Veracyte Stock Fair Value Calculation – Envestnet Asset Management Increases Stake in Veracyte,
May 18, 2023
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Veracyte ($NASDAQ:VCYT), Inc. is a molecular diagnostics company focused on transforming the diagnosis of cancer and other diseases. Its mission is to deliver personalized and actionable answers that enable healthcare providers to make more informed decisions. Its products are designed to provide molecular information that can be used to help diagnose and treat disease and guide treatment decisions. Envestnet Asset Management Inc. recently announced its intention to increase its ownership in Veracyte, Inc. This decision reflects Envestnet’s confidence in the company’s technology and commitment to the advancement of personalized medicine. Through this increased stake, Envestnet will have the opportunity to benefit from Veracyte’s continued growth and success.
This increased involvement from Envestnet will enable Veracyte to take advantage of their expertise, resources, and networks to further strengthen the company’s position in the market. Veracyte recently completed a series of successful clinical trials, further cementing their commitment to providing personalized and actionable answers that can help clinicians make more informed decisions for their patients. With the continued support of investors like Envestnet Asset Management Inc., the company can continue to make strides in advancing personalized medicine and transforming the diagnosis of cancer and other diseases.
Stock Price
On Wednesday, shares of Veracyte, Inc. (VERACYTE) saw a notable increase in trading volume after Envestnet Asset Management Inc. increased their stake in the company. VERACYTE stock opened at $24.7 and closed at $25.1, up by 2.0% from last closing price of 24.6. This surge in the share price indicates that traders were likely encouraged by Envestnet’s decision to increase their stake in Veracyte. The exact amount of the stake increase has yet to be disclosed, but the action by Envestnet has definitely drawn attention to the company and its stock. 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 |
| 311.18 | -30.19 | -9.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Veracyte. More…
| Operations | Investing | Financing |
| 14.23 | -2.85 | 3.19 |
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 |
| 1.16k | 75.86 | 14.94 |
Key Ratios Snapshot
Some of the financial key ratios for Veracyte are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 36.6% | – | -9.6% |
| FCF Margin | ROE | ROA |
| 2.3% | -1.7% | -1.6% |
Analysis – Veracyte Stock Fair Value Calculation
At GoodWhale, we have conducted an in-depth analysis of VERACYTE’s financials. Our proprietary Valuation Line has calculated the intrinsic value of a VERACYTE share to be around $53.4. This means that the current market price of $25.1, is undervalued by 53.0%. Veracyte“>More…
Peers
The company’s competitors include Exact Sciences Corp, Invitae Corp, and NanoString Technologies Inc.
– Exact Sciences Corp ($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
Veracyte, Inc. is a molecular diagnostics company focused on developing and commercializing non-invasive molecular tests that help guide diagnosis and treatment decisions for patients with challenging clinical problems. Analysts have noted recent increase in shareholder interest in the company as Envestnet Asset Management Inc. recently increased its holdings in Veracyte shares. The company employs advanced genomic technology to develop its diagnostic tests, which enables it to detect the presence of disease more accurately and earlier than current methods. With its precision diagnostics, Veracyte is positioned to capitalize on the increasing demand for personalized medicine and to drive growth in the diagnostics market.
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