Intech Investment Management LLC Makes New $723,000 Investment in Veracyte, Inc. (NASDAQ:VCYT)

Intech Investment Management LLC bought a new stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 21,229 shares of the biotechnology company's stock, valued at approximately $723,000.

A number of other large investors have also recently made changes to their positions in VCYT. Blue Trust Inc. lifted its stake in Veracyte by 2,331.6% in 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 last quarter. CWM LLC raised its position in Veracyte by 168.3% in 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 last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Veracyte during the 2nd quarter worth $58,000. Signature Resources Capital Management LLC purchased a new position in Veracyte during the 2nd quarter worth $83,000. Finally, nVerses Capital LLC acquired a new position in Veracyte in the second quarter valued at $85,000.

Insider Buying and Selling at Veracyte

In related news, CAO Jonathan Wygant sold 5,032 shares of Veracyte stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $42.89, for a total transaction of $215,822.48. Following the completion of the transaction, the chief accounting officer now directly owns 42,313 shares in the company, valued at $1,814,804.57. The trade was a 10.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Evan/ Fa Jones sold 5,173 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $35.23, for a total value of $182,244.79. Following the sale, the director now owns 34,343 shares in the company, valued at approximately $1,209,903.89. This trade represents a 13.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,684 shares of company stock valued at $561,232. Insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

VCYT has been the subject of several recent research reports. Morgan Stanley increased their target price on shares of Veracyte from $26.00 to $28.00 and gave the stock an "underweight" rating in a research note on Monday, November 18th. Needham & Company LLC lifted their target price on Veracyte from $37.00 to $44.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Guggenheim started coverage on Veracyte in a report on Thursday, October 10th. They issued a "buy" rating and a $40.00 target price on the stock. The Goldman Sachs Group increased their price target on Veracyte from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, Wolfe Research assumed coverage on shares of Veracyte in a research note on Friday, November 15th. They issued an "outperform" rating and a $50.00 price objective on the stock. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $41.25.

Veracyte Stock Up 0.1 %

Shares of NASDAQ VCYT traded up $0.06 during midday trading on Friday, hitting $42.95. The company had a trading volume of 490,418 shares, compared to its average volume of 770,434. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of -286.33 and a beta of 1.67. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $44.16. The business has a 50-day simple moving average of $35.70 and a two-hundred day simple moving average of $29.03.

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

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.