Stephens Inc. AR Purchases New Shares in Veracyte, Inc. (NASDAQ:VCYT)

Posted by MarketBeat News on Aug 4th, 2022

Stephens Inc. AR purchased a new stake in shares of Veracyte, Inc. (NASDAQ:VCYT – Get Rating) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 15,277 shares of the biotechnology company’s stock, valued at approximately $421,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its holdings in Veracyte by 23.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 59,630 shares of the biotechnology company’s stock valued at $1,644,000 after buying an additional 11,457 shares during the period. State of New Jersey Common Pension Fund D increased its stake in Veracyte by 78.9% in the first quarter. State of New Jersey Common Pension Fund D now owns 101,903 shares of the biotechnology company’s stock worth $2,809,000 after purchasing an additional 44,933 shares during the period. FDx Advisors Inc. increased its stake in Veracyte by 48.1% in the first quarter. FDx Advisors Inc. now owns 8,764 shares of the biotechnology company’s stock worth $242,000 after purchasing an additional 2,845 shares during the period. Values First Advisors Inc. increased its stake in Veracyte by 42.9% in the first quarter. Values First Advisors Inc. now owns 15,899 shares of the biotechnology company’s stock worth $438,000 after purchasing an additional 4,775 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc increased its stake in Veracyte by 5.1% in the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 470,811 shares of the biotechnology company’s stock worth $12,976,000 after purchasing an additional 22,700 shares during the period.

Veracyte Trading Down 6.0 %

Shares of Veracyte stock opened at $25.05 on Thursday. The firm has a market cap of $1.79 billion, a P/E ratio of -36.84 and a beta of 1.11. Veracyte, Inc. has a 12 month low of $14.85 and a 12 month high of $54.13. The stock’s fifty day moving average price is $21.59 and its 200-day moving average price is $23.82.

Veracyte (NASDAQ:VCYT – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The biotechnology company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.03. The firm had revenue of $67.78 million for the quarter, compared to analyst estimates of $61.98 million. Veracyte had a negative return on equity of 4.09% and a negative net margin of 19.22%. During the same quarter last year, the firm posted ($0.11) earnings per share. Analysts forecast that Veracyte, Inc. will post -0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reiterated a “maintains” rating on shares of Veracyte in a research note on Wednesday. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Veracyte has an average rating of “Moderate Buy” and a consensus target price of $42.17.

Insider Activity at Veracyte

In related news, Director Jens Holstein sold 8,720 shares of the firm’s stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $16.27, for a total transaction of $141,874.40. Following the sale, the director now owns 2,000 shares of the company’s stock, valued at $32,540. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Jens Holstein sold 8,720 shares of the firm’s stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $16.27, for a total transaction of $141,874.40. Following the sale, the director now owns 2,000 shares of the company’s stock, valued at $32,540. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc Stapley acquired 60,000 shares of the company’s stock in a transaction that occurred on Friday, June 10th. The shares were bought at an average cost of $16.33 per share, for a total transaction of $979,800.00. Following the transaction, the chief executive officer now owns 159,761 shares of the company’s stock, valued at $2,608,897.13. The disclosure for this purchase can be found here. 2.90% of the stock is owned by corporate insiders.

Veracyte Company Profile

(Get Rating)

Veracyte, Inc operates as a diagnostics company worldwide. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas, which are used to determine patients with indeterminate results are benign to avoid unnecessary surgery; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Genomic Sequencing Classifier and Percepta Nasal Swab Test for lung cancer diagnosis; Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis; and Immunoscore Colon Cancer test for colon cancer diagnosis.