Birchview Capital Lp adds Veracyte Inc (VCYT) to its portfolio

Veracyte Inc (VCYT) : Birchview Capital Lp added new position in Veracyte Inc during the most recent quarter end. The investment management firm now holds 34,567 shares of Veracyte Inc which is valued at $247,845 , the company said in a statement filed on Nov 14, 2016 with the SEC.Veracyte Inc makes up approximately 0.14% of Birchview Capital Lp’s portfolio.

Other Hedge Funds, Including , Spark Investment Management reduced its stake in VCYT by selling 26,100 shares or 44.16% in the most recent quarter. The Hedge Fund company now holds 33,000 shares of VCYT which is valued at $238,590. Veracyte Inc makes up approx 0.02% of Spark Investment Management’s portfolio.Denver Investment Advisors reduced its stake in VCYT by selling 420 shares or 2.85% in the most recent quarter. The Hedge Fund company now holds 14,323 shares of VCYT which is valued at $103,555.Blackrock Fund Advisors boosted its stake in VCYT in the latest quarter, The investment management firm added 22,901 additional shares and now holds a total of 384,644 shares of Veracyte Inc which is valued at $2,500,186.

Veracyte Inc opened for trading at $7.4 and hit $7.88 on the upside on Monday, eventually ending the session at $7.69, with a gain of 3.50% or 0.26 points. The heightened volatility saw the trading volume jump to 1,42,112 shares. Company has a market cap of $215 M.

On the company’s financial health, Veracyte Inc reported $-0.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $-0.21. The company had revenue of $18.60 million for the quarter, compared to analysts expectations of $18.58 million. The company’s revenue was up 50.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.32 EPS.

Many Wall Street Analysts have commented on Veracyte Inc. Leerink Partners Resumed Veracyte Inc on Nov 14, 2016 to “Outperform”, Price Target of the shares are set at $12.

Veracyte Inc. is a molecular diagnostics company. The Company is engaged in the field of molecular cytology providing genomic solutions to resolve diagnostic ambiguity and enable physicians to make treatment decisions at an early stage in patient care. It targets diseases in which a large number of patients undergo invasive diagnostic procedures that could be avoided with a diagnosis from a cytology sample. The Company’s commercial solution the Afirma Thyroid FNA Analysis includes as its centerpiece the Gene Expression Classifier (GEC). The GEC allows physicians reduce the number of surgeries by employing a 142-gene signature to pre-operatively determine whether thyroid nodules previously classified by cytopathology as indeterminate can be reclassified as benign. The offering also includes cytopathology testing and the Afirma Malignancy Classifiers. The Company markets and sells Afrma through a co-promotion agreement with Genzyme Corporation a subsidiary of Sanofi.

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