Fox Run Management L.L.C. Invests $989,000 in Veracyte, Inc. $VCYT

Fox Run Management L.L.C. acquired a new stake in shares of Veracyte, Inc. (NASDAQ:VCYT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 36,596 shares of the biotechnology company’s stock, valued at approximately $989,000.

A number of other hedge funds also recently bought and sold shares of VCYT. Bank of New York Mellon Corp lifted its stake in shares of Veracyte by 2.0% in the 1st quarter. Bank of New York Mellon Corp now owns 248,224 shares of the biotechnology company’s stock valued at $7,360,000 after acquiring an additional 4,772 shares during the last quarter. Principal Financial Group Inc. grew its position in Veracyte by 9.5% during the 1st quarter. Principal Financial Group Inc. now owns 35,663 shares of the biotechnology company’s stock worth $1,057,000 after acquiring an additional 3,103 shares during the last quarter. AlphaQuest LLC increased its stake in Veracyte by 1,279.9% in the 2nd quarter. AlphaQuest LLC now owns 8,031 shares of the biotechnology company’s stock worth $217,000 after purchasing an additional 7,449 shares during the period. Strs Ohio bought a new stake in Veracyte in the first quarter valued at approximately $848,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Veracyte by 73.0% during the first quarter. Victory Capital Management Inc. now owns 97,786 shares of the biotechnology company’s stock valued at $2,899,000 after purchasing an additional 41,248 shares during the period.

Insider Buying and Selling at Veracyte

In related news, Director Karin Eastham sold 9,674 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $40.02, for a total value of $387,153.48. Following the completion of the transaction, the director directly owned 13,554 shares in the company, valued at $542,431.08. This trade represents a 41.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rebecca Chambers sold 7,000 shares of Veracyte stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $41.00, for a total transaction of $287,000.00. Following the transaction, the chief financial officer directly owned 126,158 shares of the company’s stock, valued at approximately $5,172,478. This trade represents a 5.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 84,635 shares of company stock valued at $3,490,004. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Canaccord Genuity Group lifted their target price on shares of Veracyte from $40.00 to $43.00 and gave the stock a “hold” rating in a research note on Wednesday. Morgan Stanley set a $28.00 price objective on shares of Veracyte and gave the company an “underweight” rating in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Veracyte from a “buy” rating to a “strong-buy” rating in a report on Saturday. Needham & Company LLC boosted their price target on Veracyte from $41.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Weiss Ratings raised Veracyte from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Veracyte presently has an average rating of “Moderate Buy” and an average price target of $42.78.

Veracyte Price Performance

Shares of NASDAQ VCYT opened at $41.70 on Friday. Veracyte, Inc. has a 1 year low of $22.61 and a 1 year high of $47.32. The stock has a market capitalization of $3.28 billion, a P/E ratio of 126.37 and a beta of 2.16. The company’s 50-day moving average is $34.59 and its 200 day moving average is $30.09.

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

Veracyte 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.