Deutsche Bank AG Buys New Shares in Veracyte, Inc. $VCYT

Deutsche Bank AG bought a new position in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 100,684 shares of the biotechnology company's stock, valued at approximately $5,913,000. Deutsche Bank AG owned approximately 0.13% of Veracyte at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Veracyte during the 4th quarter worth about $58,158,000. First Trust Advisors LP boosted its holdings in Veracyte by 64.9% in the first quarter. First Trust Advisors LP now owns 2,117,046 shares of the biotechnology company's stock valued at $68,190,000 after purchasing an additional 833,543 shares in the last quarter. Squarepoint Ops LLC increased its stake in Veracyte by 770.6% in the second quarter. Squarepoint Ops LLC now owns 897,387 shares of the biotechnology company's stock valued at $24,256,000 after purchasing an additional 794,307 shares during the last quarter. Soleus Capital Management L.P. acquired a new stake in Veracyte during the second quarter worth approximately $19,338,000. Finally, Iron Triangle Partners LP raised its holdings in Veracyte by 102.1% during the fourth quarter. Iron Triangle Partners LP now owns 980,391 shares of the biotechnology company's stock worth $41,274,000 after purchasing an additional 495,391 shares in the last quarter.

Insider Transactions at Veracyte

In related news, CFO Rebecca Chambers sold 3,561 shares of the business's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $49.73, for a total value of $177,088.53. Following the transaction, the chief financial officer owned 173,280 shares in the company, valued at approximately $8,617,214.40. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Annie Mcguire sold 3,176 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $49.76, for a total transaction of $158,037.76. Following the transaction, the executive vice president owned 137,240 shares in the company, valued at $6,829,062.40. This trade represents a 2.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 162,492 shares of company stock worth $8,151,197 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on VCYT shares. Piper Sandler cut their target price on Veracyte from $66.00 to $54.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 4th. Stephens dropped their price target on Veracyte from $68.00 to $55.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 4th. UBS Group lifted their price target on Veracyte from $48.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Guggenheim boosted their price objective on Veracyte from $45.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Finally, Morgan Stanley decreased their price objective on Veracyte from $47.00 to $44.00 and set an "underweight" rating for the company in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Veracyte has a consensus rating of "Moderate Buy" and a consensus target price of $54.33.

Veracyte Trading Down 2.0%

Shares of VCYT stock opened at $41.47 on Tuesday. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 29.41 and a beta of 1.95. The firm has a 50-day moving average price of $52.57 and a 200 day moving average price of $42.67. Veracyte, Inc. has a twelve month low of $28.25 and a twelve month high of $60.91.

Veracyte (NASDAQ:VCYT - Get Free Report) last released its earnings results on Thursday, July 30th. The biotechnology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. Veracyte had a return on equity of 9.26% and a net margin of 20.37%.The firm had revenue of $150.32 million during the quarter, compared to analyst estimates of $144.59 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The business's quarterly revenue was up 15.5% compared to the same quarter last year. As a group, research analysts predict that Veracyte, Inc. will post 1.32 earnings per share for the current year.

Veracyte Company Profile

Veracyte, Inc is a genomic diagnostics company focused on improving diagnostic accuracy and patient care through advanced molecular testing. Founded in 2008 and headquartered in South San Francisco, California, the company develops and commercializes minimally invasive genomic tests that aid in the diagnosis of thyroid, lung and other diseases. Veracyte's proprietary platform analyzes gene expression patterns in clinical samples to help physicians make more informed treatment decisions, reducing unnecessary surgeries and improving patient outcomes.

The company's flagship product, the Afirma Genomic Sequencing Classifier, is designed to assess thyroid nodules with indeterminate cytology, helping clinicians distinguish benign from suspicious nodules.

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