Axiom International Investors LLC DE lowered its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 17.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 237,798 shares of the biotechnology company’s stock after selling 49,339 shares during the period. Axiom International Investors LLC DE owned approximately 0.70% of Veracyte worth $2,183,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in VCYT. Numeric Investors LLC purchased a new stake in Veracyte during the fourth quarter worth $785,000. First Light Asset Management LLC boosted its stake in Veracyte by 20.6% in the fourth quarter. First Light Asset Management LLC now owns 692,210 shares of the biotechnology company’s stock worth $5,358,000 after buying an additional 118,431 shares during the period. Denver Investment Advisors LLC boosted its stake in Veracyte by 329.5% in the fourth quarter. Denver Investment Advisors LLC now owns 61,515 shares of the biotechnology company’s stock worth $476,000 after buying an additional 47,192 shares during the period. Two Sigma Investments LP bought a new stake in Veracyte during the fourth quarter worth approximately $285,000. Finally, GSA Capital Partners LLP bought a new stake in Veracyte during the fourth quarter worth approximately $117,000. 63.10% of the stock is owned by institutional investors and hedge funds.
Shares of Veracyte, Inc. (NASDAQ:VCYT) traded up 2.48% during mid-day trading on Monday, reaching $7.86. 68,126 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $8.06 and a 200 day moving average price of $8.07. The stock’s market cap is $266.22 million. Veracyte, Inc. has a 52 week low of $4.82 and a 52 week high of $9.71.
Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Wednesday, May 3rd. The biotechnology company reported ($0.24) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.24). The firm had revenue of $16.43 million during the quarter, compared to the consensus estimate of $18.09 million. Veracyte had a negative return on equity of 66.79% and a negative net margin of 43.40%. Equities research analysts predict that Veracyte, Inc. will post ($0.92) EPS for the current year.
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Several analysts have commented on VCYT shares. Zacks Investment Research upgraded shares of Veracyte from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Friday, February 24th. Cantor Fitzgerald set a $13.00 price target on shares of Veracyte and gave the stock a “buy” rating in a report on Thursday, March 2nd. Finally, BTIG Research reaffirmed a “buy” rating and set a $12.00 target price on shares of Veracyte in a report on Friday, March 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Veracyte presently has a consensus rating of “Buy” and a consensus price target of $11.20.
In other Veracyte news, Chairman Bonnie H. Anderson sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $9.09, for a total transaction of $45,450.00. Following the completion of the transaction, the chairman now owns 15,000 shares in the company, valued at approximately $136,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.40% of the company’s stock.
Veracyte, Inc is a genomic diagnostics company. The Company uses genomic technology to resolve diagnostic ambiguity. It targets diseases in which patients undergo invasive diagnostic procedures. Its products combine genomic technology, clinical science and machine learning. The Company commercializes over three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis.
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