Quantum Private Wealth LLC Makes New Investment in Veracyte, Inc. (NASDAQ:VCYT)

Quantum Private Wealth LLC purchased a new position in Veracyte, Inc. (NASDAQ:VCYT) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 6,625 shares of the biotechnology company’s stock, valued at approximately $226,000.

Several other institutional investors also recently modified their holdings of VCYT. Blue Trust Inc. boosted its stake in Veracyte by 2,331.6% in the 2nd quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 1,329 shares in the last quarter. CWM LLC boosted its stake in Veracyte by 168.3% in the 2nd 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. Castleview Partners LLC acquired a new stake in Veracyte in the 3rd quarter valued at $87,000. Values First Advisors Inc. acquired a new stake in Veracyte in the 3rd quarter valued at $91,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Veracyte in the 2nd quarter valued at $58,000.

Insider Activity at Veracyte

In other Veracyte news, 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 value of $658,715.40. Following the completion of the sale, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider John Leite sold 5,479 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total transaction of $163,164.62. Following the completion of the transaction, the insider now directly owns 76,174 shares of the company’s stock, valued at $2,268,461.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Evan/ Fa Jones sold 20,457 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $32.20, for a total value of $658,715.40. Following the transaction, the director now directly owns 34,343 shares of the company’s stock, valued at $1,105,844.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,109 shares of company stock worth $1,004,125. 1.30% of the stock is owned by insiders.

Veracyte Stock Performance

VCYT stock opened at $37.46 on Friday. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $41.43. The business has a fifty day moving average of $33.17 and a 200-day moving average of $26.86.

Veracyte (NASDAQ:VCYT) last released its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.17. The company had revenue of $115.86 million during the quarter, compared to the consensus estimate of $109.81 million. Veracyte had a positive return on equity of 3.07% and a negative net margin of 2.18%. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, research analysts expect that Veracyte, Inc. will post 0.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on VCYT shares. Needham & Company LLC boosted their price target on Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group boosted their price objective on Veracyte from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley boosted their price objective on Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. Leerink Partners boosted their price objective on Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, UBS Group boosted their price objective on Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.00.

About Veracyte

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.