AXQ Capital LP Buys New Shares in Veracyte, Inc. $VCYT

AXQ Capital LP bought a new position in shares of Veracyte, Inc. (NASDAQ:VCYT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,080 shares of the biotechnology company’s stock, valued at approximately $245,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of Veracyte during the 1st quarter worth about $33,003,000. Artisan Partners Limited Partnership raised its stake in Veracyte by 20.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 6,321,775 shares of the biotechnology company’s stock worth $170,878,000 after buying an additional 1,082,064 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Veracyte by 70.1% in the second quarter. Assenagon Asset Management S.A. now owns 830,099 shares of the biotechnology company’s stock worth $22,438,000 after acquiring an additional 342,038 shares in the last quarter. Picton Mahoney Asset Management grew its stake in Veracyte by 3,824.9% in the first quarter. Picton Mahoney Asset Management now owns 260,495 shares of the biotechnology company’s stock valued at $7,723,000 after acquiring an additional 253,858 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Veracyte by 259.0% during the second quarter. JPMorgan Chase & Co. now owns 336,978 shares of the biotechnology company’s stock valued at $9,109,000 after acquiring an additional 243,111 shares in the last quarter.

Veracyte Price Performance

VCYT opened at $46.70 on Tuesday. Veracyte, Inc. has a fifty-two week low of $22.61 and a fifty-two week high of $47.32. The firm has a market capitalization of $3.69 billion, a P/E ratio of 141.52 and a beta of 2.16. The company’s 50-day moving average is $36.81 and its 200 day moving average is $30.89.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.32 by $0.19. The firm had revenue of $131.87 million during the quarter, compared to analyst estimates of $124.62 million. Veracyte had a net margin of 5.50% and a return on equity of 6.07%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. Veracyte has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Veracyte, Inc. will post 0.68 earnings per share for the current year.

Insider Transactions at Veracyte

In other news, Director Jens Holstein sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $42.36, for a total transaction of $423,600.00. Following the completion of the sale, the director directly owned 27,199 shares of the company’s stock, valued at $1,152,149.64. This trade represents a 26.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marc Stapley sold 7,667 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $30.41, for a total transaction of $233,153.47. Following the completion of the transaction, the chief executive officer directly owned 334,185 shares in the company, valued at $10,162,565.85. This trade represents a 2.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 94,635 shares of company stock worth $3,913,604. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

VCYT has been the topic of a number of recent research reports. Wall Street Zen upgraded Veracyte from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 16th. UBS Group raised their price objective on shares of Veracyte from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Canaccord Genuity Group boosted their target price on shares of Veracyte from $40.00 to $43.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Veracyte in a research note on Wednesday, November 19th. Finally, Needham & Company LLC boosted their price objective on Veracyte from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.38.

Veracyte Company Profile

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.