RiverPark Advisors LLC Invests $166,000 in Veracyte, Inc. (NASDAQ:VCYT)

RiverPark Advisors LLC purchased a new position in shares of Veracyte, Inc. (NASDAQ:VCYT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,869 shares of the biotechnology company’s stock, valued at approximately $166,000.

A number of other hedge funds have also made changes to their positions in VCYT. Blue Trust Inc. grew its position 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 buying an additional 1,329 shares in the last quarter. CWM LLC boosted its holdings 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 purchasing an additional 951 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Veracyte in the second quarter worth $58,000. Signature Resources Capital Management LLC acquired a new position in Veracyte in the second quarter worth $83,000. Finally, nVerses Capital LLC acquired a new position in Veracyte in the second quarter worth $85,000.

Wall Street Analyst Weigh In

A number of research firms have commented on VCYT. Leerink Partners lifted their price objective on shares of Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. UBS Group raised their target price on Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC raised their target price on Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their target price on Veracyte from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, 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. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Veracyte has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Insider Activity at Veracyte

In related news, Director Evan/ Fa Jones sold 5,173 shares of Veracyte stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $35.23, for a total transaction of $182,244.79. Following the transaction, the director now directly owns 34,343 shares of the company’s stock, valued at $1,209,903.89. The trade was a 13.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Leite sold 5,479 shares of Veracyte stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total value of $163,164.62. Following the transaction, the insider now directly owns 76,174 shares in the company, valued at approximately $2,268,461.72. The trade was a 6.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Veracyte Stock Performance

Shares of NASDAQ VCYT opened at $35.94 on Friday. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $41.43. The firm’s 50-day simple moving average is $34.06 and its 200 day simple moving average is $27.61.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.16. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The business had revenue of $115.86 million for the quarter, compared to analysts’ expectations of $109.81 million. During the same period in the previous year, the business earned ($0.03) earnings per share. The company’s revenue was up 28.6% on a year-over-year basis. On average, sell-side analysts expect that Veracyte, Inc. will post 0.16 EPS for the current fiscal year.

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.