52,519 Shares in Veracyte, Inc. (NASDAQ:VCYT) Purchased by Phocas Financial Corp.

Phocas Financial Corp. acquired a new stake in shares of Veracyte, Inc. (NASDAQ:VCYT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 52,519 shares of the biotechnology company’s stock, valued at approximately $1,788,000. Phocas Financial Corp. owned about 0.07% of Veracyte as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in shares of Veracyte by 2,331.6% during the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 1,329 shares during the period. CWM LLC increased its position in Veracyte by 168.3% during the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 951 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Veracyte during the 2nd quarter worth approximately $58,000. Signature Resources Capital Management LLC acquired a new stake in shares of Veracyte in the 2nd quarter valued at approximately $83,000. Finally, nVerses Capital LLC purchased a new stake in shares of Veracyte in the second quarter valued at approximately $85,000.

Insider Transactions at Veracyte

In related news, Director Evan/ Fa Jones sold 5,173 shares of the firm’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 transaction of $182,244.79. Following the sale, the director now owns 34,343 shares in the company, valued at approximately $1,209,903.89. This trade represents a 13.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Leite sold 5,479 shares of the business’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 completion of the transaction, the insider now owns 76,174 shares of the company’s stock, valued at $2,268,461.72. This trade represents a 6.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Veracyte Stock Performance

Shares of NASDAQ:VCYT opened at $39.15 on Wednesday. Veracyte, Inc. has a one year low of $18.61 and a one year high of $41.43. The stock has a market cap of $3.03 billion, a PE ratio of -261.00 and a beta of 1.67. The business’s fifty day moving average price is $34.22 and its two-hundred day moving average price is $27.83.

Veracyte (NASDAQ:VCYT) last posted 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. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The firm had revenue of $115.86 million during the quarter, compared to analysts’ expectations of $109.81 million. During the same quarter last year, the business posted ($0.03) EPS. The firm’s quarterly revenue was up 28.6% compared to the same quarter last year. As a group, equities research analysts predict that Veracyte, Inc. will post 0.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on VCYT shares. Leerink Partners increased their price objective on Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. UBS Group increased their price target on shares of Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Wolfe Research started coverage on shares of Veracyte in a research note on Friday, November 15th. They issued an “outperform” rating and a $50.00 price objective for the company. Needham & Company LLC upped their target price on shares of Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley lifted their price target on shares of Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $41.25.

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.