Interchange Capital Partners LLC Acquires New Stake in Veracyte, Inc. (NASDAQ:VCYT)

Interchange Capital Partners LLC acquired a new stake in shares of Veracyte, Inc. (NASDAQ:VCYT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,276 shares of the biotechnology company’s stock, valued at approximately $214,000.

A number of other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. increased 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 worth $31,000 after buying an additional 1,329 shares in the last quarter. CWM LLC increased its position in Veracyte by 168.3% in the second quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock worth $33,000 after buying an additional 951 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Veracyte in the second quarter worth about $58,000. Signature Resources Capital Management LLC purchased a new stake in Veracyte in the second quarter worth about $83,000. Finally, nVerses Capital LLC purchased a new stake in Veracyte in the second quarter worth about $85,000.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Leerink Partners increased their target price on Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Needham & Company LLC upped their price target on Veracyte from $31.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. UBS Group initiated coverage on shares of Veracyte in a research report on Wednesday, October 16th. They set a “buy” rating and a $43.00 target price for the company. Guggenheim initiated coverage on shares of Veracyte in a report on Thursday, October 10th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Morgan Stanley lifted their price target on shares of Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Veracyte has a consensus rating of “Moderate Buy” and a consensus target price of $35.67.

Veracyte Stock Up 1.7 %

Shares of NASDAQ:VCYT opened at $34.31 on Friday. Veracyte, Inc. has a 52 week low of $18.61 and a 52 week high of $35.51. The stock has a market capitalization of $2.64 billion, a P/E ratio of -45.75 and a beta of 1.67. The firm has a fifty day simple moving average of $32.83 and a two-hundred day simple moving average of $26.38.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. Veracyte had a negative net margin of 13.52% and a positive return on equity of 1.52%. The business had revenue of $114.43 million during the quarter, compared to analysts’ expectations of $100.27 million. During the same period last year, the company posted ($0.12) EPS. The business’s revenue was up 26.7% on a year-over-year basis. On average, analysts expect that Veracyte, Inc. will post 0.16 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Evan/ Fa Jones sold 5,173 shares of Veracyte stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.23, for a total transaction of $182,244.79. Following the completion of the transaction, the director now directly owns 34,343 shares of the company’s stock, valued at approximately $1,209,903.89. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Veracyte news, insider John Leite sold 5,479 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 76,174 shares of the company’s stock, valued at $2,268,461.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Evan/ Fa Jones sold 5,173 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.23, for a total transaction of $182,244.79. Following the completion of the sale, the director now directly owns 34,343 shares of the company’s stock, valued at approximately $1,209,903.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,141 shares of company stock valued at $1,180,116. Company insiders own 1.30% of the company’s stock.

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.