OxFORD Asset Management LLP Has $699,000 Stake in Veracyte, Inc. (VCYT)
OxFORD Asset Management LLP increased its holdings in shares of Veracyte, Inc. (NASDAQ:VCYT) by 92.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,727 shares of the biotechnology company’s stock after purchasing an additional 38,780 shares during the quarter. OxFORD Asset Management LLP owned approximately 0.24% of Veracyte worth $699,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Veracyte during the second quarter worth approximately $103,000. Nationwide Fund Advisors lifted its stake in Veracyte by 16.8% during the second quarter. Nationwide Fund Advisors now owns 13,235 shares of the biotechnology company’s stock worth $110,000 after purchasing an additional 1,908 shares during the last quarter. State of Wisconsin Investment Board purchased a new stake in Veracyte during the second quarter worth approximately $142,000. JPMorgan Chase & Co. purchased a new stake in Veracyte during the third quarter worth approximately $160,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Veracyte by 52.1% during the second quarter. The Manufacturers Life Insurance Company now owns 22,961 shares of the biotechnology company’s stock worth $191,000 after purchasing an additional 7,867 shares during the last quarter. Hedge funds and other institutional investors own 68.75% of the company’s stock.
In other news, insider Christopher M. Hall sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $9.00, for a total transaction of $180,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bonnie H. Anderson sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $9.09, for a total value of $54,540.00. Following the sale, the chief executive officer now owns 16,000 shares of the company’s stock, valued at approximately $145,440. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,000 shares of company stock valued at $385,100. 13.40% of the stock is owned by company insiders.
Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($0.21) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.21). Veracyte had a negative return on equity of 52.99% and a negative net margin of 38.19%. The company had revenue of $17.50 million during the quarter, compared to analysts’ expectations of $19.54 million. During the same quarter in the previous year, the business earned ($0.20) earnings per share. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. equities research analysts expect that Veracyte, Inc. will post -0.87 EPS for the current year.
Several equities research analysts recently weighed in on VCYT shares. Piper Jaffray Companies restated a “buy” rating on shares of Veracyte in a research note on Tuesday, September 12th. Janney Montgomery Scott cut Veracyte from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 7th. BTIG Research set a $13.00 target price on Veracyte and gave the stock a “buy” rating in a research note on Monday, November 20th. Zacks Investment Research cut Veracyte from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. Finally, ValuEngine cut Veracyte from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $11.85.
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Veracyte, Inc is a genomic diagnostics company. The Company uses genomic technology to resolve diagnostic ambiguity. It targets diseases in which patients undergo invasive diagnostic procedures. Its products combine genomic technology, clinical science and machine learning. The Company commercializes over three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis.
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