Assenagon Asset Management S.A. Raises Holdings in Veracyte, Inc. (NASDAQ:VCYT)

Assenagon Asset Management S.A. increased its position in Veracyte, Inc. (NASDAQ:VCYT) by 127.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 29,455 shares of the biotechnology company’s stock after buying an additional 16,512 shares during the period. Assenagon Asset Management S.A.’s holdings in Veracyte were worth $1,003,000 at the end of the most recent quarter.

Other large 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 raised its position in 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 purchasing an additional 951 shares during the period. Castleview Partners LLC purchased a new position in Veracyte in the third quarter valued at about $87,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Veracyte in the second quarter valued at about $58,000. Finally, Signature Resources Capital Management LLC purchased a new position in Veracyte in the second quarter valued at about $83,000.

Insider Buying and Selling

In related news, Director Evan/ Fa Jones sold 20,457 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $32.20, for a total transaction of $658,715.40. Following the sale, the director now owns 34,343 shares in the company, valued at $1,105,844.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jens Holstein sold 5,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $29.00, for a total transaction of $145,000.00. Following the sale, the director now owns 27,878 shares in the company, valued at $808,462. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Evan/ Fa Jones sold 20,457 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $32.20, for a total transaction of $658,715.40. Following the sale, the director now owns 34,343 shares in the company, valued at approximately $1,105,844.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,141 shares of company stock worth $1,180,116 over the last quarter. 1.30% of the stock is owned by company insiders.

Veracyte Stock Performance

Shares of Veracyte stock opened at $34.31 on Friday. The firm has a market cap of $2.64 billion, a PE ratio of -45.75 and a beta of 1.67. The firm’s 50-day simple moving average is $32.83 and its 200-day simple moving average is $26.44. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $35.51.

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

Wall Street Analyst Weigh In

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

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.