Veracyte, Inc. (NASDAQ:VCYT) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP increased its stake in Veracyte, Inc. (NASDAQ:VCYT) by 0.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,068,435 shares of the biotechnology company’s stock after acquiring an additional 571 shares during the period. Wellington Management Group LLP owned approximately 9.42% of Veracyte worth $194,453,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. OLD National Bancorp IN acquired a new stake in Veracyte in the fourth quarter valued at $205,000. Aigen Investment Management LP acquired a new stake in Veracyte in the fourth quarter valued at $220,000. China Universal Asset Management Co. Ltd. raised its stake in Veracyte by 353.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,448 shares of the biotechnology company’s stock valued at $232,000 after buying an additional 6,586 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Veracyte in the fourth quarter valued at $264,000. Finally, Wrapmanager Inc. raised its stake in Veracyte by 28.7% in the fourth quarter. Wrapmanager Inc. now owns 11,726 shares of the biotechnology company’s stock valued at $323,000 after buying an additional 2,617 shares in the last quarter.

Insider Buying and Selling

In related news, Director Muna Bhanji sold 3,870 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $20.32, for a total transaction of $78,638.40. Following the transaction, the director now owns 23,105 shares of the company’s stock, valued at $469,493.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Veracyte news, Director Karin Eastham sold 2,500 shares of Veracyte stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $20.97, for a total value of $52,425.00. Following the sale, the director now owns 33,125 shares of the company’s stock, valued at approximately $694,631.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Muna Bhanji sold 3,870 shares of Veracyte stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $20.32, for a total value of $78,638.40. Following the completion of the sale, the director now directly owns 23,105 shares in the company, valued at approximately $469,493.60. The disclosure for this sale can be found here. Insiders have sold a total of 17,909 shares of company stock valued at $379,882 over the last quarter. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

VCYT has been the topic of a number of analyst reports. The Goldman Sachs Group cut their price target on Veracyte from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. Needham & Company LLC dropped their price objective on Veracyte from $33.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. William Blair reaffirmed an “outperform” rating on shares of Veracyte in a report on Friday, February 23rd. Finally, Morgan Stanley dropped their price objective on Veracyte from $22.00 to $21.00 and set an “underweight” rating on the stock in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Veracyte has an average rating of “Moderate Buy” and an average target price of $27.50.

Veracyte Stock Up 0.1 %

NASDAQ VCYT opened at $21.41 on Wednesday. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $30.52. The business’s 50-day moving average price is $20.88 and its 200 day moving average price is $23.40. The firm has a market cap of $1.64 billion, a P/E ratio of -22.78 and a beta of 1.70.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.17. Veracyte had a negative return on equity of 1.42% and a negative net margin of 18.16%. The firm had revenue of $96.84 million for the quarter, compared to analyst estimates of $93.35 million. During the same quarter last year, the company posted ($0.11) earnings per share. The business’s revenue was up 17.5% on a year-over-year basis. As a group, analysts anticipate that Veracyte, Inc. will post -0.05 earnings per share for the current year.

Veracyte Company Profile

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.