I would normally wait for a Weekend Update to introduce a new genomics stock but this new pick, Veracyte (VCYT), generated a system Buy Signal on Tuesday and that in connection with the fact some genomics stocks (including VCYT) are running, I wanted to get this out now.
Veracyte is a genomic diagnostics company with something very few other genomic companies been able to acquire: Medicare approval for one of its products, the "Envisia Genomic Classifier."
"The Envisia Genomic Classifier is the first commercially available genomic test to improve the diagnosis of idiopathic pulmonary fibrosis (IPF). The test harnesses the power of RNA sequencing and machine learning to improve physicians’ ability to differentiate IPF from other interstitial lung diseases (ILD) without the need for invasive, risky and costly surgery."
"Over 100,000 people in
This pick is an exemplary example of confirmatory analysis at its best: A compelling fundamental development in conjunction with highly reliable price pattern. The stock is up 300% in the past 12 months, and up 80% so far in 2019. Is that price appreciation too far too fast? Of course it is....that's why we like it.