Veracyte, Inc. (NASDAQ:VCYT) Shares Acquired by Perkins Capital Management Inc.

Financial News Live · Oct 14, 2022 02:02

Perkins Capital Management Inc. lifted its holdings in Veracyte, Inc. (NASDAQ:VCYT – Get Rating) by 4.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,130 shares of the biotechnology company's stock after buying an additional 5,150 shares during the period. Veracyte comprises approximately 2.6% of Perkins Capital Management Inc.'s portfolio, making the stock its 9th biggest position. Perkins Capital Management Inc. owned about 0.18% of Veracyte worth $2,550,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. ARK Investment Management LLC boosted its position in Veracyte by 1.1% during the second quarter. ARK Investment Management LLC now owns 8,856,245 shares of the biotechnology company's stock valued at $155,693,000 after purchasing an additional 100,221 shares during the last quarter. Invesco Ltd. increased its stake in Veracyte by 0.4% during the first quarter. Invesco Ltd. now owns 4,131,597 shares of the biotechnology company's stock valued at $113,908,000 after acquiring an additional 17,566 shares during the period. State Street Corp increased its stake in Veracyte by 45.5% during the first quarter. State Street Corp now owns 3,945,870 shares of the biotechnology company's stock valued at $108,788,000 after acquiring an additional 1,234,244 shares during the period. Granahan Investment Management LLC increased its stake in Veracyte by 9.3% during the first quarter. Granahan Investment Management LLC now owns 1,960,736 shares of the biotechnology company's stock valued at $54,057,000 after acquiring an additional 166,341 shares during the period. Finally, Champlain Investment Partners LLC increased its stake in Veracyte by 2.9% during the first quarter. Champlain Investment Partners LLC now owns 1,818,305 shares of the biotechnology company's stock valued at $50,131,000 after acquiring an additional 50,805 shares during the period.

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Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on VCYT shares. Raymond James boosted their price target on Veracyte from $30.00 to $31.00 and gave the company an "outperform" rating in a research note on Thursday, August 4th. StockNews.com assumed coverage on Veracyte in a report on Wednesday. They set a "sell" rating on the stock. Finally, Needham & Company LLC lifted their price objective on Veracyte from $26.00 to $31.00 and gave the company a "buy" rating in a report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.50.

Veracyte Price Performance

Shares of VCYT traded up $0.23 on Thursday, hitting $16.14. The company's stock had a trading volume of 49,169 shares, compared to its average volume of 1,133,188. The company has a market capitalization of $1.16 billion, a PE ratio of -23.93 and a beta of 1.23. Veracyte, Inc. has a fifty-two week low of $14.85 and a fifty-two week high of $54.13. The company has a 50 day moving average price of $20.29 and a 200 day moving average price of $21.30.

Veracyte (NASDAQ:VCYT – Get Rating) last announced its earnings results on Tuesday, August 2nd. The biotechnology company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.08. The business had revenue of $72.86 million for the quarter, compared to the consensus estimate of $67.37 million. Veracyte had a negative return on equity of 4.05% and a negative net margin of 18.13%. On average, equities analysts forecast that Veracyte, Inc. will post -0.8 EPS for the current year.

Veracyte Profile

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Veracyte, Inc operates as a diagnostics company worldwide. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas, which are used to determine patients with indeterminate results are benign to avoid unnecessary surgery; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Genomic Sequencing Classifier and Percepta Nasal Swab Test for lung cancer diagnosis; Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis; and Immunoscore Colon Cancer test for colon cancer diagnosis.

Veracyte, Inc. (NASDAQ:VCYT) Shares Acquired by Perkins Capital Management Inc.

Wall Street Analysts Forecast Growth

Veracyte Price Performance

Veracyte Profile

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