology company's stock valued at $207,000 after purchasing an additional 5,821 shares during the period. Algert Global LLC grew its holdings in Veracyte by 411.1% in the third quarter. Algert Global LLC now owns 201,697 shares of the biotechnology company's stock worth $6,866,000 after purchasing an additional 162,236 shares during the period. Finally, Cerity Partners LLC bought a new position in Veracyte in the third quarter worth approximately $431,000.

Veracyte Stock Performance

VCYT traded up $0.06 on Friday, hitting $42.95. 490,418 shares of the company were exchanged, compared to its average volume of 897,051. Veracyte, Inc. has a 12 month low of $18.61 and a 12 month high of $44.16. The firm has a fifty day simple moving average of $35.70 and a two-hundred day simple moving average of $29.03. The stock has a market capitalization of $3.33 billion, a PE ratio of -286.33 and a beta of 1.67.

Veracyte (NASDAQ:VCYT - Get Free Report) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.16. The firm had revenue of $115.86 million for the quarter, compared to analysts' expectations of $109.81 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The business's revenue was up 28.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.03) earnings per share. On average, equities analysts expect that Veracyte, Inc. will post 0.32 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wolfe Research initiated coverage on Veracyte in a report on Friday, November 15th. They set an "outperform" rating and a $50.00 price target for the company. Guggenheim began coverage on Veracyte in a research note on Thursday, October 10th. They issued a "buy" rating and a $40.00 target price on the stock. Scotiabank raised their target price on Veracyte from $40.00 to $44.00 and gave the company a "sector outperform" rating in a research report on Friday, November 8th. Needham & Company LLC boosted their price target on shares of Veracyte from $37.00 to $44.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, Leerink Partners increased their price objective on Veracyte from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.25.

Insiders Place Their Bets

In other Veracyte news, CAO Jonathan Wygant sold 5,032 shares of the company's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $42.89, for a total value of $215,822.48. Following the sale, the chief accounting officer now owns 42,313 shares in the company, valued at approximately $1,814,804.57. This represents a 10.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Leite sold 5,479 shares of Veracyte stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the transaction, the insider now owns 76,174 shares of the company's stock, valued at $2,268,461.72. The trade was a 6.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,684 shares of company stock worth $561,232 over the last three months. Company insiders own 1.30% of the company's stock.

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.