Capital Impact Advisors LLC Purchases Shares of 3,824 Veracyte, Inc. (NASDAQ:VCYT)

Capital Impact Advisors LLC acquired a new stake in shares of Veracyte, Inc. (NASDAQ:VCYT – Get Rating) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 3,824 shares of the biotechnology company’s stock, valued at approximately $103,000.

Several other large investors have also added to or reduced their stakes in the company. Alpha Paradigm Partners LLC lifted its holdings in shares of Veracyte by 165.7% in the 3rd quarter. Alpha Paradigm Partners LLC now owns 131,064 shares of the biotechnology company’s stock valued at $2,176,000 after acquiring an additional 81,733 shares during the last quarter. BNP Paribas Arbitrage SNC boosted its position in Veracyte by 600.2% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 126,735 shares of the biotechnology company’s stock valued at $2,104,000 after buying an additional 108,635 shares during the period. State Street Corp grew its stake in Veracyte by 1.5% in the 3rd quarter. State Street Corp now owns 5,223,896 shares of the biotechnology company’s stock worth $86,717,000 after acquiring an additional 79,565 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Veracyte by 439.0% during the third quarter. Mercer Global Advisors Inc. ADV now owns 65,760 shares of the biotechnology company’s stock worth $1,092,000 after acquiring an additional 53,560 shares during the period. Finally, Twinbeech Capital LP bought a new stake in shares of Veracyte during the third quarter valued at approximately $1,941,000.

Insider Activity at Veracyte

In other Veracyte news, Director Bonnie H. Anderson sold 34,000 shares of the stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $26.35, for a total transaction of $895,900.00. Following the sale, the director now directly owns 62,961 shares in the company, valued at approximately $1,659,022.35. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Bonnie H. Anderson sold 63,247 shares of the firm’s stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $25.13, for a total value of $1,589,397.11. Following the sale, the director now owns 62,961 shares of the company’s stock, valued at $1,582,209.93. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bonnie H. Anderson sold 34,000 shares of the firm’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $26.35, for a total transaction of $895,900.00. Following the completion of the sale, the director now owns 62,961 shares in the company, valued at $1,659,022.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,247 shares of company stock worth $3,259,137. Corporate insiders own 2.90% of the company’s stock.

Veracyte Stock Performance

Shares of Veracyte stock opened at $23.31 on Friday. Veracyte, Inc. has a one year low of $14.85 and a one year high of $32.40. The business’s 50 day moving average price is $24.80 and its 200 day moving average price is $23.02. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -46.62 and a beta of 1.44.

Veracyte (NASDAQ:VCYT – Get Rating) last announced its earnings results on Wednesday, February 22nd. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. Veracyte had a negative return on equity of 3.42% and a negative net margin of 12.33%. The company had revenue of $80.30 million for the quarter, compared to analyst estimates of $74.92 million. During the same quarter in the previous year, the company earned ($0.15) earnings per share. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. On average, analysts predict that Veracyte, Inc. will post -0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Scotiabank started coverage on Veracyte in a report on Wednesday, January 4th. They set a “sector outperform” rating and a $33.00 price objective on the stock. StockNews.com initiated coverage on Veracyte in a research report on Thursday. They issued a “hold” rating for the company. Needham & Company LLC increased their price objective on Veracyte from $33.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, February 23rd. Finally, Raymond James lowered Veracyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Veracyte currently has a consensus rating of “Hold” and a consensus price target of $30.20.

Veracyte Profile

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Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.