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

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

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Veracyte by 3.7% in the first quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock worth $163,649,000 after acquiring an additional 266,660 shares in the last quarter. Champlain Investment Partners LLC raised its position in shares of Veracyte by 23.3% during the 1st quarter. Champlain Investment Partners LLC now owns 2,697,600 shares of the biotechnology company’s stock valued at $59,779,000 after buying an additional 509,340 shares in the last quarter. William Blair Investment Management LLC raised its position in Veracyte by 67.4% in the 2nd quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company’s stock worth $26,907,000 after purchasing an additional 500,020 shares during the period. Bamco Inc. NY grew its holdings in Veracyte by 46.3% in the 1st quarter. Bamco Inc. NY now owns 1,115,806 shares of the biotechnology company’s stock worth $24,726,000 after acquiring an additional 353,000 shares during the last quarter. Finally, Granite Investment Partners LLC raised its holdings in Veracyte by 2.1% in the second quarter. Granite Investment Partners LLC now owns 934,994 shares of the biotechnology company’s stock worth $20,261,000 after purchasing an additional 19,244 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts recently commented on VCYT shares. UBS Group lifted their price objective on Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC increased their price target on Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Wolfe Research assumed coverage on shares of Veracyte in a research note on Friday. They issued an “outperform” rating and a $50.00 price objective for the company. The Goldman Sachs Group boosted their price target on shares of Veracyte from $34.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Scotiabank increased their price target on Veracyte from $40.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Veracyte Price Performance

Veracyte stock opened at $35.94 on Friday. The stock’s 50 day moving average price is $33.92 and its 200 day moving average price is $27.50. The company has a market cap of $2.79 billion, a PE ratio of -239.60 and a beta of 1.67. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $41.43.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.16. The company had revenue of $115.86 million for the quarter, compared to the consensus estimate of $109.81 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The company’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period last year, the business posted ($0.03) EPS. On average, equities research analysts anticipate that Veracyte, Inc. will post 0.16 EPS for the current fiscal year.

Insider Transactions at Veracyte

In other Veracyte news, 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 transaction of $163,164.62. Following the completion of the transaction, the insider now directly owns 76,174 shares of the company’s stock, valued at $2,268,461.72. This trade represents a 6.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Evan/ Fa Jones sold 5,173 shares of the company’s stock in a transaction that occurred 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 directly owns 34,343 shares in the company, valued at approximately $1,209,903.89. This represents a 13.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Veracyte Company 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.