The New Kevin Kotler’s Broadfin Capital Holding in Veracyte, Inc
Broadfin Capital filed with the SEC SC 13G form for Veracyte, Inc. The form can be accessed here: 000091957416016091. As reported in Kevin Kotler’s Broadfin Capital’s form, the filler as of late owns 5.83% or 1,916,666 shares of the Health Care–company.
Veracyte, Inc stake is a new one for the for the hedge fund and it was filed because of activity on November 2, 2016. We feel this shows Kevin Kotler’s Broadfin Capital’s positive view for the stock. For a hedge fund managing $1.26 billion in assets and having 10+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.
The hedge fund is active investor in the Health Care sector. In the manager’s last 13-F, we saw 12% of Kevin Kotler’s Broadfin Capital’s US equities portfolio is in this sector.
Veracyte, Inc Institutional Sentiment
Latest Security and Exchange filings show 59 investors own Veracyte, Inc. The institutional ownership in Q3 2015 is high, at 55.30% of the outstanding shares. This is decreased by 1589288 the total institutional shares. 15406796 were the shares owned by these institutional investors. In total 10 funds opened new Veracyte, Inc stakes, 22 increased stakes. There were 6 that closed positions and 14 reduced them.
Rtw Investments Llc is an institutional investor bullish on Veracyte, Inc, owning 25000 shares as of Q3 2015 for 0.04% of its portfolio. First Light Asset Management Llc owns 564932 shares or 1.31% of its portfolio. CA Venbio Select Advisor Llc have 0.94% of their stock portfolio for 772297 shares. Further, Consonance Capital Management Lp reported stake worth 0.18% of its US stock portfolio. The CA Longwood Capital Partners Llc owns 905000 shares. Veracyte, Inc is 2.46% of the manager’s US portfolio.
Veracyte, Inc. is a molecular diagnostics company. The Company is engaged in developing and delivering genomic solutions that resolve diagnostic ambiguity and enable physicians to make informed treatment decisions at an early-stage in patient care. The Company targets diseases in which various patients undergo diagnostic procedures that could be avoided with diagnosis from a cytology sample taken preoperatively. It operates in the United States. The Company’s commercial solution, the Afirma Thyroid fine needle aspiration (FNA) Analysis is its offering for thyroid nodule assessment. The solution centers on its Afirma Gene Expression Classifier to resolve indeterminate FNA results, based on cytopathology, so that patients whose nodules are benign can avoid unnecessary diagnostic surgery and undergo routine monitoring instead. The Company’s pulmonology product is designed to identify idiopathic pulmonary fibrosis, among patients presenting with a suspected interstitial lung disease.
SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.
Kevin Kotler’s Broadfin Capital website.
Insitutional Activity: The institutional sentiment increased to 1.41 in Q2 2016. Its up 0.64, from 0.77 in 2016Q1. The ratio increased, as 3 funds sold all Veracyte Inc shares owned while 14 reduced positions. 6 funds bought stakes while 18 increased positions. They now own 15.02 million shares or 1.37% less from 15.23 million shares in 2016Q1.
Renaissance Technologies Llc has invested 0% of its portfolio in Veracyte Inc (NASDAQ:VCYT). Deutsche Comml Bank Ag accumulated 0% or 5,141 shares. Blackrock Inv Mngmt has 47,453 shares for 0% of their US portfolio. State Street last reported 0% of its portfolio in the stock. Blackrock Institutional Tru Na last reported 138,275 shares in the company. Tower Research Cap Limited Liability Com (Trc) owns 372 shares or 0% of their US portfolio. Consonance Capital Management L P reported 165,825 shares or 0.12% of all its holdings. Bnp Paribas Arbitrage, a New York-based fund reported 558 shares. First Light Asset Mgmt Limited Liability Company holds 1.27% or 546,021 shares in its portfolio. Panagora Asset Mngmt has 0% invested in the company for 2,264 shares. Rhumbline Advisers accumulated 0% or 13,003 shares. Spot Trading Ltd Com accumulated 0% or 15,900 shares. Citigroup Incorporated accumulated 0% or 3,000 shares. Moreover, Morgan Stanley has 0% invested in Veracyte Inc (NASDAQ:VCYT) for 6,785 shares. Savings Bank Of America Corp De holds 264 shares or 0% of its portfolio.
Insider Transactions: Since May 31, 2016, the stock had 2 insider buys, and 0 sales for $54,267 net activity. 5,000 Veracyte Inc (NASDAQ:VCYT) shares with value of $27,286 were bought by Anderson Bonnie H.
About 79,073 shares traded hands. Veracyte Inc (NASDAQ:VCYT) has risen 17.02% since April 4, 2016 and is uptrending. It has outperformed by 15.93% the S&P500.
Veracyte, Inc. is a molecular diagnostics company. The company has a market cap of $156.32 million. The Firm is engaged in developing and delivering genomic solutions that resolve diagnostic ambiguity and enable physicians to make informed treatment decisions at an early-stage in patient care. It currently has negative earnings. The Firm targets diseases in which various patients undergo diagnostic procedures that could be avoided with diagnosis from a cytology sample taken preoperatively.
Veracyte Inc (NASDAQ:VCYT) Ratings Coverage
Out of 3 analysts covering Veracyte (NASDAQ:VCYT), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $13 is the highest target while $8 is the lowest. The $11.40 average target is 82.40% above today’s ($6.25) stock price. Veracyte has been the topic of 5 analyst reports since August 14, 2015 according to StockzIntelligence Inc. BTIG Research maintained the shares of VCYT in a report on Friday, August 14 with “Buy” rating. The firm has “Buy” rating by Cantor Fitzgerald given on Friday, December 18. The firm has “Overweight” rating given on Friday, August 14 by Piper Jaffray.
More recent Veracyte Inc (NASDAQ:VCYT) news were published by: Prnewswire.com which released: “Veracyte Announces Proposed Public Offering of Common Stock” on November 01, 2016. Also Prnewswire.com published the news titled: “Veracyte, Inc. Appoints Dr. Neil M. Barth as Chief Medical Officer” on August 17, 2015. Prnewswire.com‘s news article titled: “Veracyte Announces Data from Seven Afirma® Gene Expression Classifier Studies …” with publication date: September 15, 2016 was also an interesting one.
According to Zacks Investment Research, “Veracyte, Inc. is a diagnostics company. It is focused on discovering, developing and commercializing molecular cytology solutions. The Company provides Afirma Thyroid FNA Analysis, which helps physicians in reducing unnecessary diagnostic surgeries for patients with thyroid nodules. Veracyte is also developing Afirma Malignant GEC test. It serves endocrinologists, radiologists, and head and neck specialists. Veracyte, Inc. is headquartered in South San Francisco, California.”
VCYT Company Profile
Veracyte, Inc., incorporated on August 15, 2006, is a molecular diagnostics company. The Firm is engaged in developing and delivering genomic solutions that resolve diagnostic ambiguity and enable physicians to make informed treatment decisions at an early-stage in patient care. The Firm targets diseases in which various patients undergo diagnostic procedures that could be avoided with diagnosis from a cytology sample taken preoperatively. The Company’s activities are based in South San Francisco, California and Austin, Texas, and it operates in the United States.
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