State of New Jersey Pension Fund Divests 16971 Shares of Veracyte,
January 30, 2023
Trending News ☀️
The Common Pension Fund of the State of New Jersey has recently disposed of 16971 shares of Veracyte ($NASDAQ:VCYT), Inc., a molecular diagnostics company focused on personalized medicine. Its mission is to enable healthcare providers to make more informed decisions about the care of their patients. Veracyte’s technology platform is based on gene expression and genomic sequencing, which enables physicians to make more accurate diagnoses and provide better patient care. Its signature product, the Percepta Bronchial Genomic Classifier, is designed to help diagnose lung cancer in patients with inconclusive diagnoses.
Additionally, Veracyte offers solutions for detecting thyroid cancer, fibroids, neuroendocrine tumors, and other diseases. Despite the volatility of the stock, Veracyte remains committed to its mission of providing personalized care to cancer patients. With its suite of products, Veracyte is well-positioned to capitalize on the growing demand for more precise diagnosis and treatment options. With an increasing focus on personalized medicine and precision diagnostics, Veracyte is well-positioned to benefit from this shift in the industry. Despite the divestment, Veracyte remains steadfast in its commitment to providing innovative solutions that enable healthcare providers to make more informed decisions about their patients’ care.
Price History
Despite the divestment, the media sentiment towards the company has remained mostly positive. On the same day, VERACYTE stock opened at $25.2 and closed at $26.3, a 5.7% rise from its prior closing price of $24.9. The State of New Jersey Pension Fund has sold off its remaining stake in Veracyte, Inc., marking the end of a longer-term investment in the molecular diagnostics company. Despite the divestment, the media sentiment towards VERACYTE remains largely positive, with significant focus on its innovative products and services. On Monday, VERACYTE stock opened at $25.2 and closed at $26.3, a 5.7% increase from its prior closing price of $24.9.
This positive trend is likely due to positive news associated with the company’s products and services, as well as its continued focus on innovation and development. With this in mind, it appears as though investors are optimistic about VERACYTE’s future prospects and are likely to remain bullish on the stock for the foreseeable future. This is evident from the stock’s positive performance on Monday, with a 5.7% increase from its prior closing price of $24.9. It appears as though investors remain confident in VERACYTE’s future prospects, which bodes well for the company’s long-term success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Veracyte. More…
| Total Revenues | Net Income | Net Margin |
| 283.57 | -43.24 | -15.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Veracyte. More…
| Operations | Investing | Financing |
| 6.24 | -2.57 | 3.57 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Veracyte. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.13k | 77.78 | 14.83 |
Key Ratios Snapshot
Some of the financial key ratios for Veracyte are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 34.6% | – | -16.5% |
| FCF Margin | ROE | ROA |
| -0.5% | -2.8% | -2.6% |
VI Analysis
VERACYTE is a company whose fundamentals reflect its long term potential. According to the VI Star Chart, the company has an intermediate health score of 4/10, which reflects its cashflows and debt, and suggests that it is likely to sustain operations in times of crisis. VERACYTE is classified as a ‘cheetah’, which means that it has achieved high revenue or earnings growth, but is considered less stable due to lower profitability. Investors interested in such companies must consider their risk tolerance. VERACYTE is strong in assets and growth, but weak in dividend and profitability, so investors should be aware of potential risks associated with investing in such a company. Investors who are willing to take on higher risk may find that VERACYTE has the potential for greater rewards, given its strong fundamentals. It is important that investors research the company and its competitors before investing. They should also be aware of the potential risks of investing in such a company, and make sure that they are comfortable with the level of risk they are taking on. By doing so, investors can maximize their returns while minimizing their risks. More…
VI Peers
The company’s competitors include Exact Sciences Corp, Invitae Corp, and NanoString Technologies Inc.
– Exact Sciences Corp ($NASDAQ:EXAS)
Exact Sciences Corp has a market cap of 7.56B as of 2022. The company’s ROE for the same year is -14.13%.
Exact Sciences Corp is a biotechnology company that focuses on the development of cancer detection tests. The company’s flagship product is Cologuard, a stool-based DNA test that can detect the presence of colorectal cancer.
– Invitae Corp ($NYSE:NVTA)
Invitae Corp is a biotechnology company that uses genetic information to help healthcare providers diagnose, treat and prevent disease. The company has a market cap of 689.82M as of 2022 and a Return on Equity of -120.15%.
– NanoString Technologies Inc ($NASDAQ:NSTG)
NanoString Technologies Inc is a molecular diagnostics company that develops and sells proprietary technologies and instruments for digital molecular profiling. The company has a market capitalization of 313.93 million as of 2022 and a return on equity of -87.4%. NanoString’s technology is based on a unique digital detection platform that can measure the expression of hundreds of genes simultaneously with high accuracy and precision. The company’s products are used in a variety of applications, including gene expression profiling, copy number variation analysis, single-nucleotide polymorphism genotyping, and mRNA quantification. NanoString’s products are sold to a diverse customer base, including academic research institutions, government laboratories, pharmaceutical and biotechnology companies, and diagnostic laboratories.
Summary
Investing in Veracyte, Inc. (VER) stock has been a profitable venture for many investors. Recently, the State of New Jersey Pension Fund divested 16971 shares of Veracyte, Inc., but the stock price moved up the same day. Media sentiment surrounding the company has been mostly positive, which suggests that there are more investors who are confident in the stock. With its strong financial performance, excellent track record of delivering products and services, and a favorable outlook, VER is a good choice for investors looking to diversify their portfolios.
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