AlphaMark Advisors LLC Makes New Investment in Veracyte, Inc. (NASDAQ:VCYT)

AlphaMark Advisors LLC bought a new stake in Veracyte, Inc. (NASDAQ:VCYT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,634 shares of the biotechnology company’s stock, valued at approximately $362,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. raised its position 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 purchasing an additional 1,329 shares during the period. CWM LLC grew its stake in shares of Veracyte by 168.3% in the second quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 951 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Veracyte during the 2nd quarter valued at about $58,000. Signature Resources Capital Management LLC acquired a new position in Veracyte during the 2nd quarter worth approximately $83,000. Finally, nVerses Capital LLC purchased a new position in Veracyte in the 2nd quarter worth approximately $85,000.

Veracyte Stock Performance

VCYT opened at $34.31 on Friday. The company has a market capitalization of $2.62 billion, a P/E ratio of -36.50 and a beta of 1.67. The company has a 50-day moving average of $32.37 and a 200-day moving average of $25.39. Veracyte, Inc. has a 1-year low of $18.61 and a 1-year high of $35.51.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.10. The firm had revenue of $114.43 million for the quarter, compared to analysts’ expectations of $100.27 million. Veracyte had a positive return on equity of 1.52% and a negative net margin of 13.52%. Veracyte’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. As a group, sell-side analysts expect that Veracyte, Inc. will post 0.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

VCYT has been the topic of a number of analyst reports. Guggenheim initiated coverage on shares of Veracyte in a research note on Thursday, October 10th. They set a “buy” rating and a $40.00 price objective on the stock. Needham & Company LLC lifted their price target on shares of Veracyte from $31.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Leerink Partners upped their price objective on shares of Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday. UBS Group started coverage on Veracyte in a research note on Wednesday. They set a “buy” rating and a $43.00 target price for the company. Finally, Morgan Stanley boosted their price target on Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Veracyte has an average rating of “Moderate Buy” and a consensus price target of $35.67.

Insider Buying and Selling

In other Veracyte news, Director Evan/ Fa Jones sold 1,032 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $30.03, for a total transaction of $30,990.96. Following the completion of the sale, the director now owns 46,413 shares in the company, valued at $1,393,782.39. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Veracyte news, Director Evan/ Fa Jones sold 1,032 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.03, for a total value of $30,990.96. Following the transaction, the director now owns 46,413 shares of the company’s stock, valued at $1,393,782.39. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jens Holstein sold 5,000 shares of Veracyte stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $29.00, for a total value of $145,000.00. Following the completion of the transaction, the director now owns 27,878 shares of the company’s stock, valued at approximately $808,462. 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 37,141 shares of company stock worth $1,180,116 over the last ninety days. 1.30% of the stock is owned by insiders.

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.