Interchange Capital Partners LLC Makes New Investment in Veracyte, Inc. (NASDAQ:VCYT)

by · The Cerbat Gem

Interchange Capital Partners LLC purchased a new position in Veracyte, Inc. (NASDAQ:VCYT – Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,276 shares of the biotechnology company’s stock, valued at approximately $214,000.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Veracyte by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock worth $163,649,000 after purchasing an additional 266,660 shares during the period. Nikko Asset Management Americas Inc. increased its stake in shares of Veracyte by 7.8% during the first quarter. Nikko Asset Management Americas Inc. now owns 3,347,436 shares of the biotechnology company’s stock valued at $74,012,000 after buying an additional 242,760 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Veracyte by 7.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,347,436 shares of the biotechnology company’s stock valued at $74,179,000 after buying an additional 242,760 shares during the period. Champlain Investment Partners LLC increased its stake in shares of Veracyte by 23.3% during the first 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 during the period. Finally, William Blair Investment Management LLC increased its stake in shares of Veracyte by 67.4% during the second quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company’s stock valued at $26,907,000 after buying an additional 500,020 shares during the period.

Analyst Ratings Changes

Several equities analysts have recently issued reports on VCYT shares. Needham & Company LLC boosted their target price on Veracyte from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Guggenheim started coverage on Veracyte in a research note on Thursday, October 10th. They set a “buy” rating and a $40.00 target price on the stock. Morgan Stanley boosted their target price on Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. UBS Group began coverage on Veracyte in a research note on Wednesday, October 16th. They set a “buy” rating and a $43.00 target price on the stock. Finally, Leerink Partners lifted their price target on Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.67.

View Our Latest Stock Analysis on VCYT

Veracyte Stock Up 1.7 %

NASDAQ VCYT opened at $34.31 on Friday. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $35.51. The firm has a market capitalization of $2.64 billion, a PE ratio of -45.75 and a beta of 1.67. The stock’s 50 day moving average is $32.83 and its 200 day moving average is $26.38.

Veracyte (NASDAQ:VCYT – Get Free Report) last released its earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.10. Veracyte had a positive return on equity of 1.52% and a negative net margin of 13.52%. The business had revenue of $114.43 million for the quarter, compared to the consensus estimate of $100.27 million. During the same period in the previous year, the company posted ($0.12) earnings per share. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. On average, research analysts anticipate that Veracyte, Inc. will post 0.16 earnings per share for the current year.

Insider Activity

In other news, Director Jens Holstein sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $29.00, for a total transaction of $145,000.00. Following the transaction, the director now directly owns 27,878 shares of the company’s stock, valued at $808,462. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Jens Holstein sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $29.00, for a total transaction of $145,000.00. Following the transaction, the director now directly owns 27,878 shares of the company’s stock, valued at $808,462. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Leite sold 5,479 shares of the company’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 transaction, the insider now directly owns 76,174 shares in the company, valued at approximately $2,268,461.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,141 shares of company stock valued at $1,180,116 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Veracyte Profile

(Free Report)

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.

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