AXQ Capital LP Invests $246,000 in Veracyte, Inc. (NASDAQ:VCYT)

AXQ Capital LP acquired a new position in Veracyte, Inc. (NASDAQ:VCYT – Get Rating) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 10,383 shares of the biotechnology company’s stock, valued at approximately $246,000.

Other large investors have also recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new stake in shares of Veracyte in the 1st quarter worth approximately $33,000. CI Investments Inc. boosted its position in shares of Veracyte by 358.8% during the fourth quarter. CI Investments Inc. now owns 1,991 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 1,557 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Veracyte by 712.9% during the second quarter. Captrust Financial Advisors now owns 3,219 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 2,823 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Veracyte during the first quarter valued at approximately $73,000. Finally, Great West Life Assurance Co. Can bought a new stake in shares of Veracyte during the third quarter valued at approximately $80,000.

Insider Buying and Selling at Veracyte

In other Veracyte news, Director Bonnie H. Anderson sold 34,000 shares of Veracyte stock in a transaction on Friday, April 14th. The stock was sold at an average price of $22.04, for a total transaction of $749,360.00. Following the completion of the transaction, the director now owns 42,681 shares in the company, valued at $940,689.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is owned by company insiders.

Veracyte Trading Down 1.7 %

Shares of NASDAQ:VCYT opened at $25.49 on Friday. The stock has a fifty day simple moving average of $22.77 and a two-hundred day simple moving average of $24.58. Veracyte, Inc. has a 12-month low of $14.92 and a 12-month high of $32.40.

Veracyte (NASDAQ:VCYT – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. The business had revenue of $82.40 million during the quarter, compared to analysts’ expectations of $75.75 million. Veracyte had a negative return on equity of 2.83% and a negative net margin of 9.70%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.20) earnings per share. Research analysts predict that Veracyte, Inc. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on VCYT shares. StockNews.com started coverage on Veracyte in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Needham & Company LLC lifted their price target on Veracyte from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.20.

About Veracyte

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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.